04/27/23 – REDEVELOPMENT OF BANYAN DRIVE MAY TAKE A STEP FORWARD TOMORROW

Posted on Apr 27, 2023 in BLNR, Land, News Releases, slider JOSH GREEN, M.D. GOVERNOR DAWN CHANG CHAIRPERSON For Immediate Release:  April 27, 2023 REDEVELOPMENT OF BANYAN DRIVE MAY TAKE A STEP FORWARD TOMORROW  To view video please click on photo or view at this link: https://vimeo.com/570714523 (HONOLULU) – On Friday, the state Board of Land and Natural Resources (BLNR) will decide whether to approve the selection of  Banyan Drive Management LLC (BDM) to conduct a $20 million dollar renovation of the former Country Club Condominiums complex. It is one of six buildings on state-owned land, along iconic Banyan Drive in Hilo. BDM plans to do a complete makeover of the property, including its 152 residential units, the lobby, restaurant space, elevators, and swimming pool. Additionally, the firm plans to repave all parking and driveway areas and put in new landscaping. Once the renovation is complete, BDM proposes operating the structure mostly as a long-term rental (80% long term and 20% extended stay hotel rooms). The company was one of two to submit bids, after the DLNR Land Division issued a request for proposals. The highest-ranked bidder was Savio SB Growth Venture LLC (SVG). Earlier this month, SVG withdrew from
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