International Market Place Will be horribly razed - General Tiki

C christiki295 Member LA-2547 mls east Hawaii &5500 Easter Is Joined: Apr 09, 2003 Posts: 3837	C christiki295 Posted posted on Sun, Apr 5, 2009 11:22 AM Tuesday, September 23, 2008 \| Modified: Wednesday, September 24, 2008 New plan for International Market Place announced Pacific Business News (Honolulu) - by Janis L. Magin For the second time in five years, the Queen Emma Land Co. on Tuesday unveiled plans to redevelop the 50-year-old International Market Place in the center of Waikiki. The nonprofit landowner, which was created to provide funding for The Queen’s Medical Center, is seeking a master developer to redevelop 6.48 acres along Kalakaua and Kuhio avenues into a “contemporary mixed-use resort destination that includes shopping, dining and entertainment.” The organization hopes to generate funds to continue and expand operations at The Queen’s Medical Center, the largest private hospital in the state. The company is the real estate arm of The Queen's Health Systems, which owns some 12,000 acres statewide, including 18 acres beneath hotels and the International Market Place in Waikiki. In September 2003, Queen Emma announced plans for a $100 million renovation of the International Market Place with construction to begin in 2005. But there were internal disagreements over the scope of the plans and their cost, as well as changes in management of the then-Queen Emma Foundation. The latest plans call for the redevelopment of the 2.9-acre International Market Place, the 75,000-square-foot Waikiki Town Center retail building on Kuhio Avenue, as well as the Perry’s Smorgy Restaurant and Food Pantry on the mauka side of Kuhio. The plans may also include the Miramar Hotel property on Kuhio Avenue. Retail ground leases at the properties expire in 2010 “You want to create a thriving center where future generations will be able to enjoy the rich heritage of these properties while maintaining a Hawaiian sense of place,” said Mark Yamakawa, president of Queen Emma Land Co., in a statement. “We recognize that we have a responsibility to do our part to help enhance Waikiki for both locals and visitors, not only for the obvious benefits to the community, but also to enhance Waikiki as a destination and strengthen Hawaii’s economy.” The Queen Emma properties are next door to Kyo-ya Ltd.’s Sheraton Princess Kaiulani Hotel, which is slated for redevelopment in the next several years.

Tuesday, September 23, 2008 | Modified: Wednesday, September 24, 2008
New plan for International Market Place announced
Pacific Business News (Honolulu) - by Janis L. Magin

For the second time in five years, the Queen Emma Land Co. on Tuesday unveiled plans to redevelop the 50-year-old International Market Place in the center of Waikiki.

The nonprofit landowner, which was created to provide funding for The Queen’s Medical Center, is seeking a master developer to redevelop 6.48 acres along Kalakaua and Kuhio avenues into a “contemporary mixed-use resort destination that includes shopping, dining and entertainment.”

The organization hopes to generate funds to continue and expand operations at The Queen’s Medical Center, the largest private hospital in the state. The company is the real estate arm of The Queen's Health Systems, which owns some 12,000 acres statewide, including 18 acres beneath hotels and the International Market Place in Waikiki.

In September 2003, Queen Emma announced plans for a $100 million renovation of the International Market Place with construction to begin in 2005.

But there were internal disagreements over the scope of the plans and their cost, as well as changes in management of the then-Queen Emma Foundation.

The latest plans call for the redevelopment of the 2.9-acre International Market Place, the 75,000-square-foot Waikiki Town Center retail building on Kuhio Avenue, as well as the Perry’s Smorgy Restaurant and Food Pantry on the mauka side of Kuhio.

The plans may also include the Miramar Hotel property on Kuhio Avenue.
Retail ground leases at the properties expire in 2010

“You want to create a thriving center where future generations will be able to enjoy the rich heritage of these properties while maintaining a Hawaiian sense of place,” said Mark Yamakawa, president of Queen Emma Land Co., in a statement. “We recognize that we have a responsibility to do our part to help enhance Waikiki for both locals and visitors, not only for the obvious benefits to the community, but also to enhance Waikiki as a destination and strengthen Hawaii’s economy.”

The Queen Emma properties are next door to Kyo-ya Ltd.’s Sheraton Princess Kaiulani Hotel, which is slated for redevelopment in the next several years.

Post #444987 by christiki295 on Sun, Apr 5, 2009 11:22 AM