First Round Pacific LLC has proposed a retail development project for the site of the old Hula Hut restaurant.

The new project, known as 280 Beach Walk, will occupy 35,000 square feet of retail space.

Construction is expected to begin this year.

Currently, the site — on the north end of an elongated block bounded by Kalia Road, Kalakaua Avenue, Beach Walk and Saratoga Road — is a largely empty lot with a two-story parking garage.

According to design plans, the two-story complex will feature shops and restaurants fronting Kalakaua Avenue.