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U.H. RISE-ing Part I: A P3 Success Story

Abstract:

The vision for the U.H. RISE project seeks to bring together students from a variety of academic disciplines who have a shared interest in innovation and entrepreneurialism in a first-of-its-kind, Live-Learn-Work community. But it is not just the project’s purpose that speaks to innovation. Virtually every element of the project represents some form of innovation, from the financing and deal structure, to the way the team was brought together, to the organizational structure and ownership of the project. Much of what this project team has accomplished blazes new trails for the development of public facilities in Hawai‘i.

Long the topic of conversation and speculation, Public-Private Partnerships (P3) have been seen by many as the newest and best way to deliver impactful projects to communities throughout Hawai‘i. And while promises and opportunities are plentiful, real-world examples remain elusive. Why, if the benefits of P3s are so obvious, have we not seen dozens of P3 projects undertaken in Hawai‘i? The short but brutally honest answer is – because it is really, really hard work. In this session, learn from the group that has put in that hard work to move this incredible project from concept to concrete.

Track: ‘ELUA (Track 2) – Sustainability, Planning & Construction

Session #: 2C

Date: November 18, 2022

Time: 2:00 PM -3:00 PM

Location: Expo Hall

AIA CEUs: 1 LU

Presented by: GCA of Hawaii & PBX Hawaii

Panelists:

John Han, Vice President for Administration & CFO
University of Hawai‘i Foundation

John Han monitors and manages over $700 million in assets held for the benefit of the University of Hawai‘i. He received a Bachelor of Science in Computer Science from Hawai‘i Pacific University and a Master’s in Business Administration from UH Manoa. One of John’s most ambitious projects includes the $70 million bond-financed public-private partnership RISE (Residence for Innovative Student Entrepreneurs) student housing project with 374-beds. The property aims to attract business-minded students interested in entrepreneurship and the PACE (Pacific Asian Center for Entrepreneurship) program to support those students. Before joining the UH Foundation, John worked in Silicon Valley as a data architect and programmer for a start-up and Electronic Arts.

John Han
Vice President for Administration & CFO
University of Hawai‘i Foundation

Kalbert Young
Vice President for Budget and Finance & CFO University of Hawai‘i System

Kalbert Young has held his current position since early 2015. He previously served as director of the Department of Finance for the State of Hawai‘i for four years, a post whose responsibilities included managing and advising on the state’s $11+ billion budget. He also was the director of finance for the County of Maui from 2004 to 2010, serving under two mayors, and has worked in the private sector for the Kapalua Land Co. and Kamehameha Schools as an internal auditor. Kalbert has served as a trustee on the board of the Hawai‘i State Employees’ Retirement System and is currently a trustee on its Deferred Compensation (457) Board. He earned a bachelor’s degree in American History and a Master’s of Business Administration, both from the University of Hawai‘i at Manoa.

Kalbert Young, Vice President for Budget and Finance & CFO
University of Hawai‘i System

Michael Lam, Senior Vice President of Development
Hunt Development Group, Hawai’i Division

Michael Lam brings over 20 years of experience in real estate development in Hawai’i and across the Pacific Rim to Hunt. He is responsible for the development and asset management of key Hunt Hawai’i projects, including ʻAhuimanu, a 42,000 square-foot grocery-anchored neighborhood center in historic Kilauea Town on Kaua’i. He earned a Bachelor of Science in international business from Pepperdine University, a Master of Science in real estate development from the Massachusetts Institute of Technology and a Master of Business Administration from the Johnson Graduate School of Management at Cornell University. Michael is the board president for Re-use Hawai’i and serves on the Board of Directors for Pali Momi Foundation.

Michael Lam
Senior Vice President of Development
Hunt Development Group, Hawai’i Division

Moderator:

Lance Wilhelm, President
The Wilhelm Group

Lance Wilhelm began his career in construction as an office manager trainee for Kiewit Pacific Co. in 1989. The position no longer exists as the functions related to the job have been automated out of existence. 25 years later, Lance left Kiewit Infrastructure West Co. as its vice president of Hawai'i operations having spent his last several years with the firm helping to oversee the first three construction contracts for Honolulu’s rail program.  Lance spent the next three years as Irongate’s managing principal, before forming his own consulting and management firm, creatively named The Wilhelm Group. Today Lance and his team are involved in a wide variety of projects in both the public and private sectors, in engagements that range from early-stage development to construction management.

Lance has served on numerous boards as director and trustee including a number of ERISA trust funds, non-profits such as Kupu Hawaii and the YMCA, industry groups like the GCA, and educational institutions such as Hawaii Pacific University and Island Pacific Academy. In 2012, Lance was appointed to the board of trustees of the Kamehameha Schools.

Lance Wilhelm, President
The Wilhelm Group
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