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 the lease option with Howard Hughes Corp., owners of Ward Village.
The lease is begins in mid-August.
Kewalo Basin Harbor in Kakaako.
In 2010 an Environmental Impact Statement (EIS) was drafted to address plans to repair and revitalize the small, commercial boat harbor 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 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.
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