Ala Moana Center’s $573M redevelopment

Ala Moana Center, Hawaii's largest shopping mall, is undergoing one of its biggest transformations in its more than 50-year history, which includes adding about 340,000 square feet of new retail space in the former Sears space. The new Ewa wing will include between 65 and 75 new stores, including Hawaii's first Bloomingdale's department store and Nordstrom, which is being relocated from the other end of the mall. A senior director of development for Chicago-based General Growth Properties Inc. (NYSE: GGP), the owner of Ala Moana Center, recently said at an industry event in Honolulu that the completion of the $573.2 million redevelopment is anticipated for November 2015. The Ewa wing also will include a $1 billion luxury residential development called Park Lane Ala Moana, which is being developed by Honolulu's The MacNaughtonn Group and Kobayashi Group, as well as local investment firm BlackSand Capital and GGP. The seven eight-story buildings, which will include 215 total units, are expected to be done by 2016. Courtesy of Pacific Business News
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