By Liviu Oltean, Associate Editor
The Hawaii Community Development Authority (HCDA) will file RFQs in January for the 690 Pohukaina project.
The project is comprised of two towers: The first one encompasses 300 affordable residential units, while the second tower includes 500 market price residential units. The second tower will be 650 feet high, making it the tallest building in Hawaii – 250 feet more than the First Hawaiian Center, the Pacific Business News reports.
The project is funded through a combination of public and private partnerships involving the Hawaii Housing Finance and Development Corp. of Land and Natural Resources and the Department of Commerce and Consumer Affairs. It will be developed as a mixed-use complex containing housing and commercial space.
“This development will provide housing choices and opportunities for a variety of people and families,” said Governor Abercrombie. “But the first thing 690 Pohukaina does is create jobs in construction and business sectors. This is a combination of growing our economy and the creation of a thriving community.” The HCDA estimated that the project will reinforce the state’s economy with $500 million over the next seven years. In addition, during the construction process, more than 500 construction related jobs will be generated, with an additional 1,000 indirect jobs.
The 690 Pohukaina will be developed in three phases:
• 1st Phase – affordable rental housing complex that will break ground in February 2011.
• 2nd Phase – affordable and market housing units with community spaces.
• 3rd Phase – a high tech business incubator and innovation space for broadband capability.
Projected construction completion date is in 2019. The project is also developed as a Transit Oriented Development, optimizing access to public transportation and incorporating amenities that will encourage the use of public transit.