Honolulu Mayor Kirk Caldwell is pushing for the Neal S. Blaisdell Center to be redeveloped and is hoping that a panel of consultants will be able to come up with feasible ways to do so. The Urban Land Institute and the Rose Center will be working with the city to come up with a preliminary strategy for a redevelopment plan by the end of this year. Caldwell commented, "They'll take a fresh look at a place we all know and treasure, and based on state-of-the-art review of what cities around the world have been able to accomplish, they will give us some ideas of what might work here in Honolulu. We have all grown up going to events and concerts there for the last 50 years, and now it's time to make sure it's as vital a place for our children's children through the next century."
Source: Honolulu Star Advertiser, 3-3-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Showing posts with label Neal Blaisdell Center. Show all posts
Showing posts with label Neal Blaisdell Center. Show all posts
Monday, March 3, 2014
Sunday, January 12, 2014
Neal S. Blaisdell Center Replacement Discussions Begin
Local politicians and officials have begun discussions on how to go about replacing the historic Neal S. Blaisdell Center, which has just celebrated its 50th anniversary this past year. The arena, concert hall and exhibition hall are all suffering from deferred maintenance, and worst of all, the original size and shape made it very challenging for more modern events to be hosted there. Experts feel that the current arena, which can only host 7,000 people for concerts, is much too small, and a 12,000 to 14,000 seat venue would be much more attractive for performers and their agencies. Deputy director Tracy Kubota of the Department of Enterprise Services, which oversees the facility, stated, "It's an aged facility. It's a 50-year-old structure. How much more can we get out of it? We can make do, but we just don't know when something large enough will happen to put us offline."
Honolulu Mayor Kirk Caldwell has stated that that he would like to set aside city funds to create a master plan as to what to do with the Blaisdell Center site. The discussion is still in its earliest stages, but it appears clear that something must be done soon.
Honolulu Mayor Kirk Caldwell has stated that that he would like to set aside city funds to create a master plan as to what to do with the Blaisdell Center site. The discussion is still in its earliest stages, but it appears clear that something must be done soon.
Source: Honolulu Star Advertiser, 1-12-2014, 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
Wednesday, June 19, 2013
Symphony Honolulu Condominium - Overview and Opinion
The following is an overview and opinion from Jeff Uyemura-Reyes, licensed REALTOR® in the state of Hawaii. Jeff Uyemura-Reyes is the Broker-in-Charge and CEO of Global Executive Realty, LLC, a residential real estate firm in Honolulu.
The Symphony Honolulu is a new condominium project (888 Kapiolani Boulevard) that will be built on the north-west corner of Ward Avenue and Kapiolani Boulevard in Kakaako, directly across from the Neal Blaisdell Event Center. The building features 1 bedroom, 2 bedroom and 3 bedroom units. For the latest availability and price, click
The property is being marketed as a luxury condominium with fantastic views in all directions. While this is true, it should be noted that the Howard Hughes corporation is planning to build a new moderate-income condominium at 404 Ward Avenue, which would be approximately three or four blocks closer to the ocean, directly in front of the Symphony Honolulu. The 404 Ward building will not block all of the Symphony's ocean views, but it would take away a section of it. There is also discussion of the possibility of building a 700 foot tall tower over the Neal Blaisdell Event Center. Please note that this is still only in the earliest stages of discussion and plans may change.
One item that potential buyers should be aware of, is that the Symphony Honolulu will be releasing 100 units later this summer or fall as "moderate-income" housing. These units will be sold on a lottery basis to people who make less than 140% of the median income for the Honolulu neighborhood. The buyers for the "moderate income" housing must not have had any primary interest in real property over the last three years and must commit to living in their Symphony Honolulu unit for five years after competition. The "moderate income" units will cost less than their counterparts, but will also have not as nice fixtures in their units.
The sales team at the Symphony Honolulu were quick to point out that "moderate income" is not the same as "affordable housing". For a single person, 140% median income is approximately $85,000 per year. For a family of four, the maximum median income is approximately $115,000 per year.
An interested Buyer would have to put down 5% of the purchase price with their initial offer. They would then have 30 days to review all of developer's public report. Upon acceptance of the public report, the Buyer would have to put down an additional 5% (10% total). This money becomes firm and binding. The Buyer would have to place a final 5% down (15% total) on November 1, 2013. The balance of the down payment can be made when the project is completed in the beginning of 2016.
My personal opinion on the building is that it is in an excellent location and priced fairly given today's improving real estate market conditions. A potential Buyer should be made aware of all the other condominiums being built in the Kakaako neighborhood and understand how these buildings may affect your view from the Symphony Honolulu. Finally, a Buyer needs to feel comfortable with the fact that this building will have both luxury condominium units and "moderate income" units in the same tower.
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
The Symphony Honolulu is a new condominium project (888 Kapiolani Boulevard) that will be built on the north-west corner of Ward Avenue and Kapiolani Boulevard in Kakaako, directly across from the Neal Blaisdell Event Center. The building features 1 bedroom, 2 bedroom and 3 bedroom units. For the latest availability and price, click
The property is being marketed as a luxury condominium with fantastic views in all directions. While this is true, it should be noted that the Howard Hughes corporation is planning to build a new moderate-income condominium at 404 Ward Avenue, which would be approximately three or four blocks closer to the ocean, directly in front of the Symphony Honolulu. The 404 Ward building will not block all of the Symphony's ocean views, but it would take away a section of it. There is also discussion of the possibility of building a 700 foot tall tower over the Neal Blaisdell Event Center. Please note that this is still only in the earliest stages of discussion and plans may change.
One item that potential buyers should be aware of, is that the Symphony Honolulu will be releasing 100 units later this summer or fall as "moderate-income" housing. These units will be sold on a lottery basis to people who make less than 140% of the median income for the Honolulu neighborhood. The buyers for the "moderate income" housing must not have had any primary interest in real property over the last three years and must commit to living in their Symphony Honolulu unit for five years after competition. The "moderate income" units will cost less than their counterparts, but will also have not as nice fixtures in their units.
The sales team at the Symphony Honolulu were quick to point out that "moderate income" is not the same as "affordable housing". For a single person, 140% median income is approximately $85,000 per year. For a family of four, the maximum median income is approximately $115,000 per year.
An interested Buyer would have to put down 5% of the purchase price with their initial offer. They would then have 30 days to review all of developer's public report. Upon acceptance of the public report, the Buyer would have to put down an additional 5% (10% total). This money becomes firm and binding. The Buyer would have to place a final 5% down (15% total) on November 1, 2013. The balance of the down payment can be made when the project is completed in the beginning of 2016.
My personal opinion on the building is that it is in an excellent location and priced fairly given today's improving real estate market conditions. A potential Buyer should be made aware of all the other condominiums being built in the Kakaako neighborhood and understand how these buildings may affect your view from the Symphony Honolulu. Finally, a Buyer needs to feel comfortable with the fact that this building will have both luxury condominium units and "moderate income" units in the same tower.
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Thursday, May 23, 2013
700 Foot Residential Tower Could Be Built at Blaisdell Center
The Hawaii Community Development Authority, the state agency responsible for regulating the development of Kakaako, is suggesting that that city allow a developer to build a 700-foot residential tower where the Neal S. Blaisdell Center currently exists. In exchange for allowing a developer to build a residential tower, the developer would provide the city with a new preforming arts facility, public concert hall, and events center. The Neal S. Blaisdell Center was originally built in 1964 and is beginning to show its age despite its last major renovation and expansion in 1994. Executive director for the HCDA, Anthony Ching, stated, “”This is a perfect opportunity, should the city take it.”
For additional information on what is happening in Kakaako, please go to: dbedt.hawaii.gov/hcda
Source: Honolulu Star Advertiser, 5-23-2013, 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
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Subscribe to:
Posts (Atom)