Ward plan revives push to transform properties
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Nordstrom to anchor new Ward shopping complex
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Map: Ward Warehouse redevelopment
By Andrew Gomes
Advertiser Staff Writer
For Victoria Ward Ltd., the project announced yesterday is something of a continuation of a previous attempt to redevelop Ward Warehouse.
In 1997, Victoria Ward announced plans to build 800,000 square feet of retail space to replace the aging property, and using part of Auahi Street and neighboring property.
Saks Fifth Avenue and FAO Schwarz signed on as anchor tenants for the $270 million project, and pre-eminent mall developer Simon DeBartolo Group signed on as development partner. But a pullout by Saks killed the project.
A financing hitch, specifically a failed proposal to use a $55 million bond issued by the state to finance a 4,500-stall parking garage, also had troubled the project, as did intense competitive pressures.
Jostling for some of the same tenants were Ala Moana Center, which planned a 543,000-square-foot retail addition with a movie theater and hotel, and a venture involving Mainland retail developer Forest City Development, which planned a 515,000-square-foot retail center and multiplex on Ke'eau-moku Street.
All three proposed projects stalled.
Last year, Victoria Ward shifted gears and adopted a strategy to complete its vision for the site in phases.
The company placed prospective project tenant Pier 1 Imports at another site, and put a 16-screen Consolidated theater and several big-name restaurants and retailers next door at the recently completed $45 million, 156,000-square-foot Ward Entertainment Center.
