COURTESY OF KAMEHAMEHA SCHOOLS
A unit of Tokyo-based Kajima Corp. and Phase 3 Properties Inc. of San Diego are in exclusive talks to develop a 400,000-square-foot Kakaako complex for Kamehameha Schools.
Venture to develop Kakaako bio center
Kamehameha Schools selects a partnership of two prominent firms
By Stewart Yerton
MARKING AN incremental step in Kakaako's rebirth as a biomedical district, Kamehameha Schools announced yesterday it has selected a joint venture of two prominent firms to develop a $200 million Life Sciences Research Complex on the ocean side of Ala Moana between Cooke and Coral streets.
KUD International LLC, a Santa Monica, Calif., unit of Tokyo-based Kajima Corp., and Phase 3 Properties Inc. of San Diego are in exclusive talks to develop the 400,000-square-foot complex for Kamehameha Schools, which has been leading a push to transform Kakaako from a neighborhood of car lots and run-down industrial buildings into a revitalized high-tech hub. The project is expected to take 18 to 20 months to complete once construction begins, possibly in late 2006, said Kekoa Paulsen, a Kamehameha Schools spokesman.
"This is a tremendous day for Kamehameha Schools, as this project continues to develop under our concept of understanding and commitment to the community, stewardship of the land and creating an urban village," said Kirk Belsby, Kamehameha Schools' vice president for endowment.
COURTESY OF KAMEHAMEHA SCHOOLS
An architectural model shows the planned Kakaako complex.
THE ANNOUNCEMENT comes as Alexander & Baldwin Inc.
and the state's Hawaii Community Development Authority are gathering public input on a proposal to develop a $650 million, mixed-use community on taxpayer-owned land near Kamehameha Schools' proposed biomedical center. The A&B project would consist of park land, an amphitheater, retail space and 950 residential condominiums on land surrounding the Kewalo Basin boat harbor, stretching from the waterfront toward Ala Moana.
Although some biotechnology boosters have questioned A&B and the state authority for failing to include a bio-medical component in their planned development, Belsby said the projects would complement each other, as well as the University of Hawaii's new John A. Burns School of Medicine building in Kakaako.
"This project is a perfect complement to Hawaii Community Development Authority and the University of Hawaii's vision of a 'live, work, learn and play' community," Belsby said.
Ted Liu, director of the Hawaii Department of Business, Economic Development and Tourism, called Kamehameha Schools' announcement "great news for Hawaii's economy and for the economic diversification that we are seeking."
KAMEHAMEHA SCHOOLS' project harnesses the expertise of two companies with distinct specialties.
Phase 3 Properties specializes in the development, leasing and management of biotech laboratory facilities. Projects include the San Diego Science Center in California, Patriot Science Center in North Carolina and Nexus Canyon Science Park in Seattle.
KUD and its affiliate companies have been involved in a number of world-class developments in Hawaii and elsewhere, including the John A. Burns School of Medicine building, the Hualalai resort on the Big island, Pacific Bell Stadium in San Francisco and Silvertown Quays in London, a major redevelopment project.
"We believe that KUD's tremendous experience in development, construction and financing and the tremendous strength of Phase 3 in marketing and leasing life science facilities and property management creates a world-class team to develop this ambitious project," said Susan Todani, director of Kamehameha Schools' planning and development division.
Daniel Dinell, executive director of the Hawaii Community Development Authority, said Kakaako is gathering the elements it needs to attract top scientists, including spaces for work and research, housing and recreation.
"The way we're going to attract the knowledge workers of today and tomorrow is to have a dynamic community, and that community is going to have a mixture of uses," Dinell said.