Honolulu
Forest City Hawaii’s Proposed West Oahu Rental Housing Project Clears Environmental Hurdle
Plans are moving forward for Forest City Hawaii’s 499-unit residential rental complex on West Oahu. According to the Pacific Business News, the Hawaii Housing Finance and Development Corp. (HHFDC) has determined that a supplemental environmental impact statement (EIS) would not be required for the proposed $140 million mixed-use apartment development known as Kapolei Lofts.
Kamehameha Schools to Start Construction on Mixed-Use SALT Project in Kakaako
Kamehameha Schools has announced it would begin construction on the SALT at Our Kakaako retail and restaurant project in downtown Honolulu later this month.
$350M International Market Place Redevelopment Begins in Waikiki; Castle & Cooke, Kamehameha Schools Develop Workforce Housing in Kakaako
Michigan-based developer Taubman Centers, Inc. and its partners, CoastWood Capital Group, LLC of San Francisco and landowner Queen Emma Land Company of Honolulu, have celebrated the groundbreaking of the new International Market Place in Waikiki.
Inland Buys Aston Waikiki Beach Hotel for $183M
Inland American Lodging Group made its first acquisition in Hawaii with the purchase of the 645-room Aston Waikiki Beach Hotel in Honolulu for $183 million.
California Developer Pacrep Plans Second Condo-Hotel Tower in Waikiki
Los Angeles-based Pacrep LLC is planning the construction of a second luxury condo-hotel tower in Waikiki. According to the Pacific Business News, the City and County of Honolulu will not require an environmental impact statement for the $159.5 million, 280-unit project at 2139 Kuhio Ave.
Stanford Carr’s Halekauwila Affordable Rental Complex in Kakaako Nears Completion
The Hawaii Community Development Authority announced that Stanford Carr’s affordable 204-unit Halekauwila Place apartment high-rise in Honolulu’s Kakaako neighborhood would be complete in March.
Gerding Edlen Tapped to Develop Kamehameha Schools’ Workforce Rentals in Kakaako
Kamehameha Schools has selected Oregon-based Gerding Edlen to develop the 209-unit workforce rental project, which will be part of the company’s previously announced $300 million Keauhou Lane mixed-use residential development in Kakaako.
New Hilton Grand Vacations Resort Opens in Honolulu’s Waikiki Beach Walk
On January 28, Hilton Grand Vacations (HGV) celebrated the grand opening of its newest resort, Hokulani Waikiki by Hilton Grand Vacations Club in Honolulu. Mayor Kirk Caldwell and other officials attended the reception hosted by Mark Wang, president of Global Sales and HGV.
Prospective Buyer Terminates $142M Deal to Acquire City-Owned Affordable Housing
The $142 million leasehold sale of 12 city-owned affordable rental complexes located in various parts of Oahu has been canceled. According to the Honolulu Star-Advertiser, the group of investors that agreed to purchase and manage the properties in the summer of 2012 will not be able to make a $35 million payment to the city by the March 31 deadline.
Rockbridge Capital Acquires Aqua Wave Waikiki Hotel for $48M
Ohio-based private equity firm Rockbridge Capital has purchased the Aqua Wave Waikiki hotel in Honolulu from Ramsfield Hospitality Finance’s CR Wave LLC. According to the Pacific Business News, the leasehold property at 2299 Kuhio Ave. sold for $48 million.