Water for Life is  the Board of Water Supply motto.

Thousands of people drive by the iconic fountain fronting the downtown offices, but look behind it and there's lots of space now used for employee parking.

The Board of Water Supply is looking to redevelop the 6-acre site.

"We are not going to sell the land. I want to make it real clear to our customers and the public. Our idea is to seek a long-term ground lease," said chief engineer Ernie Lau.

The lot is zoned residential, but it's been no secret that the Queen's Medical Center is interested in the parcel as part of its master plan.

It will have to compete with other developers who may have ideas of their own.

The city just wants to get the best deal for taxpayers.

The request for proposals is broad and there's no guarantee the buildings--an example of early Hawaii modernism will stay.

The only thing protected is the historic pump station and wells since  it is an active facility. 

"I think the rest of it can be developed and if they can buildable housing for our people at affordable rates, that's wonderful," said Councilwoman Ann Kobayashi. The Manoa councilwoman pushed the Board of Water Supply to find some other way to generate revenue instead of just raising rates.