The six luxury oceanfront homes being planned by Alexander & Baldwin Inc.’s real estate subsidiary has disclosed to PBN a price range for the six luxury apartment homes it developing on the Kahala property formerly owned by Japanese businessman Genshiro Kawamoto. Each is being priced between $6 million and $12 million, a spokeswoman for the Honolulu-based company confirmed to PBN Wednesday.
Specific prices for each of the six stacked residential units being designed have not been set but will fall somewhere in that range.
A&B Properties Inc. plans to spend up to $45 million to develop the complex on the 1.3-acre vacant parcel at 4607 Kahala Ave., as first reported by PBN.
The three two-story buildings, which will include garage porte cocheres, guest parking and a pool, will abide by the 25-feet height limit for the neighborhood.
A&B said planning and permitting for the project is anticipated to be completed in 2017 with construction following and an anticipated completion in 2019.
The company acquired about 30 of Kawamoto’s Kahala properties for close to $100 million in 2013, and has sold most of the properties.
Pacific Business News