Honolulu contractor to develop retail and residential building on vacant parcel

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A Honolulu general contractor is developing a new mixed-use building on a vacant parcel of land that he purchased earlier this year. 
Wai Lun Chan and his wife, Catherine Emiko Chan, purchased the 7,589-square-foot parcel of land at 2114 S. King St. in Honolulu for $1.27 million in February from 2114 S King Corp. The purchase resulted in the couple paying about $168 per square foot for the land. The total assessed value of the land is $1.9 million. 
Chan recently filed building permits with Honolulu regulators to build the "James Chan Building" that will include ground floor retail space and storage and a second floor with residential units.
The parcel of land, which is one of the only undeveloped parcels in the McCully area, is located next to McCully Bicycle and across the street from a McDonald's restaurant. 
Public records show that Chan has ties to Landmark Pacific Builders and JC Building Group.

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