KO OLINA, HAWAII -- Despite the economic malaise affecting most of the US real estate markets, Oahu's preeminent condo development area has just received a major boost. The State Department of Hawaiian Home Lands announced an agreement to bring Oahu's largest shopping center west of Pearl Ridge. The shopping center will be located between Ewa and Kapolei and will be built in conjunction with Hawaii DeBartolo company.
Formally known as Ka Makana Ali'i, the shopping center will have approximately 1.6 million square feet of commercial space. Additionally, the agreement allows up to 300 hotel rooms and up to 100,000 ft.² of office space.
The exact location of the facility is on the Kapolei Parkway and the planned North-South access road. This will be a straight to the H-1 Freeway-North-South road interchange which is currently planned to open in the year 2010.
The Department of Hawaiian Home Lands Director, Micah Kane, told the Honolulu Advertiser: "It's the final piece of the East Kapolei vision we've been trying to promote." The additional jobs in the area will be a boon to the Island's economy and to Kapolei and Ko Olina. By some estimates, the new center will help bring several thousand jobs to West Oahu.
In addition, several smaller shopping centers are also planned for the area. Particular geographies include the Kapolei Commons in West Kapolei and Laulani Village in Ewa.
The larger area benefited by the new shopping center is home to an extensive array of upscale Oahu condos, many priced upwards of $1 million. Located in proximity is the Ko Olina resort area immediately fronting the ocean and beach lagoons. Resort properties including the Marriott Ihilani and the Marriott Timeshare complex, both of which are beach-front and ocean-front developments.
Also benefiting from the shopping expansion will be the Ko Olina Beach Villas and their 200 beach front and ocean view units. Mitch Makaha, a resident living near the Ko Olina Beach Villas said, "Many of us will be looking forward to shopping at Ka Makana. It will be a great venue for folks living near Ko Olina."
While the list of potential tenants has not yet been released, local residents are hopeful that the new shopping center will include its fair share of fine dining. Makaha noted, "Residents of KoOlina enjoy spending as much time as possible at their beachfront condos and would prefer not to drive all the way to Waikiki. Having additional new restaurant options close to KoOlina will be a nice plus."
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