Wailuku to get new
building for start-upsThe work will kick off a public-private
effort to revitalize the town
WAILUKU >> A nonprofit's effort to help revitalize Wailuku is scheduled to begin this summer with construction of a three-story building to help start-up businesses.
Lokahi Pacific has obtained approval from the Maui County Redevelopment Agency to proceed with the partial demolition of the building at 62 Market St., formerly occupied by Traders of the Lost Art.
The facade of the two-story building, constructed in the 1920s, will be retained to preserve the historic character of Market Street. But a new structure, known as the Wailuku Small Business Center, will be built on the 4,571-square-foot parcel.
Maui County, the owner of the site and dilapidated building, has granted Lokahi Pacific a 30-year lease at $1 a year, in return for the group redeveloping the structure.
After the lease ends, the county would assume ownership of the structure.
Lokahi Pacific Executive Director Jo Ann Ridao said construction of the $1.2 million project will take about eight to 10 months.
"This is a real exciting project because it's so different," Ridao said.
Under the plan, the first floor will include space for training facilities, a boutique, an indoor-outdoor bistro cafe and a certified kitchen where qualified businesses may cook food for retail sale.
The second floor will include a training center and start-up businesses, and the third floor is expected to include a rooftop lanai for public events.
Two one-bedroom apartments for low-income tenants are to be built at the rear of the second and third floors.
Ridao said most of the money for the construction is being provided by the U.S. Department of Commerce's Economic Development Administration, the U.S. Department of Housing and Urban Development and the Harry and Jeanette Weinberg Foundation.
The project is a part of the county's effort to revitalize Wailuku town, which serves as the county seat but lost its retail magnetism with the development of shopping centers in Kahului.
The county has been involved in improving the adjacent Iao Theatre and is developing a small park with a community police office.
County officials plan to also develop public parking in the back of the Iao Theatre and the Wailuku Small Business Center.
Lokahi Pacific, a private nonprofit community development organization established in 1971, has been involved in developing low-income housing and manages six low-income projects on Maui.
Ridao said the group also administers a small-business lending program designed to assist low-income residents and has loaned $6.3 million to 110 small businesses.
She said borrowers must be turned down by at least two financial institutions before they qualify as a loan applicant for the program.