UH Board of Regents approves land sale agreement with Hunt Building Corporation
Approval provides financing of infrastructure and construction costs for new UH West Oahu campusUniversity of Hawaiʻi-West Oʻahu
UH West Oahu
KAPOLEI, Oʻahu — At its monthly meeting held this week, the University of Hawaiʻi Board of Regents (BOR) approved a purchase and sales agreement between the University of Hawaiʻi and Hunt Building Corporation. The agreement was expected as part of the development for the UH West Oʻahu campus in Kapolei.
The purchase and sales agreement will generate $100.14 million in revenues in exchange for approximately 298 acres of fee simple property at Kapolei. Approval of the purchase and sales agreement provides the means to finance the infrastructure and construction of the new UH West Oʻahu campus. Earlier this month, the state Legislature approved CIP funding of $35 million in general obligation bonds and a $100-million spending ceiling authorization in special funds that will allow the university to accept and expend revenues to support the new campus development.
"The Regents‘ approval today enables us to progress toward the next step in developing this long awaited campus at Kapolei," said Gene Awakuni, UH West Oʻahu chancellor.
The West Oʻahu campus continues to work towards meeting the higher education needs of Leeward and Central Oʻahu. The campus will take a major step forward in its efforts when it welcomes its first freshman class this fall, leading towards the opening of its new campus in Kapolei, which is scheduled for Fall 2009.
When fully completed, the UH West Oʻahu campus will serve approximately 7,500 students and 1,000 faculty and staff. UH West Oʻahu has begun the transition from an upper division, two-year program to a four-year baccalaureate program to make higher education more readily accessible to underserved youth and residents in West Oʻahu. The new West Oʻahu campus is also expected to help alleviate traffic congestion on Oʻahu‘s roads from the west side to downtown Honolulu and Mānoa Valley. Students, faculty and staff will be encouraged to walk, bike or use fixed rail to school or work.
For more information, visit: http://westoahu.hawaii.edu