Ka Makana Ali‘i To Begin Construction
DeBartolo Development has announced that preparations for construction of phase one of Ka Makana Ali‘i will start immediately.
This marks the beginning of its 65-year lease for the 67-acre site in Kapolei from the state Department of Hawaii Homelands, where it will build the 1.4 million-square-foot West Oahu mall.
“We have worked closely together with DHHL to ensure this project delivers lasting value to not only the Native Hawaiian community, but also the residents of West Oahu,” stated Edward Kobel, president and chief operating officer of DeBartolo Development. “The long-term lease of the Ka Makana Ali‘i site will create a dependable revenue stream for Native Hawaiian beneficiaries for decades to come.”
The $500 million project is expected to generate more than $200 million in rent revenue, which will, in turn, support the construction of thousands of homes for Hawaiian Homesteaders and programs that will benefit Native Hawaiian interests statewide.
“Reaching this critical milestone is an important step forward,” stated Jobie Masagatani, chairwoman of Hawaiian Homes Commission and director of Department of Hawaiian Home Lands. “The execution of this commercial lease with DeBartolo Development represents more resources to place Native Hawaiians on the land, and to sustain programs that support the success of our beneficiaries.
“In addition to Trust revenue, we look forward to the employment opportunities resulting from the construction and operation of the mall for our neighboring Native Hawaiian homestead residents, and the economic boost that this project will bring to the greater West Oahu community.”
Ka Makana Ali‘i will feature more than 150 shopping, dining and entertainment options, in addition to two hotels and LEED-certified office space. Tenants slated for the mall so far include anchor department store Macy’s, as well as Forever 21, H&M and AT&T.
“The majority of space for the center is in active negotiation, and we look forward to announcing our exciting roster to the community during the next few months,” stated Kobel.
Before a formal construction start date is announced, grading and grubbing is expected to begin this month.
The first phase of the mall is scheduled to open in 2016 and will include more than 750,000 square feet of retail, dining, entertainment and hotel space.