Call : 808-791-2923
Hawaii Americana Realty Serving Hawaii's Most Beautiful Beaches and Homes, and Serving Them To You!

Units in Ritz-Carlton Waikiki project priced from ‘$500,000s to over $15M’

March 21, 2013 By idx guys Leave a Comment

Units in Ritz-Carlton Waikiki project priced from ‘$500,000s to over $15M’

Janis L. Magin, Managing Editor of Digital Content- Pacific Business News  |  Mar 20, 2013, 4:45pm HST

This updated rendering shows some of the design revisions developer Pacrep LLC has made to the 2121 Kuhio condominium hotel project, which is being marketed as The Ritz-Carlton Residences, Waikiki Beach. Courtesy Pacrep LLC

This updated rendering shows some of the design revisions developer Pacrep LLC has made to the 2121 Kuhio condominium hotel project, which is being marketed as The Ritz-Carlton Residences, Waikiki Beach.
Courtesy Pacrep LLC

Some units in a proposed 37-story Waikiki condominium hotel tower that will be branded under The Ritz-Carlton Residences flag will go on the market this spring for more than $15 million, one of the highest asking prices ever for a new condominium unit in Hawaii.

The website for The Ritz-Carlton Residences, Waikiki Beach, says prices for the units, which range from a 401-square-foot studio on one of the lower floors to a 1,790-square-foot three-bedroom, three-bath unit on one of the top floors to a top-floor penthouse, start “from the $500,000s to over $15 million.”

In comparison, the penthouse units at the ultra-luxury One Ala Moana condo being developed atop the parking garage next to the Nordstrom department store behind Ala Moana Center by a partnership that includes the Howard Hughes Corp. (NYSE: HHC) are being marketed for around $9 million.

That building has drawn interest from some Mainland billionaires, including Mark Zuckerberg, founder and CEO of Facebook Inc. (Nasdaq: FB).

The sales office for the Ritz-Carlton project will open in mid-April in the Luxury Row retail complex on Kalakaua Avenue adjacent to the project’s site, which is also home to luxury retailers Tiffany & Co., Chanel, Gucci, Yves Saint Laurent, Coach, Tod’s, Bottega Veneta and Hugo Boss.

California-based Pacrep LLC, which is developing the Ritz-Carlton project that’s also known as 2121 Kuhio, expects to start construction on the building later this year, with a completion targeted for late 2015 or early 2016, Jason Grosfeld, principal of Pacrep LLC, told PBN.

Pacrep recently secured approval for a Waikiki Special District permit, although the Honolulu Department of Planning and Permitting attached conditions to the approval, including design revisions.

The developer’s current design already incorporates many of the revisions requested by the city, including an articulation to the building’s facade, Grosfeld said. Grosfeld is also a principal in Irongate, which developed the Trump International Hotel & Tower Waikiki Beach Walk and the Watermark Waikiki.

“We’ve already been addressing and satisfying some of these comments,” he said.

Grosfeld said Pacrep will apply for building permits once the design is completed.

Grosfeld is confident there will be strong demand for the units.

“We’ve had thousands of people contact us to get more information about the project,” he said. “We have hundreds of people who want to buy right now.”
 

Oahu_Luxury_Condo_1M_2M

Oahu_Luxury_Condo_2M_3M

Oahu_Luxury_Condo_3M_4M

Oahu_Luxury_Condo_4M_plus

Filed Under: Featured Blog, Luxury Condos for sale, Luxury real estate, luxury real estate Oahu, New Condos for sale, Oahu condos for sale, Pacific Business News, Waikiki Tagged With: Honolulu luxury condos, luxury condos, luxury properties in Hawaii, Waikiki, Waikiki condos

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
Waikiki_Condos for sale $300,000_$350,000
Waikiki_Condos for sale $350,000_$450,000
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

Existing Users

Quick Search

Search Honolulu County Cities

Browse Oahu Real Estate by Price

Oahu Luxury Estates

  • Luxury Estates $10M plus
  • Luxury Estates $2M – $3M
  • Luxury Estates $3M – $4M
  • Luxury Estates $4M – $5M
  • Luxury Estates $5M - $6M
  • Luxury Estates $6M – $8M
  • Luxury Estates $8M – $10M

Kaka’ako High-Rise

Info

Ko Olina Beach Resort

Oahu Real Estate Listings

Oahu Luxury Condos

Waikiki By Price

© 2014 - Hawaii Americana Realty. All Rights Reserved. Hawaii Americana Realty fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. Subject to change without notice. While the information on this site is deemed to be accurate, Hawaii Americana Realty. does not guarantee its accuracy, and provides this information without warranties of any kind, either expressed or implied. Hawaiian Americana Realty, Inc. 134 Kapahulu Ave., CUB, Honolulu, HI 96815 * by appointment only * RB20383 / RB20384