The Office of Hawaiian Affairs has requested that the state legislature show their support for Senate Bill 3122, which would allow the development of high-rise housing in Kakaako Makai, a 31 acre property on the ocean side of Ala Moana Boulevard. Under Senate Bill 3122, OHA would be allowed to create three residential towers between Kewalo Basin and Honolulu Harbor. Two of the properties would be a maximum of 400 feet tall and one of the properties would be limited to 200 feet tall.
Kakaako Makai was transferred to the Office of Hawaiian Affairs in 2012, to help settle a long-disputed ceded-land revenue claim. At that time, Kakaako Makai was valued at $200 million by the state of Hawaii, but OHA has since stated that the land, in its present commercial zoning, is not worth that much. In order to increase the value of land to $200 million, OHA has asked to build a couple of residential properties. The rental income generated by these properties would help to fund programs and services benefiting native Hawaiians. The Office of Hawaiian Affairs promises that the development of Kakaako Makai will be done in such a way that balances commerce and culture without inhibiting public access to the shoreline.
Source: Honolulu Star Advertiser, 4-23-2014, 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
