{"id":1004092499,"date":"2014-03-10T12:37:03","date_gmt":"2014-03-10T20:37:03","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=245141"},"modified":"2020-04-01T06:59:34","modified_gmt":"2020-04-01T14:59:34","slug":"350m-international-market-place-redevelopment-begins-in-waikiki-castle-cooke-kamehameha-schools-develop-workforce-housing-in-kakaako","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/350m-international-market-place-redevelopment-begins-in-waikiki-castle-cooke-kamehameha-schools-develop-workforce-housing-in-kakaako\/","title":{"rendered":"$350M International Market Place Redevelopment Begins in Waikiki; Castle &amp; Cooke, Kamehameha Schools Develop Workforce Housing in Kakaako"},"content":{"rendered":"<p><!--[if gte mso 9]><xml><br \/>\n<o:OfficeDocumentSettings><br \/>\n<o:RelyOnVML\/><br \/>\n<o:AllowPNG\/><br \/>\n<\/o:OfficeDocumentSettings><br \/>\n<\/xml><![endif]--><\/p>\n<p><!--[if gte mso 9]><xml><br \/>\n<w:WordDocument><br 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5.4pt;\n\tmso-para-margin-top:0cm;\n\tmso-para-margin-right:0cm;\n\tmso-para-margin-bottom:10.0pt;\n\tmso-para-margin-left:0cm;\n\tline-height:115%;\n\tmso-pagination:widow-orphan;\n\tfont-size:11.0pt;\n\tfont-family:\"Calibri\",\"sans-serif\";\n\tmso-ascii-font-family:Calibri;\n\tmso-ascii-theme-font:minor-latin;\n\tmso-hansi-font-family:Calibri;\n\tmso-hansi-theme-font:minor-latin;\n\tmso-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\/2014\/03\/International-Market-Place-Groundbreaking.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-245147\" title=\"International Market Place Groundbreaking\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/03\/International-Market-Place-Groundbreaking.jpg\" alt=\"\" width=\"300\" height=\"201\" \/><\/a>By Adriana Pop, Associate Editor <\/span><\/em><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Michigan-based developer Taubman Centers Inc. and its partners CoastWood Capital Group LLC of San Francisco and landowner Queen Emma Land Co. of Honolulu celebrated the groundbreaking of the new International Market Place in Waikiki. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Upon completion in the spring of 2016, the 360,000-square-foot shopping center will feature approximately 75 retailers, seven restaurants and the island&#8217;s first full-line Saks Fifth Avenue. According to the <a href=\"https:\/\/www.bizjournals.com\/pacific\/news\/2014\/03\/03\/taubman-queen-emma-break-ground-on.html\" target=\"_blank\" rel=\"nofollow\"><em style=\"mso-bidi-font-style: normal;\">Pacific Business News<\/em><\/a>, the redevelopment entails an investment of $350 million.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">In addition to creating an estimated 1,000 construction jobs and about 2,500 permanent jobs, the project will bring revenues to support The Queen&#8217;s Medical Center, the state&#8217;s largest private, nonprofit hospital. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">&#8220;The new International Market Place will become a new and sustainable income source for The Queen&#8217;s Medical Center, helping us provide much-needed quality healthcare and access to specialized medical services,&#8221; Eric Martinson, president of Queen Emma Land Co., said in a news release. &#8220;The groundbreaking ceremony marks a milestone for us as we continue to honor the legacy of Queen Emma.&#8221;<span style=\"mso-spacerun: yes;\">\u00a0 <\/span><\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">In other news, Castle &amp; Cooke Homes Hawaii and Kamehameha Schools officially announced their plan to develop a 183-unit mixed-use\u00a0workforce housing project in Kakaako. <span style=\"mso-spacerun: yes;\">\u00a0<\/span><\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">The new development is slated to rise in an area known as the \u201cThird City,\u201d on a block bounded by Auahi, Keawe and Pohukaina streets.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">The Castle &amp; Cooke component of the project will be located on the makai end of the block and will include a 65-foot, six-story mixed-use building with 75 market-priced and 20 workforce condominiums, and 10,000 square feet of commercial space. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">On the remainder of the land, Kamehameha Schools will be developing a 65-foot building, with 88 rentals reserved for middle-income workers and their families. <span style=\"mso-spacerun: yes;\">\u00a0<\/span>Plans call for four floors of residential units and three levels of parking.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">The entire project, which will be part of Kamehameha Schools\u2019 \u201cOur Kakaako\u201d master plan, will cost $60 million to develop, the <a href=\"https:\/\/www.bizjournals.com\/pacific\/news\/2014\/02\/26\/castle-cooke-kamehameha-schools-to.html\" target=\"_blank\" rel=\"nofollow\"><em style=\"mso-bidi-font-style: normal;\">Pacific Business News<\/em><\/a> reports.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">\u201cCastle &amp; Cooke understands and shares our vision for Our Kakaako and has a deep respect for Hawaii\u2019s culture and lands. We are extremely pleased to be collaborating with them,\u201d said Elizabeth Hokada, vice president for endowment for Kamehameha Schools.<\/span><\/p>\n<p class=\"MsoNormal\"><em style=\"mso-bidi-font-style: normal;\"><span lang=\"EN-US\">Photo credit: Taubman Centers<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Michigan-based developer Taubman Centers, Inc. and its partners, CoastWood Capital Group, LLC of San Francisco and landowner Queen Emma Land Company of Honolulu, have celebrated the groundbreaking of the new International Market Place in Waikiki.<\/p>\n","protected":false},"author":260,"featured_media":1004506192,"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-1004092499","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) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>$350M International Market Place Redevelopment Begins in Waikiki; 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