Just days after developer Downtown Capital LLC announced that all 410 units in its second tower, Building B, of the 801 South Street project had been sold, Circuit Court Judge Karl Sakamoto ruled that all work must stop due to the fact that two state agencies failed to follow state laws protecting historic places and burials. Sakamoto's verbal decision was in response to a lawsuit that was filed in March 2014 by the owners of the Royal Capitol Plaza, a neighboring building, whose views would be significantly impacted by the creation of Building B. Carl Varady, the attorney for the plaintiff, stated that he believes that Sakamoto will issue a written order that would invalidate the Hawaii Community Development Authority's permit for 801 South B. If this happens, the HCDA would be required to hold new public hearings and issue a new decision for the project to obtain approval.
Source: Honolulu Star Advertiser, 5-31-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
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