Kamehameha Schools is proposing taking a block of old buildings bordered by Ala Moana Boulevard, Coral Street, Keawe Street and Auahi Street and turning it into a hip retail complex called SALT. The trust has presented their plan to the Hawaii Community Development Authority, a state organization responsible for the overall redevelopment of the Kakaako neighborhood, and is now waiting for the necessary permits to get started. Under the Kamehameha School's proposal, most of the existing buildings will undergo a complete renovation and a new 267-stall parking garage will be added in the back. The school is asking for a variance that will allow the parking garage to go up to six stories, or 65 feet, instead of the area's 45-foot high limitation. This would allow SALT to have a narrower parking structure and provide more space for retail and restaurant tenants.
Kamehameha Schools plans to redevelop a total of 29 acres of land in the Kakaako neighborhood and hopes that SALT will be one of the major hangout spots for neighborhood residents. The trust said in a statement, "We believe the new SALT at Our Kaka'ako will preserve both the local spirit and working-class grit of the area's history." The Hawaii Community Development Authority will meet on August 7 to vote on whether or not to give approval on the building permits for the SALT project.
Source: Honolulu Star Advertiser, 7-5-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
Global Executive Realty, LLC
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