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Honolulu condominium project revived after seven years on the shelf

May 30, 2014 By idx guys Leave a Comment

photo3-600xx390-585-70-0Honolulu condominium project revived after seven years on the shelf

Duane Shimogawa Reporter – Pacific Business News

Plans for a nearly 140-unit mid-rise residential condominium called Skyline Honolulu, to be built on the slopes of Punchbowl crater on Prospect Street in Honolulu, have been revived after about seven years on the shelf by the developer, an affiliate of Honolulu-based Form Partners LLC confirmed to Pacific Business News.

Form Partners is the same developer for several Hawaii projects including The Vanguard Lofts in Honolulu and Robertson Properties’ $767 million planned mixed-use project on the former Kamehameha Drive-in Theater in Aiea, which was just approved this week by Honolulu Mayor Kirk Caldwell.

Bill Deuchar, a partner of U.S. Pacific Development LLC, an affiliated company of Form Partners, for which he is also an advisor, told PBN that a much improved economy today is the main reason why the project has been revisited.

Additionally, he pointed out that Skyline Honolulu has been scaled back to offer a lower price point, although no price points have been set yet.

“[The project] may wind up being a rental apartment building or we may put it up as a for-sale project,” Deuchar said. “The way I see the market, I see so much high-end stuff. I’d rather be fighting it out in the lower-end rather than the higher-end. Our project is more community-oriented.”

He did not specify a cost to develop the project, although he noted that if it sells all of the units, it could fetch about $60 million.

The five-story project, which will include studio, one- and two-bedroom apartments, is anticipated to start construction in the first quarter of 2015 with a completion scheduled for 14 to 16 months after that.

Honolulu-based Richard Matsunaga & Associates Architects Inc. and U.S. Pacific Development were chosen to design and build the project, Deuchar said.

He estimated that it should create up to 200 construction jobs, but that some entitlements are still needed to get the project going.

Prospect Properties LLC, an affiliate of Form Partners, bought and consolidated 1.6-acres of land on the slopes of Punchbowl in 2007.

But since then, the project has not made any major moves towards development.

The consolidated purchase included five different owners/sellers of nine separate parcels made up of 12 single- and multi-family structures with nearly 20 tenants.

U.S. Pacific Development handled the acquisition, financing and the design of what was then a 95-plus unit, four-story mid-rise building made up of one-, two- and three-bedroom residences with a pool, recreation room, rooftop decks, a community rooftop deck, recreational areas and underground parking.

The company, at that time, estimated that the total project sales were expected to exceed $80 million.

U.S. Pacific Development said that it has secured agreements with the Punchbowl Special Design District, addressing community concerns and attaining all required impact studies necessary to get the special design district permit for the area.

Filed Under: Featured Blog, New Condo Construction Tagged With: Form Partners LLC, new condo construction, New Condos, new construction

HO’ONANI CONDOMINIUM HOMES COMING SOON!

April 25, 2014 By idx guys Leave a Comment

HO’ONANI CONDOMINIUM HOMES COMING SOON!
Contemporay Living in Ewa Villages

Here are some highlights of these brand new homes.
• 3-4 Bedroom Floor Plans
• Starting from $460,000’s
• Amenities Include:
o Central Air-Conditioning
o Free standing gas range with self-cleaning oven and built in automatic dishwasher
o Tankless Gas Water Heating System
o Low E Windows
o 10-year Homebuilders Warranty
o And Much More

HO'ONANI CONDOMINIUM HOMES COMING SOON!

HO’ONANI CONDOMINIUM HOMES COMING SOON!

HO'ONANI CONDOMINIUM HOMES COMING SOON!

HO’ONANI CONDOMINIUM HOMES COMING SOON!

HO'ONANI CONDOMINIUM HOMES COMING SOON!

HO’ONANI CONDOMINIUM HOMES COMING SOON!

 
[contact-form to=’[email protected]’ subject=’Inquiry Ho%26#039;onani Condominiums’][contact-field label=’Name’ type=’name’ required=’1’/][contact-field label=’Email’ type=’email’ required=’1’/][contact-field label=’Website’ type=’url’/][contact-field label=’Comment’ type=’textarea’ required=’1’/][/contact-form]

Filed Under: EWA, Featured Blog, Ho'onani Condos Tagged With: new construction

Kapiwai subdivision near Downtown Honolulu to feature luxury homes, sustainability

March 9, 2014 By idx guys Leave a Comment

Mar 5, 2014, 2:31pm HST UPDATED: Mar 5, 2014, 3:17pm HST
Kapiwai subdivision near Downtown Honolulu to feature luxury homes, sustainability

Duane Shimogawa Reporter – Pacific Business News

This rendering shows one of the homes planned for the Kapiwai project in Pauoa, near Downtown Honolulu.

This rendering shows one of the homes planned for the Kapiwai project in Pauoa, near Downtown Honolulu.

A Honolulu attorney who’s represented some of Hawaii’s largest hotel, resort and commercial landowners is leading a local hui of investors who are developing a community of 24 homes priced at an average of $1.6 million each in Honolulu’s lush Pauoa Valley that will include open space and a nonprofit component focusing on sustainability.

Located at the end of Booth Road, Kapiwai, which is being marketed to potential buyers as having the chance to live near Downtown Honolulu while being close to nature, with opportunities to grow a garden, restore an auwai or a water channel for irrigation and catch crayfish in the stream, will be built atop a ridge overlooking a stream.

Barry Sullivan, partner with Bickerton Lee Dang Sullivan Meheula, is working with the newly formed Schatz Clifford LLC sustainable development firm, which is headed up by Linda Schatz, a former development manager for Kamehameha Schools and wife of U.S. Sen. Brian Schatz, and Janine Clifford, president of Honolulu-based Clifford Planning & Architecture, on the new 15-acre development.

Sullivan, the managing member of Pauoa Valley Preserve LLC, the owner and developer of the project, said that the property is zoned for 137 units.

The property, which Sullivan and other investors bought in 2004 from an Evangelical Lutheran Good Samaritan Society out of North Dakota, has been fallow for three decades. The church once had plans to build a 141-unit senior housing facility and a 106-bed assisted-living facility on the property, he said.

Sullivan, who declined to disclose the cost of developing the project, said that it’s very much a legacy project for himself and others involved.

“It’s something that was very carefully planned out,” he said. “It’s going to be a community that people are going to want to live in, a very vibrant place.”

Linda Schatz, the project manager, told PBN that only about half of the 15 acres will be developed into homes, ranging from 1,600 square feet to 2,400 square feet with the average size of each home site at 11,000 square feet.

The other seven acres will be kept for a preserve of gardens that will be protected from future development and will be run by Kapiwai Gardens LLC. The new nonprofit will be seeded with funds from the project sales and homeowners will have access rights to and across the gardens with the intent to slowly work to restore the grounds.

There are also plans to build a new 100,000 gallon reservoir on the property for the Board of Water Supply, which will service Pauoa neighborhoods downstream of the reservoir, including Kapiwai.

“Projects now have to look at the triple bottom line,” Linda Schatz said. “There are more projects out there in Hawaii like this.”

Ironically, Linda Schatz and Clifford got together during the beginning stages of the Kapiwai proejct, which eventually led to the creation of the new firm.

Kapiwai will be designed by renowned architects Joel Turkel of Turkel Design and Mark de Reus of de Reus Architects. Kauai-based Unlimited Construction is the general contractor.

Filed Under: Featured Blog, New Homes Tagged With: new construction

Castle & Cooke’s new Ho’onani neighborhood

January 23, 2014 By idx guys Leave a Comment

If you’re looking to buy a brand new home in historic Ewa Villages, now is the perfect time. Castle & Cooke’s new Ho’onani neighborhood offers brand new, single family homes starting from just $580,000 fee simple. Plus, if you act quickly, you can take advantage of the following special incentives available for a limited time.

EwaHo’onani Special Incentives
– $5,000 Pre-construction Design Center Credit*
– 2% Closing Cost Credit**

Overlooking the Ewa Villages Golf Course, the homes of Ho’onani are minutes from the Laulani Village Shopping Center, Ewa’s newest big-box retail hotspot, as well as the state-of-the-art lifestyle facilities at the Kroc Center, which feature a water park; a center for health, wellness and athletics; an art studio; and a five-hundred-seat performance center.

Yet Ho’onani is a world apart. Drive home past the colorful cottages and friendly smiles of the old plantation days, under a canopy of trees that have shaded generations.

Choose from seven floor plans. Find the one that’s right for your family, and come home to the best of both worlds, old and new.

Like the hala tree, this classic three-bedroom, two-bath home has its roots firmly anchored in Hawai'i. Built on a single level, the Hala model boasts long interior view planes that evoke a feeling of days gone by-while incorporating contemporary layout features such as separate family and living areas, and a master bedroom with walk-in closet.

Like the hala tree, this classic three-bedroom, two-bath home has its roots firmly anchored in Hawai’i. Built on a single level, the Hala model boasts long interior view planes that evoke a feeling of days gone by-while incorporating contemporary layout features such as separate family and living areas, and a master bedroom with walk-in closet. Three Bedroom, Two Bath
Single Floor – 1,481 sq. ft.
Covered Lanai – 93 sq. ft.
Garage – 404 sq. ft.
Covered Entry – 28 sq. ft.
Total – 2,006 sq. ft.
Total Living Area – 1,481 sq. ft.

Ho’onani – Features & Options

Included Features — Exterior

Central Air-Conditioning System
HardiePanel® and HardiePlank® Siding
Asphalt Roofing Shingles (30-Year Manufacturer’s Warranty)
Tankless Gas Water Heating System
Covered Entryway
Covered Lanai
Double glazed vinyl sliding glass doors and windows with mesh screens
Low E Windows
R-30 Insulation at Roof
R-13 Insulation at exterior walls and wall between garage and house
Garage Door with Glazing, (2) infrared remote controls
Vinyl Fence and Gate
USPS Approved Cluster Box Units for mail delivery

Included Features — Interior

Kohler plumbing fixtures
Free standing gas range with self-cleaning oven
Ductless range hood
1/2-horsepower garbage disposal
Built-in automatic dishwasher
Corian® kitchen counter tops
Cultured Marble Bathroom Countertops with Integrated Bowl
Master bedroom walk-in closet for most models
Mirrored wardrobe doors
Wire shelving in wardrobe closets
Wall-to-wall carpet except at kitchen, baths, and front entry

Options — Interior

Refrigerators
Over-the-range microwave oven/hood combination
Washer and/or Dryer
Kitchen cabinet and counter top upgrades
Pull-out faucet at kitchen and kitchen sink upgrades
Bathroom countertop upgrades
Front door upgrades
Garage door upgrades
Extensive flooring choices
Security system upgrades

This artistic rendering may assist the public in visualizing the homes; however, may not accurately depict homes when built. The developer, its agents, associate companies and suppliers reserve the right to modify plans, specifications and features without prior notice.

 

Filed Under: EWA, Ewa, Ewa Beach, EWA BEACH, Featured Blog, New Homes Tagged With: new construction

Hawaii agency to decide on second condo tower at 801 South St.

December 6, 2013 By idx guys Leave a Comment

Dec 3, 2013, 6:54am HST

Duane Shimogawa Reporter – Pacific Business News

The Hawaii Community Development Authority expects to make a decision on Wednesday regarding a Honolulu developer’s plan to build a second residential tower in Kakaako with an accompanying 10-story parking garage on the site of the former Honolulu Advertiser building, the state said Monday.

The state agency that’s overseeing the redevelopment of Kakaako is holding a second public hearing on the permit application by Downtown Capital LLC, which is headed up by Hawaii developer Marshall Hung, on Wednesday at its office at 461 Cooke St., starting at 9 a.m.

The workforce housing condominium, which would include some 400 units, is part of the 801 South St. project, which includes a first phase of 635 units that have sold out.

Together, the two towers are expected to have a total of about just over 1,000 units.

The 801 South St. project is expected to cost $400 million to develop and will create 350 construction jobs.

The second building application will include a partial demolition of the back portion of the existing Honolulu Advertiser building, which was once used as a soundstage for the CBS crime drama “Hawaii Five-0.”

Filed Under: Featured Blog, KAKAAKO, Kakaako, New Condo Construction, New Condos for sale Tagged With: Kakaako, New Condos, new construction

Condo Mania! – Jun 03, 2013 (The Honolulu Star-Advertiser – McClatchy-Tribune Information Services via COMTEX

June 6, 2013 By idx guys Leave a Comment

makikiLanikea. Hokua. Ko’olani. Capitol Place. Keola La’i. Moana Pacific. The Watermark. Allure Waikiki. Pacifica Honolulu. Holomua.

These condominium towers in Honolulu were the product of the last real estate market boom, which prompted developers to build close to 4,000 new units in more than a dozen towers that also included The Pinnacle, 909 Kapiolani and 215 N. King.

So is it shocking that developers are now planning to push out an even bigger number of high-rise homes — almost 5,000, including 1,000 rental units — in Oahu’s urban core?

To some observers it’s hard to imagine demand meeting such a supply.

But developers, along with a local economist and a real estate market analyst, contend that all the projects planned to date won’t produce a glut.

“It’s not a question of will there be enough buyers,” said economist Paul Brewbaker of Honolulu-based TZ Economics. “The problem is, will there be enough condos?”

Local real estate market analyst Ricky Cassiday said there may be two or three more towers in addition to what’s already been announced that conceivably could succeed in the market.

“We’re at this amazing moment in the cycle where everything is perfect,” he said.

Brewbaker and Cassiday say factors supporting a new boom in Honolulu high-rise housing development include record tourism that translates to lots of visiting prospective second-home buyers, a dearth of home construction in recent years, a strengthening economy and low interest rates.

Cassiday said 5,000 units sounds like a lot, but in his view there is enough diversification among the projects in terms of timing, pricing and occupancy (owning versus renting) to satisfy demand.

Relatively little current home construction in Oahu’s suburbs and the promise of the city’s planned rail line running near several of the announced tower projects are other factors that lead Cassiday to conclude that this building wave of new high-rise housing in Honolulu will be bigger than the last one.

Developers cite the response from buyers to the first three tower projects to hit this upward market cycle: Waihonua at Kewalo, One Ala Moana and 801 South St.

The first was Waihonua, a tower on Queen Street at the base of Pensacola Street that local developer Alexander & Baldwin Inc. started selling and building toward the end of last year.

A&B recently reported that 321 of the tower’s 341 units, which are priced between $375,000 and $1.9 million, were sold as of May 8, including 302 binding contracts that generated $33 million in nonrefundable deposits for A&B. Waihonua is slated to be completed by March 2015.

The second project was One Ala Moana, a 210-unit luxury tower atop the Nordstrom store parking garage at Ala Moana Center where units are priced from $583,000 to $9 million.

About 400 prospective buyers lined up in December for half those units made available publicly, while much of the other half was sold in Japan. All units sold, and construction began earlier this year on the project by local development firms MacNaughton Group and Kobayashi Group in partnership with Howard Hughes Corp.

At 801 South, buyers snapped up all 635 units priced between $253,200 and $501,300 in March, leaving about 300 lottery entrants empty-handed. Demolition began recently to prepare the site for construction of the project led by local affordable housing developer Marshall Hung.

Perhaps not surprisingly, A&B, MacNaughton/Kobayashi and Hung produced the initial towers during the last market upswing — Lanikea in Waikiki, Hokua in Kakaako and 215 N. King near Chinatown, respectively.

The next condo tower expected to launch sales is Symphony Honolulu, a 388-unit project on the mauka-Ewa corner of Ward Avenue and Kapiolani Boulevard, this summer.

After that, competition will become tighter with five more towers, all of which recently applied for permits from the state agency governing development in Kakaako, the Hawaii Community Development Authority.

Hughes Corp., the Texas-based owner of Ward Centers, plans three of the five with 900 units at its Ward property. Prices and names for the towers have yet to be specified, though one tower will be moderately priced to satisfy HCDA rules.

A&B plans one tower at the former site of a CompUSA store at the corner of South Street and Ala Moana Boulevard. This project with 466 units that include some townhomes is named The Collection. Unit prices range from the high $300,000s to the mid-$700,000s.

California-based Developer Franco Mola plans the fifth tower, just Diamond Head of Imperial Plaza on Waimanu Street near Cooke Street. This project, called 803 Waimanu, features 217 units priced from $249,000 to $586,000.

A sixth condo tower is planned on the outer edge of Waikiki on the Central YMCA property. This project, called Aloha Kai, is slated for 128 units and is seeking a zoning change from the city.

Also added to the whole condo mix are two rental towers. One, called Halekauwila Place, with 204 units, is under construction by local developer Stanford Carr. The other, called 690 Pohukaina, slated for 804 units, is planned by Ohio-based Forest City Enterprises Inc., which is negotiating with HCDA on a development agreement to build the project on state land.

“There’s a tremendous amount of demand for new housing,” said Ann Bouslog, longtime isle housing market analyst who recently joined Forest City as its development manager.

Cassiday predicts that the optimal window for delivering new residential high-rise projects in Honolulu is 2015 to 2017. Given that construction takes two years for a typical tower, that means starting within the next two years.

Brewbaker recently told a local business group that included a panel of developers that they will wish they had produced a new residential building before 2018.

As often happens, there may be more than one project that misses the upswing and either doesn’t get off the ground or gets caught in mid-development when demand disappears.

During the last boom there were at least seven towers with about 1,800 units announced that didn’t get developed. They included 1723 Kalakaua, which opened a sales office in 2008, another one nearby and a tower called Ko’olua next to Ko’olani in Kakaako.

Because lenders generally require developers to presell a substantial number of units before construction may start, a lack of demand can naturally limit how many planned projects break ground.

Permitting can also be a challenge. A&B pursued three towers in Kakaako Makai next to Kakaako Waterfront Park during the last boom, but that plan was derailed by public opposition and the Legislature.

Two projects that were under construction at the tail end of the last boom, Moana Vista and Allure Waikiki, failed and were taken over by lenders and then later revived by new developers. In Moana Vista’s case the tower became Pacifica Honolulu and was finished by San Diego-based Oliver McMillan, which is developing Symphony Honolulu with partner JN Automotive.

___ (c)2013 The Honolulu Star-Advertiser Visit The Honolulu Star-Advertiser at
www.staradvertiser.com Distributed by MCT Information Services

Filed Under: Featured Blog, Honolulu, New Condos for sale, New Homes, Oahu Communities, Oahu condos for sale Tagged With: new condo construction, new construction

Three condo towers, 900 units, in first phase of Howard Hughes Corp.’s Ward master plan

May 25, 2013 By idx guys Leave a Comment

May 21, 2013, 9:44am HST Updated: May 21, 2013, 1:50pm HST
Duane Shimogawa  |  Reporter- Pacific Business News

The Howard Hughes Corp. plans to add more than 900 residential units in two market-rate condominium towers and one mostly affordable residential tower as part of the first phase of its Ward Village master plan in Honolulu’s Kakaako neighborhood.

This rendering shows The Howard Hughes Corp.'s planned market-rate condominium towers, which located diagonally across the street from each other at the corner of Auahi and Kamakee streets, part of the developer's Ward Village master-planned community.

This rendering shows The Howard Hughes Corp.’s planned market-rate condominium towers, which located diagonally across the street from each other at the corner of Auahi and Kamakee streets, part of the developer’s Ward Village master-planned community.

David Striph, senior vice president of Hawaii for Dallas-based Howard Hughes Corp. (NYSE: HHC) said Tuesday that the developer is in the process of renovating the iconic IBM Building into a new information center and sales gallery as part of its first phase of the 60-acre urban master planned community that would eventually double the retail, dining and entertainment space in Kakaako.

Ninety percent of the units in a 415-unit tower planned for 404 Ward Ave., which would include commercial space and parking, would be affordable, with the rest market rate.

Nick Vanderboom, senior vice president of development for The Howard Hughes Corp., said that the two market rate towers — one planned for a surface parking lot across from the Consolidated Theatres Ward Stadium 16 and the other at the current Pier 1 Imports location diagonally across the street — will have a total of 500 units. Pier 1 Imports (NYSE: PIR) will be relocated to another spot to accommodate the tower.

Vanderboom said that one tower will have 300 units and the other will have 200 units, but the price ranges for both are still being worked out.

Visit www.KakaakoProperties.com for more Kaka’ako information

The plan is to build the out the first phase concurrently with the affordable tower being the first application submitted to the Hawaii Community Development Authority. A hearing for the project is scheduled for next month.

Vanderboom says he expects that it will submit applications for the other projects some time this summer.

Groundbreaking for the first phase is scheduled for early next year with an expected finish date in early 2016, he said.

Howard Hughes Corp. has selected architects for the first phase, including an unidentified local firm, but has yet to choose general contractors for the first phase, Vanderboom said.

This first phase is expected to have an economic impact of $1.25 billion, create 9,000 direct and indirect jobs and add more than 1.5 million square feet as well as more than 900 residential units to Kakaako, which is being called “The Third City.”

Howard Hughes Corp. said that it has gone beyond many of the requirements for development under the master plan approved by the HCDA, noting that the towers in the first phase will have a mauka-makai orientation, which will showcase the views for residents while preserving the skyline for others.

The company also plans to build more than three times the required affordable housing in the first phase and new buildings along Ala Moana Boulevard will be set back to create a “greenbelt lined with townhouses.”

Ward’s approved master plan allows for up to 9.3 million total square feet of mixed-use development, including more than 4,000 residential units and about 1.5 million square feet of retail and other commercial space, said David Weinreb, CEO of Howard Hughes, in a letter to shareholders in March.

He noted that Ward Village has development rights for 22 high-rise towers in an urban master-planned community setting. Ward Village’s transformation is scheduled to happen throughout the next decade.

Visit www.KakaakoProperties.com for more Kaka’ako information

Filed Under: Ala Moana - Kakaako, Featured Blog, Howard Hughes Corp, Kakaako, Luxury Condos for sale, Luxury real estate, luxury real estate Oahu, New Condos for sale Tagged With: Howard Hughes Corp, Kakaako, new condo construction, new construction

D.R. Horton ‘flex’ homes in Hawaii allow work-life balance

April 30, 2013 By idx guys Leave a Comment

Brian Smith opened his Pray Eat Love Cafe on the first floor of his "live-work" unit in the Nanala community of D.R. Horton's Mehana subdivision in Kapolei.

Brian Smith opened his Pray Eat Love Cafe on the first floor of his “live-work” unit in the Nanala community of D.R. Horton’s Mehana subdivision in Kapolei.

D.R. Horton ‘flex’ homes in Hawaii allow work-life balance

Apr 30, 2013, 2:41pm HST
Jenna Blakely  |  General Assignment Reporter- Pacific Business News

Flexible work hours and work-life balance — we hear those words a lot at Pacific Business News as companies of all industries in Hawaii say they are trying to adapt to those demands.

D.R. Horton — Schuler Division has been building homes for the past several years in its Mehana mixed-use master plan community in Kapolei that are designed to make work-life balance easier with “live-work units” where residents can run a business from home.

Brian Smith, an active-duty nurse with the U.S. Air Force, had envisioned opening his own business for the past five years.

“I talked with someone at D.R. Horton and things fell into place,” he said. “I live on the second and third floors and my shop is on the first floor.”

Smith opened the Pray Eat Love Cafe in February out of his Kapolei home at 533 Manawai St., which is one of 20 live-work units in the Nanala community within Mehana.

Smith has hired three part-time employees to staff the cafe, which is open Monday through Saturday for breakfast and lunch.

“Business has been tough at first, we’re deep in the community so people don’t know we’re back here,” he said. “But when people do come in, they love the place and we’re developing a nice clientele even beyond the neighborhood — we’re getting folks from further out.”

He named it Pray Eat Love to resemble his mission for the cafe.

“The place is set up for small groups and Bible study groups to gather, grow and learn from each other — ohana,” he said. “The eat portion is the sandwiches and drinks. A chef that lives behind us came over and helped me design the sandwiches. And the love portion is for charity; We pick one charity per month and at the end of the month we write them a check.”
D.R. Horton (NYSE: DHI) built more live-work units in its newest Mehana community called Awakea, which began sales in April. It consists of 115 townhomes with eight different floorplans, one of which features live-work units, or “flex homes.”

Additionally, 10 commercial condos averaging 500 square feet will be available for business use. In sum, Awakea will provide around 15,000 square feet of new business space, according to a statement.

“We only released eight townhomes so far and some were residential only,” said Sales Manager BJ Nagata of Awakea. “Three of those were live-work units and we sold those three.”

Kapolei Homes Up To $650,ooo (fs)

 

Filed Under: DR Horton, Featured Blog, New Homes Tagged With: DR Horton, Kapolei, new construction

Developer must revise design of proposed Ritz-Carlton Waikiki project

March 20, 2013 By idx guys Leave a Comment

Developer must revise design of proposed Ritz-Carlton Waikiki project
Staff Pacific Business News  |   Mar 20, 2013, 7:16am HST

This rendering shows Pacrep LLC's proposed 2121 Kuhio project, which will be branded The Ritz-Carlton Residences Waikiki Beach. The Honolulu Department of Planning and Permitting gave conditional approval on Tuesday to the project but told the developer it must make significant design changes.

This rendering shows Pacrep LLC’s proposed 2121 Kuhio project, which will be branded The Ritz-Carlton Residences Waikiki Beach. The Honolulu Department of Planning and Permitting gave conditional approval on Tuesday to the project but told the developer it must make significant design changes.

California developer Pacrep LLC has been told to make significant design revisions to a proposed $275 million 350-foot hotel condominium in Waikiki that will be branded as The Ritz-Carlton Residences Waikiki Beach before proceeding with construction.

The Honolulu Star-Advertiser reports the Honolulu Department of Planning and Permitting gave conditional approval on Tuesday to the project, but said the developer must make changes to the 37-story tower known as 2121 Kuhio to reduce its “apparent mass” which has drawn protests from the community for its wall-like appearance. The newspaper reports the developer was ordered to consider adding such architectural features as graduated, stepped forms, and told to reduce the height of the entry along Kuhio Avenue and increase the commercial space on the ground floor.

The Honolulu City Council gave its approval to the project, which would exceed current height limits by 50 feet, in January.

Pacrep has already revised its plans for the project once before to reduce the width of the building. In December, the developer filed an environmental assessment with the state that proposed changing the original 34-story tower to a 350-foot, 37-story tower, which reduced the width by 48 feet.

Waikiki_$1,000,000_plus
Waikiki Condos for sale_$150,000_$200,000
Waikiki Condos for sale_$200,000_$250,000
Waikiki_Condos for sale $250,000_$300,000
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Waikiki_Condos for sale $450,000_$600,000
Waikiki_Condos for sale $600,000_$,1000,000
Waikiki_Condos for sale Zip Code 96815_and 96816


Filed Under: Featured Blog, Pacific Business News, Waikiki Tagged With: New Condos, new construction, Waikiki, Waikiki condos

Sales begin for affordable condo tower on former Honolulu Advertiser site

March 10, 2013 By idx guys Leave a Comment

Sales begin for affordable condo tower on former Honolulu Advertiser site

Staff Pacific Business News  |   Mar 8, 2013, 12:04pm HST

This rendering shows Downtown Capital LLC's 801 South St. project, which will be built on the site of the former Honolulu Advertiser building in Honolulu. Courtesy Downtown Capital LLC

This rendering shows Downtown Capital LLC’s 801 South St. project, which will be built on the site of the former Honolulu Advertiser building in Honolulu.
Courtesy Downtown Capital LLC

The sales process for a $200 million high-rise affordable condominium tower planned for the site of the former Honolulu Advertiser building start on Saturday, when prospective buyers can sign up for a lottery for more than half of the 635 units at 801 South St.

Prospective buyers will be able to pick up packets for the 322 studio, one- and two-bedroom units designated as owner-occupant units, which will be assigned in a lottery on March 23.

That is according to a statement from developer Marshall Hung of Downtown Capital LLC, an affiliate of Island Insurance sister company Tradewind Capital LLC, which bought the former Advertiser property from Gannett Co. (NYSE: GCI) last year for $23 million. The sales office for the project is located a block away at the corner of Keawe and Queen streets.

http://realestate.hawaiiamericana.com/i/6351/KAKAAKO_NEIGHBORHOOD

Three-quarters of the units in the 46-story building are designated as “work-force housing” for households earning up to 140 percent of the median income in Honolulu. The project was approved by the Hawaii Community Development Authority in December.

Prices start at $253,200 for a 384-square-foot studio apartment; $305,800 for a one-bedroom unit of between 495 square feet and 522 square feet; $405,800 for a 714-square-foot one-bedroom unit with lanai; $394,000 for a 776-square-foot, two-bedroom, one-and-a-half-bath unit with a lanai; and $422,900 for an 816-square-foot, two-bedroom, two-bath unit with a lanai, according to a full-page notice in Friday’s Honolulu Star-Advertiser. Marcus & Associates is handling sales for the project.

“This project addresses the critical shortage of housing that Hawaii’s residents can afford in Honolulu’s urban core,” Hung said in a statement. “We are excited about delivering quality housing in Kakaako in support of Gov. Abercrombie’s pledge to make Kakaako a ‘live, work and play’ community.”

The site is currently being used by the CBS television show “Hawaii Five-0” as a soundstage. Production on the show’s third season is scheduled to finish in May. The show is moving to the state’s Hawaii Film Studio at Diamond Head next month, state Film Commissioner Donne Dawson told PBN.

Construction on the project will begin this summer. Hawaiian Dredging Construction Co. is the general contractor, and Kazu Yato AIA & Associates Inc. is the project’s architect.

http://realestate.hawaiiamericana.com/i/6351/KAKAAKO_NEIGHBORHOOD

Filed Under: New Condos for sale, Oahu real estate, Pacific Business News, properties for sale Tagged With: condos for sale, Kakaako, new construction, Waikiki condos

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