A $100 million contract that was to finance the building of a new University of Hawaii at West Oahu campus has formally ended, but UH-West Oahu Chancellor Gene Awakuni says he still expects to break ground on the project in January and have a campus built in 2010.
To read The Honolulu Star-Bulletin article, click here.
EARLIER: Plans to build a permanent campus for the University of Hawaii at West Oahu
took an important step forward this week, but potentially also two steps backward because of the nation's credit crisis. UH-West Oahu and the city have reached a compromise over land for a park-and-ride lot and the location of a transit station. But Hunt Building Corp., the company that promised to buy 298 acres of state land around the campus for $100.1 million, is facing financial problems, raising questions about its ability to complete the purchase here. UH-West Oahu plans to use the $100.1 million from the sale of the land to pay for roads, sewer, water and electrical infrastructure and the construction of the first five buildings of the new campus. To read The Honolulu Star-Bulletin article, click here
. ALSO: Until a few weeks ago, it looked like there was progress in a public-private partnership to build student housing for the University of Hawaii at Hilo
in exchange for rights to develop a hotel and conference center complex on state land. Then the credit crisis hit and Bridgecreek Development International couldn't get a loan to build the student housing. The company now is redesigning the project. Instead of four large multistory dorms, Bridgecreek is looking to build a complex of two-story walk-up garden apartments to house at least 800 students. The redesigned project would cost less and could be built faster. To read The Honolulu Star-Bulletin article, click here