HPU's Aloha Tower dorms finished and furnished - Hawaii News Now - KGMB and KHNL

HPU's Aloha Tower dorms finished and furnished

HONOLULU (HawaiiNewsNow) -

Except for some finishing touches, Hawaii Pacific University's second-floor student housing area at Aloha Tower Marketplace is complete.
"We call them lofts, the Waterfront Lofts for our students," said Sam Moku, HPU's vice president of university relations.
Each of the 84 units has a furnished living space, a kitchen with sink, counter and fridge, plus a bathroom and one, two or three bedrooms.
"We're roughly about almost 85 percent full. And we're hoping to fill out come the end of August," Moku said.
Students begin moving in on August 24. Rates for a Fall-Spring-and-Summer package range from about $11,000 to $15,800 per student when utilities are added.
"All of our revenue generated from this property will be used to pay back our debt," Moku said.
A big chunk of revenue will come from leasing the tower's commercial space. Dinner cruise company Star of Honolulu and anchor tenants Gordon Biersch and Hooters remain. The Nashville Waikiki bar is moving in, and HPU's negotiating with Palama Market, Subway, Taco Del Mar and Boston's North End Pizza.
"We want to make sure that we balance our commercial retailers use with our use as a university," Moku said.
On the first floor, HPU built a student and faculty lounge with meeting rooms, and multi-purpose space for classes and public meetings.
"This will be a turning point for the university in increasing its marketability," Moku said.
HPU has a 45-year lease for the property, and 30 years to pay off the general obligation bonds that paid for the $50 million makeover.

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