The regional mall Ka Makana Ali’i that has plans to be developed in East Kapolei on Department of Hawaiian Home Lands property received approval yesterday from the Hawaiian Homes Commission to build a small phase initially and defer paying rent on most of the land for up to six years.Florida-based DeBartolo Development LLC announced they had finally received approval from the commission to lease the 67 acres needed fro construction of the much-anticipated property. The $400 million project has now moved a step closer to breaking ground.Ka Makana Ali’i was first announced back in 2006. The project plan features 1.1 million square feet of retail space integrated with around 200,000 square feet each of hotel buildings and office buildings. These numbers equal the size of Hawaii’s second-largest mall, Pearlridge Center, and that is for retail space alone.Initial construction of Ka Makana Ali’i could begin as early as next year if an environmental assessment and state Land Use Commission approval are completed without any unforeseen delays. The terms of this initial agreement are built around the fact that the state is allowing this mall to go up on Hawaiian Homes Land. Under terms of the 65-year lease, DHHL stands to receive more than $140 million over the first 25 years from DeBartolo, providing a big boost to the agency’s financial ability to develop homes for native Hawaiians. What this means is that initially the state will have to give up the land for Ka Makana Ali’I, but will be able to use the millions in return to provide new homes for Native Hawaiians.Ka Makana Ali’i will provide West Oahu with yet another amazing shopping and entertainment venue, along with providing hotel and office space. This leaves residents with more options when it comes to shopping and other amenities. This will also allow Leeward and West Oahu residents the luxury of not having to drive into Pearl City or Honolulu, as the finished retail space will be just as big.More updates and schedules on Ka Makana Ali’i to come so stay tuned.
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