03/22/21-PROPOSALS FOR BANYAN DRIVE PROPERTIES TO BE SELECTED NEXT MONTHPosted on Mar 22, 2021 in Land, Main, Media, News Releases
|DAVID Y. IGE
SUZANNE D. CASE
For Immediate News Release: March 22, 2021
PROPOSALS FOR BANYAN DRIVE PROPERTIES TO BE SELECTED NEXT MONTH
(HILO) – An evaluation committee, reviewing proposals for the renovation of two Banyan Drive properties, is wrapping up its work.
An announcement is expected in April, on the Selection for Proposals for Banyan Drive Properties, which involves the renovations of the former Uncle Billy’s Hilo Bay Hotel and Country Club Condominium Hotel. The committee is evaluating proposals that were submitted in response to a Request for Proposals (RFP), published in August 2020.
DLNR reports the RFP garnered interest from both local and mainland developers. Despite the impacts of COVID-19 on tourism and the overall economy, multiple proposals were submitted. The number of proposals and identities of the entities that submitted them can’t be disclosed at this time.
Once the evaluation committee selects proposals for the two properties, the DLNR will present the selections to the Board of Land and Natural Resources for review. If the Board approves the selections, the next step will be to negotiate development agreements and new leases for the properties.
DLNR Chair Suzanne Case said, “We believe that the renovation of the properties under new long-term leases, as with previously renovated hotels on the peninsula, will contribute greatly to the revitalization of Banyan Drive, making it a destination for residents and tourists alike.”
The evaluation committee includes members from the Hawai‘i County Banyan Drive Hawai‘i Redevelopment Agency, the state Department of Business, Economic Development and Tourism, and DLNR representatives.
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Senior Communications Manager