Frequently Asked Questions FAQs

What are you going to do with it?

Downtown may include a combination of market rate and affordable housing, recreational uses such as a plaza, independent restaurants, and some retail and office space. A hotel is a key component.

We will consider the lessons from prior efforts to develop the property in our update of the plans. For example, we anticipate that it will have less office space than proposed by the prior owner. We do not yet have a definitive plan and look forward to the community’s input to shape the future downtown.

When will we have a new downtown?

Building the downtown will likely occur in phases, starting with housing. We do not have a timeline in place at this time. This project is one of the City’s top priorities.

How is the City paying for this?

Prudent fiscal management has put the City in a position to make this investment in our future. We are using a surplus in the City’s General Fund for this year and cash on hand.

The $12.5 million that the City is paying is considerably less than the $20 million value based on August, 2021 appraisal.

We will explore opportunities for state grants to off-set some of the costs of development. The state is encouraging housing projects near transit.

How did the City come to buy the property?

The prior owner (Laulima Development) contacted us to explore the City’s interest in purchasing the property.

 What are the next steps?

While we start planning for development, we will provide for maintenance and security for the property. We are also posting a Request for Qualifications (RFQ) to hire a consultant to assist with urban design services for the site.