{"id":1004084205,"date":"2013-09-25T21:10:28","date_gmt":"2013-09-26T05:10:28","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=187632"},"modified":"2020-05-11T02:55:19","modified_gmt":"2020-05-11T10:55:19","slug":"robertson-properties-groups-767m-aiea-project-could-break-ground-next-year","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/robertson-properties-groups-767m-aiea-project-could-break-ground-next-year\/","title":{"rendered":"Robertson Properties Group\u2019s $767M Aiea Project Could Break Ground Next Year"},"content":{"rendered":"<p>&nbsp;<\/p>\n<p><!--[if gte mso 9]><xml><br \/>\n<w:WordDocument><br \/>\n<w:View>Normal<\/w:View><br \/>\n<w:Zoom>0<\/w:Zoom><br \/>\n<w:TrackMoves\/><br \/>\n<w:TrackFormatting\/><br \/>\n<w:HyphenationZone>21<\/w:HyphenationZone><br \/>\n<w:PunctuationKerning\/><br \/>\n<w:ValidateAgainstSchemas\/><br \/>\n<w:SaveIfXMLInvalid>false<\/w:SaveIfXMLInvalid><br 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Name=\"Bibliography\"\/><br \/>\n<w:LsdException Locked=\"false\" Priority=\"39\" QFormat=\"true\" Name=\"TOC Heading\"\/><br \/>\n<\/w:LatentStyles><br \/>\n<\/xml><![endif]--><!--[if gte mso 10]><\/p>\n\n\n\n\n<style>\n \/* Style Definitions *\/\n table.MsoNormalTable\n {mso-style-name:\"Table Normal\";\n mso-tstyle-rowband-size:0;\n mso-tstyle-colband-size:0;\n mso-style-noshow:yes;\n mso-style-priority:99;\n mso-style-parent:\"\";\n mso-padding-alt:0cm 5.4pt 0cm 5.4pt;\n mso-para-margin-top:0cm;\n mso-para-margin-right:0cm;\n mso-para-margin-bottom:10.0pt;\n mso-para-margin-left:0cm;\n line-height:115%;\n mso-pagination:widow-orphan;\n font-size:11.0pt;\n font-family:\"Calibri\",\"sans-serif\";\n mso-ascii-font-family:Calibri;\n mso-ascii-theme-font:minor-latin;\n mso-hansi-font-family:Calibri;\n mso-hansi-theme-font:minor-latin;\n mso-fareast-language:EN-US;}\n<\/style>\n\n\n\n\n<p><![endif]--><\/p>\n<p class=\"MsoNormal\"><em style=\"mso-bidi-font-style: normal;\"><span lang=\"EN-US\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/09\/Live-Work-Play-Aiea.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-187644\" title=\"Live-Work-Play-Aiea\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/09\/Live-Work-Play-Aiea.jpg\" alt=\"\" width=\"300\" height=\"198\" \/><\/a><\/span><\/em><em style=\"mso-bidi-font-style: normal;\"><span lang=\"EN-US\">By Adriana Pop, Associate Editor<\/span><\/em><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Robertson Properties Group expects to break ground on its $767 million, 1,500-home mixed-use development in Aiea in 2014, the <em style=\"mso-bidi-font-style: normal;\"><a href=\"https:\/\/www.bizjournals.com\/pacific\/news\/2013\/09\/19\/robertson-properties-expects-767m.html?iana=ind_cre\" rel=\"nofollow\" >Pacific Business News<\/a><\/em> reports. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Known as \u201cLive, Work, Play Aiea,\u201d the project will be developed across from Pearlridge Center, on the site of the former Kamehameha Drive-in property. Plans will also include about 143,000 square feet of retail and restaurant space, 80,000 square feet of office space and possibly a 150-room hotel. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">The Los Angeles-based real estate developer is requesting the rezoning of nearly 14 acres of land from community business district to community business mixed-use district, with a height limit of 350 feet. The area\u2019s current limit is only 60 feet. According to Chris Deuchar, a founding partner and member of Form Partners L.L.C., the firm that manages the project, \u201cLive, Work, Play Aiea\u201d will go before the city\u2019s planning commission in October. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">If approved, the project could have a base economic impact of $2.4 billion. Construction is expected to create approximately 1,000 jobs per year during an estimated build-out period of 13 years. Upon completion, \u201cLive, Work, Play Aiea\u201d will generate about 1,000 permanent jobs. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">In other news, A&amp;B Properties, the real estate subsidiary of Alexander &amp; Baldwin, has acquired the Pearl Highlands Center, a 415,000-square-foot retail center in West Oahu, for $141.5 million. The purchase price includes the assumption of a $59.3 million mortgage note, with the balance to be funded by the future sales of commercial properties from A&amp;B Properties&#8217; Mainland portfolio and Hawaii land parcels. The property is anchored by Sam&#8217;s Club, 24-Hour Fitness, Pier One Imports, Ross Dress for Less and Buffalo Wild Wings.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">&#8220;The Pearl Highlands acquisition significantly advances the strategic migration of our commercial portfolio back to Hawaii,&#8221; said Christopher Benjamin, A&amp;B&#8217;s president &amp; COO, in a news release. &#8220;The addition of Pearl Highlands increases our total Hawaii commercial portfolio square footage by 25 percent, to exceed 2 million square feet, and makes A&amp;B the second-largest owner\/operator of retail properties in the state by gross leasable area.&#8221;<\/span><\/p>\n<p class=\"MsoNormal\"><em style=\"mso-bidi-font-style: normal;\"><span lang=\"EN-US\">Photo credits: www.formpartners.com<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Robertson Properties Group expects to break ground on its $767 million, 1,500-home mixed-use development in Aiea in 2014, the Pacific Business News reports.<\/p>\n","protected":false},"author":1269,"featured_media":1004505778,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1588,21742],"tags":[1815],"class_list":["post-1004084205","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-honolulu","category-latest","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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