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Honolulu condo project on YMCA site near Ala Moana Center to start construction in early 2016

August 27, 2015 By Mark G. Howard Leave a Comment

A rendering for the Aloha Kai condominium across from Honolulu's Ala Moana Center

A rendering for the Aloha Kai condominium across from Honolulu’s Ala Moana Center

The 117-unit, 37-story “Aloha Kai” condominium project planned for the site of the YMCA of Honolulu Central branch on Atkinson Drive across from Ala Moana Center is expected to start construction by early 2016, the developer of the project confirmed to PBN Tuesday.

California-based MB Property Acquisitions LLC has partnered with the Japanese firm Tama Home on the development.

Michael Blumenthal, president of MB Property Acquisitions, told PBN that the project, which will include a new 30,000-square-foot YMCA Central branch with no residential units, a swimming pool and a sophisticated aqua facility that will cater to seniors, will have five levels of parking, with units being built atop those levels of parking.

Aloha Kai encountered a delay after the developer asked for a zoning change that included increasing the its height limit to 350 feet from 150 feet.

“It has taken a while, but we are moving forward,” Blumenthal said, noting that the demolition of the YMCA Central branch should begin in about five months. “It took a little more than a year to get the zone change, but that enhanced the economics of the deal.”

He also pointed out that the focus of the entire project has been on dealing with the YMCA Central branch at first, which will be redeveloped into a three-story, 30,000-square-foot facility.

“The plans for the YMCA [are] 95 percent complete, in terms of the working drawings,” Blumenthal said. “We really focused on designing the YMCA before jumping into the condo tower.”

The conceptual drawings for the condo tower are nearly complete, with Architects Hawaii Ltd., Swinerton Builders and Locations LLC working on the project.

The project, which will encompass about 150,000-square-feet of net saleable square footage, will have four units per floor, with a boutique-like, very private type of feel, according to Blumenthal.

The pricing of the project is still being determined, although he said it is probably going to be around $1,400 per square foot, meaning that a one-bedroom unit of roughly 600 square feet unit would be priced around $840,000.

Aloha Kai also will have a rooftop pool and all units will include lanais that overlook the ocean. There will be no commercial units in the project.

Blumenthal said he was one of the few bidders of the YMCA site to have given the nonprofit organization a portion of the site to build a new branch.

A little more than three years ago, MB Property Acquisitions announced its purchase of about 1.5 acres of the YMCA’s 1.77-acre lot for an undisclosed amount. Blumenthal said he expects to close on the purchase in about three months.

“We have substantial approvals,” he said. “We worked hard to provide a nice facility for the Y.”

The condo part of the project is expected to be completed in about two years.

Duane Shimogawa
Reporter
Pacific Business News

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Filed Under: Blog, Featured Blog, Luxury real estate, luxury real estate Oahu, New Condo Construction, New Condos for sale Tagged With: Aloha Kai, MB Property Acquisitions, YMCA

YMCA of Honolulu to close branch near Ala Moana Center for redevelopment project in 2015

November 29, 2014 By Mark G. Howard Leave a Comment

The YMCA of Honolulu Central branch across from Ala Moana Center will temporarily close on Feb. 28 for a redevelopment project that will result in a smaller Y building next to a 128-unit condominium on its 1.8-acre property on Atkinson Drive, a spokeswoman confirmed to PBN on Monday.

It’s estimated that it will take about 20 months for construction with a planned reopening of the new YMCA in November or December 2016, Lisa Ontai, spokeswoman for the Honolulu-based nonprofit told PBN.

The proposed condo, called “Aloha Kai,” came under some criticism with concerns arising over obstructed view plains and traffic, but ultimately, those concerns were not enough for the City and County of Honolulu not to approve the zone change for the project.

The new YMCA will encompass 30,000 square feet with no residential units, a swimming pool and a sophisticated aqua facility that will cater particularly to seniors.

The YMCA of Honolulu’s flagship Nuuanu branch, as PBN first reported, also is looking at undergoing a $20 million makeover, including a $5 million parking structure above its surface parking lot, as part of a 10-year master plan, which began two years ago.

Ontai said it expects to conduct a feasibility study regarding this branch in the next three to four months to determine which phases of the master plan could be supported by a capital campaign.

On Monday, the YMCA said it is looking to either sell or lease its Atherton branch in Manoa, directly across from the University of Hawaii campus, which has origins that date back to 1908 when the building was developed to facilitate student conferences on the UH Manoa campus. In 1932, the Charles H. Atherton House was donated to the YMCA to be utilized as a resident facility for university students, its website said.

Duane Shimogawa Reporter – Pacific Business News

Filed Under: Featured Blog Tagged With: YMCA

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