{"id":1004053662,"date":"2012-01-20T14:25:41","date_gmt":"2012-01-20T22:25:41","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=31984"},"modified":"2022-12-01T01:25:55","modified_gmt":"2022-12-01T09:25:55","slug":"development-authority-approves-hi-rise-on-site-of-expired-wtc-franchise","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/development-authority-approves-hi-rise-on-site-of-expired-wtc-franchise\/","title":{"rendered":"Development Authority Approves Hi-Rise on Site of Expired WTC Franchise"},"content":{"rendered":"

By Liviu Oltean, Associate Editor<\/p>\n

The Hawaii Community Development Authority showed support for the long- delayed development of a 40-story, mixed-use project at the corner of Kapiolani Boulevard and Ward Avenue.<\/p>\n

The HCDA director of planning and development, Deepak Neupane,\u00a0said that the project\u2019s developer, San Diego-based OliverMcMillan, has already filed an application with the Hawaii Community Development Authority. Public hearings are scheduled for February, while the groundbreaking of the high rise has been set tentatively for early 2013.<\/p>\n

The\u00a0development\u00a0includes\u00a0retail space, and showrooms and a service center for Joe Nicolai\u2019s exotic car dealership\u00a0for Ferrari, Lamborghini, Maserati and Lotus on the first five floors of the residential high-rise.<\/p>\n

The land proposed for the development of the project belongs to Nicolai, who purchased the 103,000-square-foot tract from the Neal Blaisdell Center for $8.4 million, the Pacific Business News<\/em> reports.<\/p>\n

Nicolai\u2019s initial plan was to build a luxury car galleria, but, in 2002, he obtained franchise rights over the construction of a World Trade Center. Nicolai\u2019s franchise license for the development of a WTC had expired in March 2005, and other attempts to reinstate the trade center project have failed.<\/p>\n

\"\"<\/a>In other news, the Pacific Business News<\/em> reports that MW Group has installed photovoltaic power systems atop seven properties on Oahu, including the Hawaii Self Storage buildings and Aiea Town Square. The photovoltaic power systems will save the company about $11 million over a period of 20 years. The systems were designed and installed by RevoluSun by the end of 2011, in order to be eligible for tax incentives.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Liviu Oltean, Associate Editor
\nThe Hawaii Community Development Authority showed support for the long- delayed development of a 40-story, mixed-use project at the corner of Kapiolani Boulevard and Ward Avenue.
\nThe HCDA director of planning and development, Deepak Neupane,\u00a0said that the […]<\/p>\n","protected":false},"author":1158,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1588,21742],"tags":[],"class_list":["post-1004053662","post","type-post","status-publish","format-standard","hentry","category-honolulu","category-latest"],"acf":[],"yoast_head":"\nDevelopment Authority Approves Hi-Rise on Site of Expired WTC Franchise - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/development-authority-approves-hi-rise-on-site-of-expired-wtc-franchise\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Development Authority Approves Hi-Rise on Site of Expired WTC Franchise\" \/>\n<meta property=\"og:description\" content=\"By Liviu Oltean, Associate Editor The Hawaii Community Development Authority showed support for the long- delayed development of a 40-story, mixed-use project at the corner of Kapiolani Boulevard and Ward Avenue. 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