Castle & Cooke Homes Hawaii Inc and Kamehameha Schools are planning to develop two residential midrise buildings in Kakaako. The first building, which is being developed by Castle and Cooke, is tentatively being called 400 Keawe and will feature a total of 95 condominium units. The second building, developed by Kamehameha Schools, will be located at 440 Keawe and will be an 88-unit rental complex. The 2.8 acre project is bordered by One Waterfront Towers, Auahi Street, Pohukaina Street and Keawe Street.
The condominium building (400 Keawe) will feature one to three bedroom units priced in the $400,000s to the $700,000s. The rental building (400 Keawe) will feature units ranging from studios to three-bedrooms and will rent from between $1,100 to $1,700 per month. The rental building will be reserved for middle-income residents earning between $52,000 for a single person to $84,000 for a family of four.
At a public hearing, reactions to the proposed project were relatively positive. A few residents in the One Waterfront Tower expressed concerns that the top two floors of the Keawe Street project would have full views of One Waterfront's recreation deck and block the deck's makai views. Furthermore, it is claimed that temperatures on One Waterfront Tower's recreation deck could rise to 135 degrees during the hottest months due to the fact that tradewinds would be blocked by the two Keawe street mid-rise buildings. Owners of One Waterfront Tower noted that they have just spent $2.3 million renovating their recreation deck and this new project would severely constrict enjoyment of the deck.
Source: Honolulu Star Advertiser, 5-1-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
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