Niumalu Marketplace Breaks Ground in Kailua-KonaJune 28, 2018, 10:36 AM HST · Updated June 28, 11:28 AM 0 Comments
A new 180,000 square foot shopping center, broke ground in Kailua-Kona on Hawaiʻi Island.
The Niumalu Marketplace is estimated to be a $95 million investment in West Hawaiʻi.
The literal meaning of Niumalu is the shade of a coconut tree and it is also a traditional name of the beach to the north of Kona’s Huliheʻe Palace.
Developers say the project is more than 10 years in the making and will feature retail stores, restaurants and entertainment in a collection of 14 buildings on 20 acres.
The center will be anchored by a new Safeway store and gas station. Opening is projected for the early part of 2020.
The development team is comprised of Sentinel Real Estate Group and Blue Vista Capital Management who acquired the 20-acre commercial piece in late 2017. Liberty Mutual Insurance, AHL (formerly Architects Hawaiʻi), R.M. Towill, E.M. Rivera & Sons, Unlimited Construction, Griffith Consultants and Jones Lang LaSalle round out the development team.
Sentinel Real Estate Group and Blue Vista Capital Management estimate that project construction will create approximately 300 construction jobs and several hundred more long-term jobs once Niumalu Marketplace is completed. Safeway estimates more than doubling its current workforce from 100 employees to approximately 200 to 250 employees when the new store opens.
Sentinel Real Estate Group and Blue Vista Capital Management have Hawaiʻi ties to various projects on Oahu. This is their first venture into the West Hawaiʻi market.