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The International Market Place, a Waikiki shopping and dining landmark since 1956, may soon get a major makeover. Its owner, Queen Emma Land Co., and real estate investment trust Taubman Centers recently filed an environmental impact statement in hopes of redeveloping the open-air plaza, a popular spot for visitors looking for Hawaii-themed souvenirs.
Plans for the revitalization of the International Market Place call for an approximately 355,000-square-foot, three-level open-air retail center, which will be designed to incorporate historical, cultural and educational features and opportunities. Construction would start no sooner than 2013.
International Market Place sits on land owned and managed by Queen Emma Land Co., a nonprofit subsidiary of Queen's Health Systems (QHS) that also includes Queen's Medical Center - the state's largest private nonprofit hospital - and Molokai General Hospital. Revenues generated from these properties directly support the QHS commitment to be the leading health-care system in the Pacific.
"Redeveloping the International Market Place will play an important role, not only financially for QHS, but in supporting the legacy of our founders, Queen Emma and King Kamehameha IV," said Queen Emma Land Co. vice president Les Goya.
"Waikiki has a special place in the history and culture of the islands and in the minds and hearts of its residents and visitors from around the world," said Taubman senior vice president of development Stephen Kieras. "We look forward to continuing to work closely with the community on the potential redevelopment of this important centerpiece of Waikiki."