The agreement on a mixed development development of 98 acres proposed in Honolulu which would include a new stadium of 25,000 places is examined by lawyers before a self-imposed deadline on August 15.
The state contract agreement with the Aloha Halawa district, the developer of the new Aloha Stadium and Entertainment District (Nased) project, initially presented a deadline of June 30. But if the authority of Aloha Stadium votes to ratify the contract by mid-August as expected, the demolition of the Aloha stadium aged 50 which has been closed since 2020 could begin by the end of the month.
The state has assigned $ 400 million for the new Aloha stadium which will serve again for the University of Hawaii football team and the Hawaii Bowl, according to Sports Business Journal. The complete stadium project should cost up to $ 650 million, the difference being paid by Nased with income generated by its development of the rest of the 98 acres site.
“We have never been so close to performing a real contract,” said the dean of the engineering school at the University of Hawaii, Brennon Morioka, at SBJ.
The developer’s calendar is to prepare the new stadium for the home opening of the football team in 2028, although SBJ reports that tariff problems are disturbing budget and construction plans. The stadium is also designed to organize additional events such as concerts and football and rugby matches for which the current Aloha stadium has not been built. The current site already houses meetings and markets.
“It’s not just a stadium, so it’s not just an infrastructure project, and it’s not just a development project,” Morioka told SBJ. “It is a combination of the two and the two are very linked together, so we have four or five different agreements which are all combined in the single contract. And when you make a change in an agreement, it has hiking effects in several agreements, so simply by ensuring that consistency is there. That is part of what makes us a little more time.”
– field level media
