[ OUR OPINION ]
THE sale of the Ward shopping complex to the owner of Ala Moana Center consolidates a core retail district in Honolulu and is sure to have significant influences on the retail scene and development of Kakaako. As with any situation in which one business entity holds sway over a large segment of economic interests, there are several concerns. Ward sale shifts
Honolulu’s retail scene
THE ISSUE The owner of Ala Moana Center extends its market presence with the purchase of the shopping district in Kakaako.
Among them are those of the smaller businesses operating from Victoria Ward Ltd.'s 65 acres of commercial property that includes Ward Centre, Ward Warehouse, the Farmer's Market, Ward Village and the new entertainment center. With its ownership of the nearby Ala Moana Center, General Growth Properties Inc. will control a large chunk of lease rents in a lucrative retail area in the city.
Shop owners understandably are worried about the Chicago-based behemoth's increased leverage or that it will recast the Ward district in the image of Ala Moana Center. However, they should note that General Growth recognizes the strength of the retail formula Victoria Ward has established and that it would be imprudent for the new owners to mess with the success of the popular complex.
General Growth will continue to pursue mainland retailers for the Ward area, which already boasts Pier 1 Imports, Borders bookstore, Dave & Buster's and Ross. Stores like Nordstrom, which had previously signed on with Victoria Ward, certainly deliver more options for Honolulu shoppers. General Growth also would do well to seek out local businesses to round out its offerings beyond the more pricey outlets geared toward tourists at Ala Moana.
Victoria Ward's redevelopment has been mindful of the nearby shoreline and parks along its property. General Growth hasn't yet said whether it will adopt the same approach, but the company presumably is aware of the advantages the ambient greenery and scenery provide. It's too soon to gauge how the new owner will fold its plans into other projects planned for Kakaako, such as Kamehameha Schools' office complex and the state's biomedical facility.
At one time, Victoria Robinson Ward, a descendant of alii and a lifelong friend of Queen Lili'uokalani, and her husband, Curtis P. Ward, held more than 100 acres from Thomas Square to the shore, dwelling in the "Old Plantation" house where Blaisdell Center now sits. The sale will end the kamaaina family's lengthy ties with the land and for the Ward descendants, the slipping of history must be bittersweet.
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