The Market Place is home to more than 140 kiosks, restaurants, and shops. It covers almost 3 acres of land in the heart of Waikiki. It is owned by the Queen Emma Land Company, a subsidiary of the Queen's Health Systems which operates the Queen's Medical Center and Molokai General Hospital.

"I think what's important to understand is that all of the income from all of our properties, all of our land, go to support health care," said Mark Yamakawa, CEO of Queen's Health Systems and president of the Queen Emma Land Company.

Queen's hopes it can increase revenue generated at the Market Place by redeveloping the property. It also wants something new where the neighboring Waikiki Town Center stands and on property it owns along Kuhio Avenue from the Food Pantry to Perry's Smorgy Restaurant. The International Market Place, Waikiki Town Center, and the block housing the Food Pantry and Perry's Smorgy cover a combined 6.5 acres.

"Also included in our retail package is a site that the Miramar Hotel sits on. That particular site is being considered as an option piece so the developers we go out to can choose to include that parcel as part of the package or not," said Les Goya, Vice President of the Queen Emma Land Company.

The Queen Emma Land Company is asking developers to submit ideas. Current zoning allows for construction of apartments, entertainment venues, and retail. But there is no guarantee any of the shops or kiosks will be allowed to stay.

"A lot of people who worked here have been here for many years and their whole lives would be disrupted," said Sheila Feigin, a psychic reader at a booth called The Enchanted Banyan at the Market Place.

In 1988 vendors stormed the state capitol when it appeared the Market Place may be torn down. Guards had to escort lawmakers to safety.

Later the vendors protested in Waikiki. They were upset the land may be used for building the Hawaii Convention Center (which was eventually built elsewhere).

Next week vendors who lease space at the International Market Place will meet with the Queen Emma Land Company to discuss the latest development plans.

There is no firm timetable on when construction will begin, but certainly not before 2010 when the last Market Place leases expire.

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