803 Waimanu Gets Approval from HCDA

The Hawaii Community Development Authority has given developer Franco Mola approval to build a condominium at 803 Waimanu Street in Kakaako.  Under the final proposal, the building will be a total of seven stories high and will have a total of 153 units.  This significantly different from the first proposal made in May 2013 of a 27-story tower with 192 units.  Mola stated, "This has been a long, arduous project for us. It's not what we wanted, but we can live with the result."

Residents and owners of the adjacent Imperial Plaza condominium have been very concerned about the development of 803 Waimanu.  Despite the concessions made by Mola to reduce the height of the building and to preserve most of the view channels, the close proximity of the new building has raised concerns over traffic, sewer capacity, and general city infrastructure. Mola added, "I think we designed a building that one, meets the rules, and two, is a good neighbor."  Sales of the building should begin in the spring of 2014.  The building will be classified as affordable, which mean geared towards people earning no more than 120 percent of Honolulu's median income.  This equates to about $82,320 for a single person or $94,080 for a couple.

Source: Honolulu Star Advertiser, 1-9-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com

803 Waimanu Street Project Facing Permit Problems

Developer Franco Mola of the MJF Development Corp received some bad news regarding obtaining the necessary permits for his new moderate-priced condominium tower at 803 Waimanu Street in Kakaako.  Mola had made several requests for variances to the Hawaii Community Development Authority including increasing the height restriction from 65 feet to 250 feet, allowing 803 Waimanu to be built only 90 feet away from Imperial Plaza condominium's main tower and 39 feet away from Imperial Plaza's mid-rise tower.  Under current laws, the minimum gaps between buildings is 300 feet in the mauka-makai direction and 80 feet in the Ewa-Diamond Head direction.  The Hawaii Community Development Authority, which is responsible for regulating development in the Kakaako neighborhood, listened to testimonials from both supporters of Mola and those who opposed the variances and recommended that the board deny the building permit for 803 Waimanu due to substantial adverse effects on surrounding land users and the neighborhood character.

The Hawaii Community Development Authority has not officially voted to approve or deny the permit, as they are required to allow MJF Development Corp and opportunity to respond in writing to their recommendation.  The actual vote is scheduled for August 7, 2013, but as of this writing the board voted 6-0 against the project as it stands right now.  Imperial Plaza resident Bernard Nunies, testified against the variances requested and stated that the exemptions were an extreme" departure from HCDA's Mauka Area Rules governing building heights and tower spacing.  Nunies stated, "We didn't make the Mauka Area Rules.  All we are asking is you enforce the rules that you established."

Franco Mola has stated that he will not give up his plan to create a condominium tower at 803 Waimanu Street.

Source: Honolulu Star Advertiser, 7-4-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com