Howard Hughes Corp. Enters Lease to Revitalize Kewalo Basin Harbor
Plans calls for repairs to slips and other components of the harbor in Kakaako that could cost as much as $20 million.
The Hawaii Community Development Association (HCDA) announced today that it has entered into a 35-year lease with a 10-year extension option with Ward Village to revitalize Kewalo Basin on Oahu’s south shore.
The announcement comes two weeks after HCDA deferred聽the聽lease option with Howard Hughes Corp., owners of Ward Village.
The lease is begins in mid-August.
Kewalo Basin Harbor in Kakaako.
Flickr
In 2010 an was drafted to address plans to repair and revitalize the聽small, commercial boat harbor聽that is located downtown adjacent to approximately 60 acres of Howard Hughes Corp.-owned land.
The EIS calls for repairs to slips and other components of the harbor that could cost as聽much as $20 million.
HCDA hopes to not only repair the small, commercial boat harbor but also to revitalize it.
“This lease agreement will allow us to share both the risks and the returns in revitalizing the harbor to serve the community. We will be working together to reconnect Kakaako and all of Honolulu with our waterfront,” Brian Lee, chairperson of the HCDA, said in a press release.
