Hawaii pubTV will profit from land sale

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The Hawaii Public Television Foundation is selling land it bought in 2003 to house PBS Hawaii, reports the Honolulu Star Bulletin. The foundation bought the property in Waikiki for $2.4 million in 2003, and its value has since tripled. Technical issues and 60-foot zoning restrictions thwarted plans to create a broadcast center there. The foundation “will invest proceeds from the sale of the Waikiki property into a long-term home for PBS Hawaii, which has been unable to secure a long-term lease with the University of Hawaii for years,” reports the paper. The station has offered to renovate and expand its current home at the University’s Manoa campus in return for a 30-year lease.