Goodbye to Waikiki's International Market Place. Hello, upscale mall.by: John Heckathorn
posted: Fri May 28, 2010 at 10:42 AM
We continue to get inquiries about the fate of Waikiki’s International Market Place. For instance, reader Bob Brethour wrote:
The last I heard the International Market Place was going to disappear, and then there was some doubt. Could you please provide an update?
From Pat Pattison in Australia, we got a somewhat plaintive email:
My friend who lives in Portland told me that the International Market Place has closed down. Is this true???
The Market Place still stands. But its days are numbered.
Last year, we reported that the landowner—Queen Emma Land Co.—was taking proposals for developing the Market Place’s 6.48 acres in the heart of Waikiki. They expected to be done in several months.
It took longer, but last week Queen Emma Land signed an agreement with Taubman Centers. Taubman is a Bloomfield Hills, Mich., company that develops, owns and operates high-end malls across the country. For instance, they own Beverly Center in Los Angeles, the Short Hills Mall in New Jersey and Fair Oaks Mall in Virginia.
Taubman is not saying much about the agreement except it “will evaluate the market feasibility of developing the current International Market Place, as well as conduct more in-depth due diligence into physical and regulatory requirements as next steps before moving forward.”
OK. What does that mean? More on the next page.
Check out these related HawaiiMagazine.com posts:
Will Waikiki's International Market Place be razed, renovated or left as is?
Say goodbye to Waikiki's International Market Place? An update.
Waikiki's iconic International Market Place to close forever Dec. 31