The Howard Hughes Corporation has announced that they will be building three new condominium towers in Kakaako, a total of 900 units, at the same time. According to the company’s master plan, this will be part of the first phase of a total 22 towers that we be built over the next 15 years in Kakaako. The Howard Hughes Corp. is planning on spending a total of $7.5 billion to build a total of up to 22 towers with up to 4,300 residential units on the 60-acre parcel. The company also plans to double the amount of retail space in the neighborhood and add additional restaurants and entertainment options. Senior vice president in Hawaii for the Howard Hughes Corp., David Striph, stated, “The pent-up demand, we think, is great.”
Tower 1 will be located on Ward Avenue between Halekauwila and Ilaniwai streets. This building will be moderately priced and have approximately 415 units. Tower 2 will be located directly across on the ocean side of the Ward theater complex. This building would have unobstructed views of Ala Moana Beach Park and Kewalo Basin and will have have approximately 200 units. Tower 2 will be the most luxurious of these three towers. Finally, Tower 3 will be built where the Pier 1 Imports store is currently located. This tower will have about 300 units and will be priced somewhere in between Tower 1 and Tower 2.
Provided that the Hawaii Community Development Authority, the state agency overseeing the development of Kakaako, gives the necessary approvals, the there new towers will break ground in 2014 and be completed approximately 2 years later in 2016.
Source: Honolulu Star Advertiser, 5-22-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
