Kmart plans Kmart Corp. plans to open its largest Hawaii store at the long-vacant Keeaumoku superblock in a deal that will add more than 400 new jobs to the state's struggling economy.
Keeaumoku store
with as many as
500 employees
The chain hopes to begin
construction as early as next March
By Rick Daysog
rdaysog@starbulletin.comThe Troy, Mich.-based retailing giant and its local partner the MacNaughton Group are in the process of acquiring the 10-acre block at Keeaumoku and Makaloa streets, on which they plan to build a 175,000-square-foot superstore.
The property is owned by the Wichman Family Trust, which has attempted to sell or co-develop the vacant property with a number of builders over the past 10 years, including Wal-Mart and Haseko (Hawaii) Inc.
Speaking last night before the Ala Moana-Kakaako Neighborhood Board, consultant Duncan MacNaughton said Kmart hopes to begin construction on the project as early as March and finish by the first quarter of 2003.
MacNaughton declined to disclose the cost of the land deal, which is in escrow.
He said Kmart plans to spend up to $20 million for construction and planning.
MacNaughton said the new store, which will be open 24 hours, will employ 400 to 500 full-time and part-time employees and will include 733 parking stalls.
The project will include additional retail space and will include tenants like Starbucks Coffee and Jamba Juice.
The new store, which will compete with Ala Moana Center and the nearby Daiei supermarket, will be larger than Kmart's Iwilei location but smaller than Wal-Mart's previous plan at the site.
The proposed deal comes as Hawaii's visitor industry has been hard hit by the Sept. 11 terrorist attacks on New York and Washington, D.C.
"In today's world you want a dormant piece of property like this put back in the economy," MacNaughton said.