The Honolulu Planning Commission has given their approval to allow the Aloha Kai Condominium project to be 350 feet tall, well above the current 150-foot height restriction that the land is currently zoned. The tower will be built on the site of the YMCA of Honolulu on Atkinson drive and will be developed by MB Property Acquisitions LLC. Plans call for the development of a 128-unit condominium tower with 283 parking spaces. In return for the use of the land, MB Property Acquisitions will completely remodel the existing YMCA facility. YMCA executive vice president and chief operating officer, Michael Doss, stated, "Without the project eventually the (YMCA) building would have to close. We simply don't have the resources needed to tear down and rebuild or the capacity to run a capital campaign. This development allows the YMCA to get a new building and remain in this neighborhood."
News of the approval did not sit well with some residents in the surrounding buildings, who are upset by the fact that the new taller tower would block their views and that there would be more traffic congestion on Atkinson drive. Curt Carson, a resident of the Sunset Towers which is located behind the YMCA stated that he had two appraisals done before and after the project was announced. The second appraisal, which took into consideration his lost view, was $180,000 lower than the first. Carson stated, "I'm going to lose my view. I'm going to lose my property value. I just don't want to be stuck in traffic, too."
The building will still require a zoning change by the Honolulu City Council, and would have to prepare a traffic management plan, plan sufficient pedestrian easement and conduct and archaeological survey to check for iwi kupuna, or Native Hawaiian burial remains.
Source: Honolulu Star Advertiser, 6-13-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
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