WAIPOULI — Changes are in store for Coconut Marketplace — and it’s no secret what type of improvements are needed. From the color choices, to the dilapidated pipe display, to the overall wear and tear — the shopping center is
WAIPOULI — Changes are in store for Coconut Marketplace — and it’s no secret what type of improvements are needed.
From the color choices, to the dilapidated pipe display, to the overall wear and tear — the shopping center is overdue for a face-lift.
“It’s incredibly run-down,” said David Harvey, a senior vice president at M & J Wilkow Ltd., which purchased the property in March.
Harvey, who freely acknowledges the Marketplace’s flaws, said M & J Wilkow plans to pump about $5 million into its new acquisition. The predominantly cosmetic changes call for new paint and a new roof. The entryways facing Kuhio Highway and the hotels are in for some sprucing, as are the common areas.
The most distinctive feature of Coconut Marketplace is arguably the dated, multi-color system of historic plantation-era pipes in the common spaces. That will be removed, along with the tower hovering above it, and replaced with an Asian-inspired, landscaped open space.
“If they make physical improvements to the property, it will get more tenants,” said Mary Lou Mendes, owner and operator of Na Koa Enterprises Inc., which has six retail stores at the Marketplace. “The whole key to retail is keeping tenants informed and excited.”
Richard Booth, who has owned Aloha Kauai Pizza at the Marketplace with his wife for 16 years, said he’s excited for the new color scheme of beige and brown.
“It needs a new paint job — get rid of the submarine gray,” Booth said, adding that plans to fix up the restroom facilities will also be a welcome improvement.
While Harvey said the property’s biggest weakness is it’s “badly neglected” state, he said it’s greatest strength is a “tremendous number of really excellent tenants and retailers” — this in spite of the former.
“There are an amazing number of people in there in its run-down state,” Harvey said.
In addition to cosmetic changes, Harvey said the plans include upgrading the current tenancy by recruiting at least one mainstream family restaurant. He hopes this will draw more evening business between 6 and 9 so that stores can afford to stay open past 5 p.m. Harvey said he’s not strictly targeting national chains — just businesses with that sort of appeal.
In+Form Design of Honolulu is the architect on the project, which is still in the conceptual phase. Harvey said the changes will not result in additional square footage or density, which he hopes will lend itself to a speedy permitting process.
M & J Wilkow, a Chicago-based real estate investment and development firm, has fee and lease hold interest in Coconut Marketplace.
