Developer PACREP LLC has announced that they will be building a second tower next to their Ritz-Carlton Waikiki Beach Residences in Waikiki. The first tower, located at 2121 Kuhio Avenue, is already in development, and will be a 38-story, 350 foot tall building with 309 units. The second tower, which may or may not be managed by Ritz-Carlton, will share the same eight story base as the first tower, and will be a 39-story, 350 foot tall building with 280 units. At a neighborhood meeting, Casey Federman, the Chief Executive Officer of PACREP, stated, "We understand that a lot of you have concerns and questions. The idea tonight is to hear from you and try to answer questions as best we can. We went through this exercise in Phase I. It's good to see you again despite circumstances that might warrant some tough questions."
The main arguments made by opponents of the second tower are that it would create too much density for that area of Waikiki, damage existing views, create additional traffic problems, and be too taxing on the current sewer and water infrastructure. Residents in the Four Paddles Condominium will already lose about half of their ocean views due to the first Ritz-Carlton Tower and will probably lose the remainder with the completion of the second tower. Mark Harpenau, a Four Paddles resident, stated to PACREP officials, "Too dense is what is going on here. You are maximizing your return on investment at the expense of the community."
To view PACREP's website, please go to: www.newlifeforkuhio.com
Source: Honolulu Star Advertiser, 1-10-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
