Developer looking to build affordable housing project in Downtown Honolulu

-

A California-based developer that has three residential projects in the works on Oahu, including two in Honolulu, may be looking to develop another such project in Downtown Honolulu.
Franco Mola's Coastal Rim Properties, which is the developer behind the planned 803 Waimanu Street and 929 Pumehana Street projects in Honolulu, as well as another project in Kapolei, filed a sewer connection application Tuesday to check sewer capacity on a Downtown Honolulu surface parking lot that went on the market earlier this year.
The 12,842-square-foot lot at the corner of Alakea and Beretania streets, owned by Chicago's Next Realty, is currently being used as a nearly 40-stall parking lot.
The possible development scenarios for the parcel include building a residential, hotel, office, retail or parking garage.
Coastal Rim's permit includes a job description for "MCXCII Tower" for applicant "Alakea Affordable Housing," a company formed by Coastal Rim.
The BMX-4-zoned lot currently has a total assessed value of $3.9 million. In 2014, Next Realty purchased the lot for $5.75 million, which amounted to $447.75 per square foot.

Comments

  1. Mirka InvestFebruary 27, 2022 at 2:39 AM

    A traditional affordable housing developer, whose models tend to be vertical in nature to emphasize top line, we welcome more participation in our projects.
    hawaii affordable housing developer

    ReplyDelete

Post a Comment

Popular posts from this blog

Architecture firm starts process to build new office at Bank of Hawaii building

-
Image
G70, one of the largest architecture firms in Hawaii, has officially started the process of building out its new office spaces in Downtown Honolulu, according to public documents filed Tuesday. The Honolulu-based firm has filed two building permits totaling about $1.2 million for the build-out of its new digs at the Bank of Hawaii building at the Financial Plaza of the Pacific. G70, formerly Group 70 International, is expected to move from its current space at the McCandless Building on Bethel Street where it has been for decades towards the end of this year. The architecture firm's move follows the migration of another one of Hawaii's largest firms — AHL, formerly Architects Hawaii Ltd., which moved to the Pacific Guardian Center in Downtown Honolulu, including the penthouse space at the complex's Makai Tower.
Read more

New Italian, BBQ restaurants opening at Hawaii Kai Shopping Center

-
Image
  Hawaii Kai Shopping Center, which is anchored by a newly-renovated and expanded Safeway store, is adding an Italian restaurant in the vacant former Pizza Hut space as well as a well-known barbecue restaurant and bar, Shimogawa Scoops has learned. Tex 808 BBQ & Brews has confirmed that it is moving from the neighboring Hawaii Kai Towne Center to the marina-facing side of the Hawaii Kai Shopping Center adjacent to Liko’s Tap & Table. Meantime, a few doors down, a new Italian restaurant called “Repetti’s Provisions” is opening in the former 1,230-square-foot Pizza Hut space that’s next to Island Brew. The new eatery filed a permit for this space this week. Repetti’s is spearheaded by the same owners as Maui’s Serpico’s Pizzeria Restaurant, where they serve authentic New Jersey-style pizza, amongst other Italian cuisine. Hawaii Kai Shopping Center, which recently re-paved its parking lot, adds solid tenants to its tenant mix, which already includes the likes of Longs Dr
Read more

Exclusive: 'Survivor' host Jeff Probst buys posh Hualalai Resort estate in Hawaii

-
Image
Jeff Probst, the Emmy Award-winning host of the reality television series “Survivor,” has purchased an estate within the Hualalai Resort on the Big Island of Hawaii’s west coast for $4.85 million, Shimogawa Scoops has learned. Probst and his wife, Lisa Russell, closed on their big purchase on November 1, which includes 19,864 square feet of land and a four-bedroom, 5.5-bathroom home with an office within Kulanakauhale, the newest residential community in the Hualalai master-planned resort community. The 3,770-square-foot home was built by Aina Ola and furnished by award-winning designer, Gina Willman. It has gourmet kitchens with granite counter tops, custom African mahogany cabinetry, travertine flooring and Madeira concrete shake roofs. Hualalai Realty represented both sides of the transaction. Member amenities for this property include the Keolu Clubhouse and Hualalai Canoe Club, according to Hualalai Realty. The luxury resort community includes the Four Seasons-bra
Read more