“We are excited to bring Niumalu Marketplace to the village of Kailua-Kona later this year. This Safeway anchored retail center will be a focal point of the community and will have a complimentary mix of local and national retailers and restaurants.” said Thomas Reiter, President of CREDE.
Conversations over naming the marketplace were discussed by local Kona historian, Aunty Fanny AuHoy and Kumu Hula Etua Lopes, hence the name Niumalu was born. The literal meaning of Niumalu is the shade of a coconut tree, where local residents may recognize this as the traditional name of the beach to the north of Kona’s Hulihee Palace.
The development team is comprised of CREDE and Blue Vista Capital Management who acquired the 20-acre commercial piece in late 2017. Liberty Mutual Insurance, AHL (formerly Architects Hawaii), R.M. Towill, E.M. Rivera & Sons, Unlimited Construction, Griffith Consultants and Jones Lang LaSalle round out the development team.
This project is estimated to have created 300 construction jobs and several hundred more long-term jobs by the time Niumalu Marketplace has been completed. Safeway estimates more than doubling its current workforce from 100 employees to approximately 200-250 employees when the new store opens.
CREDE and Blue Vista Capital Management have Hawaii ties to various projects on Oahu. This is their first venture into the West Hawaii market.