The below article is by Duane Shimogawa for Pacific Business News, published on May 5, 2016:
The Howard Hughes Corp. presented plans to state regulators in Hawaii this week regarding its $20 million upgrade of Kewalo Basin Harbor, the aging small boat harbor directly across the street from the developer's 60-acre Ward Village master-planned community in Honolulu.
The two-phase renovation of the aging Kakaako small boat harbor includes water, fire and electrical upgrades, adding security cameras and Wi-Fi. The improvements also include repairing the concrete and epoxy coat, as well as adding security gates. The pile caps will be demolished and replaced with new docks, and a marine fueling facility will be installed.
The Howard Hughes Corp. presented plans to state regulators in Hawaii this week regarding its $20 million upgrade of Kewalo Basin Harbor, seen here, the aging small boat harbor directly across the street from the developer's 60-acre Ward Village master-planned community in Honolulu
Honolulu-based Sea Engineering Inc., along with other consultants, including Coffman Engineers Inc., are doing the work on the long-overdue project.
Last year, the Texas-based developer took over management duties of the harbor under a lease with the Hawaii Community Development Authority.
Todd Apo, vice president of community development for The Howard Hughes Corp. (NYSE: HHC), told PBN Thursday that the developer was required to do the improvements under its lease.
“The lease was set up that we were able to recover the development costs from the revenue from the harbor,” he said, noting that it comes out to a 16 to 18 year recovery of those costs. “Under the lease, right now, we are at base rent and then it goes up to percentage rent.”
Howard Hughes’ Kewalo Harbor Development Co. LLC is requesting a development permit from the HCDA, the state agency regulating development in the Honolulu neighborhood, to do the upgrades.
A decision-making hearing is scheduled for June 1 at 1 p.m. at the at the HCDA’s office on Queen Street in Honolulu.