General Growth Properties has announced that they would like to work once again with local developers, the MacNaughton Group and the Kobayashi Group, to build another ultra-luxury condominium at Ala Moana Center. According to General Growth, they would like to build approximately 200 units in a series of mid-rise buildings along Ala Moana Boulevard between Piikoi Street and the Neiman Marcus store. The buildings would be be 8 stories tall and would sit on the second level of the parking structure, well within the area's high limit. As a result, no variance would be needed by the city to build this condominium complex.
According to tentative plans, lap pools, private gardens, indoor/outdoor kitchens and living spaces up to 6,000 sq ft in size would be just some of the features being offered in this project. The developers are describing this as a "discreet sanctuary" that will combine single-family home, resort and condo living in urban Honolulu. Ian MacNaughton, a principal with the development team, stated, "This distinct concept will make a significant statement in the landscape of Hawaii's residential development business. The community will establish a new global standard for luxury residential living without compromising any of Hawaii's understated authenticity."
General Growth had previously teamed up with the MacNaughton Group and the Kobayashi Group to build ONE Ala Moana, a ultra luxury condominium tower that will be completed in late 2014 above the Nordstrom parking lot. All 206 units at ONE Ala Moana have already been sold, with prices ranging from $500,000 for a 1 bedroom to $10 million for the Penthouse.
Source: Honolulu Star Advertiser, 12-15-2013, 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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