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FOR IMMEDIATE RELEASE
November 22, 2002

 

CITY BUYS AIEA MILL SITE FROM BANK OF HAWAII

          Mayor Jeremy Harris today announced that the City reached an agreement with Bank of Hawaii to purchase about 300,000 square feet (approximately 6.8 acres) of land on Leeward Oahu, formerly occupied by the Aiea Sugar Mill, for $8.96 million.

          Approximately half the site will be developed as the Aiea Town Center, a community vision project, and the balance of the land set-aside for future elderly housing.  The site will be graded and grassed and used as an interim park until funds are available for the design and construction of the town center.

          “I am pleased that we have reached an agreement that benefits the community, especially the residents of historic Aiea,” the Mayor commented.  “The purchase will allow us to move forward on a number of projects that preserve Aiea’s heritage and are part of its people’s vision for the future.  The Bank of Hawaii has been very cooperative in ensuring that the land is suitable for future use.”

          As part of the agreement, Bank of Hawaii completed remediation of the former industrial site to allow for development of the Aiea Town Center including a child day care facility and community gathering place.  In recognition of the environmental cleanup, the State Department of Health has issued a letter of completion for the site.  Sufficient funds are available to pay for the cost to clear remaining debris, grade the property and to complete irrigation and landscape the site for park use. 

          "The bank of Hawaii is delighted that working with the City, the Aiea Community and the Department of Health, the vision for a Community Center on this historic site will become a reality," said William Nelson, Vice Chairman of Bank of Hawaii.

          The agreement was signed on November 12, and is in the process of closing.

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Friday, November 22, 2002

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