March 4, 2014 - Taubman Centers, Inc., CoastWood Capital Group, LLC and Queen Emma Land Company, this week announced the ceremonial groundbreaking for the new International Market Place. Scheduled to open in spring 2016, the 360,000 square-foot shopping center will feature open-air retail, dining and entertainment located in the heart of Waikiki.
International Market Place will include approximately 75 retailers, seven restaurants, and the island's first full-line Saks Fifth Avenue. Designed to subtly celebrate the rich history of the site, it will offer a Hawaiian sense of place that honors Queen Emma's legacy while adding vitality and appeal to Waikiki for tourists and residents alike. "The revitalized International Market Place will truly complement the Waikiki shopping experience," said Taubman Chief Operating Officer William Taubman. "We will feature many distinctive retailers not found anywhere else in Waikiki, thus creating a dynamic retail and dining destination." As one of the most valuable land assets of Queen Emma Land Company, the redeveloped International Market Place will directly support The Queen's Medical Center, the state's largest private, nonprofit hospital and its mission of providing quality healthcare to all of Hawaii's people. "The new International Market Place will become a new and sustainable income source for The Queen's Medical Center, helping us provide much-needed quality health care and access to specialized medical services," said Eric Martinson, president of Queen Emma Land Company. "The groundbreaking ceremony marks a milestone for us as we continue to honor the legacy of Queen Emma." Hawaii Governor Neil Abercrombie and Honolulu Mayor Kirk Caldwell expressed support for the project, citing how it will further grow Waikiki's reputation as a top tourist destination for people from around the world in addition to creating approximately 1,000 construction jobs and approximately 2,500 permanent jobs. "This groundbreaking is the culmination of a great collaboration between Taubman, CoastWood, Queen Emma Land Company and the local community," said Cordell Lietz, president of CoastWood Capital Group. "We want to thank everyone involved as we now move forward into the construction phase of this exciting project." At the conclusion of the groundbreaking ceremony, William Taubman presented a $10,000 check on behalf of the new International Market Place to the Hawaii Foodbank, a non-profit organization dedicated to feeding Hawaii's hungry. Serving the people of Hawaii for nearly 30 years, the Foodbank forms a vital link between food donors and member agencies by collecting, sorting, salvaging and distributing food. Last year the Foodbank distributed over 12.8 million pounds of food, including nearly 4 million pounds of fresh produce to help feed 183,500 different people in need statewide.