{"id":1004055879,"date":"2012-12-16T21:49:15","date_gmt":"2012-12-17T05:49:15","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=87910"},"modified":"2022-12-08T17:34:17","modified_gmt":"2022-12-09T01:34:17","slug":"state-agency-green-lights-200m-condo-project-in-downtown-honolulu","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/state-agency-green-lights-200m-condo-project-in-downtown-honolulu\/","title":{"rendered":"State Agency Green-Lights $200M Condo Project in Downtown Honolulu"},"content":{"rendered":"<p><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/12\/Former-Honolulu-Advertiser-building.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-87911\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/12\/Former-Honolulu-Advertiser-building.jpg\" alt=\"\" width=\"300\" height=\"218\" \/><\/a>By<em> Adriana Pop, Associate Editor <\/em><\/p>\n<p>The Hawaii Community Development Authority has unanimously approved the construction of a $200 million condominium skyscraper on the site of the former <em>Honolulu Advertiser<\/em> building.<\/p>\n<p>The 46-story tower proposed at 801 South St. will be the first high-rise condo project in Kakaako in which all of its 635 units are designated &#8220;workforce housing.&#8221; Construction and sales are expected to begin by mid-2013. Upon completion in 2015, the project will offer a mix of studio, one- and two-bedroom units priced between $250,000 and $550,000.<\/p>\n<p>According to the <em>Pacific Business News<\/em>, Honolulu-based Downtown Capital L.L.C. will develop the all-affordable condo high-rise. The team working on the project also includes general contractor Hawaiian Dredging Construction Co., architect Kazu Yato AIA &amp; Associates Inc. and the real estate brokerage firm Marcus &amp; Associates Inc.<\/p>\n<p>\u201cThe project is designed to meet the critical shortage of affordable housing in the urban core of Honolulu,\u201d said Downtown Capital head Marshall Hung. \u201cWith our design and construction team sharing this affordable housing goal, this community need can be fulfilled.\u201d<\/p>\n<p>According to Colbert Matsumoto, a principal with South Street Towers, which is a member of Downtown Capital L.L.C., the project is feasible because of rules established in 2011 by the Abercrombie Administration to facilitate the construction of workforce housing in Kakaako.<\/p>\n<p>&#8220;Our project is fully aligned with the state&#8217;s vision to revitalize Kakaako by making it more accessible to middle-income buyers who previously lacked enough affordable housing inventory in that district,&#8221; Matsumoto said. &#8220;People who work in the area at hospitals, car dealerships, government entities and retail businesses will now be able to afford to buy a home within walking distance to their workplace.&#8221;<\/p>\n<p>If demand is strong, Downtown Capital intends to develop another high-rise of 400 affordable-housing units on the property adjacent to the site of the current project.<\/p>\n<p>In August, the company purchased the former <em>Honolulu Advertiser<\/em> building from Gannett Co. for $23 million. For the past two years, CBS Productions has been using the facility as a soundstage for the \u201cHawaii Five-0\u201d television series. The network has an agreement to use the space until it wraps filming the third season next spring.<\/p>\n<p><em>Photo credits: Jamm Aquino via Star-Advertiser <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Hawaii Community Development Authority has unanimously approved the construction of a $200 million condominium skyscraper on the site of the former Honolulu Advertiser building. The 46-story tower proposed at 801 South St. will be the first high-rise condo project in Kakaako in which all of its 635 units are designated &#8220;workforce housing.&#8221; Construction and sales are expected to begin by mid-2013. Upon completion in 2015, the project will offer a mix of studio, one- and two-bedroom units priced between $250,000 and $550,000. According to the Pacific Business News, Honolulu-based Downtown Capital L.L.C. will develop the all-affordable condo high-rise. The team working on the project also includes general contractor Hawaiian Dredging Construction Co., architect Kazu Yato AIA &amp; Associates Inc. and the real estate brokerage firm Marcus &amp; Associates Inc.<\/p>\n","protected":false},"author":260,"featured_media":1004506595,"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":[1815],"class_list":["post-1004055879","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-honolulu","category-latest","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>State Agency Green-Lights $200M Condo Project in Downtown Honolulu - 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\/state-agency-green-lights-200m-condo-project-in-downtown-honolulu\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"State Agency Green-Lights $200M Condo Project in Downtown Honolulu\" \/>\n<meta property=\"og:description\" content=\"The Hawaii Community Development Authority has unanimously approved the construction of a $200 million condominium skyscraper on the site of the former Honolulu Advertiser building. The 46-story tower proposed at 801 South St. will be the first high-rise condo project in Kakaako in which all of its 635 units are designated &quot;workforce housing.&quot; Construction and sales are expected to begin by mid-2013. Upon completion in 2015, the project will offer a mix of studio, one- and two-bedroom units priced between $250,000 and $550,000. According to the Pacific Business News, Honolulu-based Downtown Capital L.L.C. will develop the all-affordable condo high-rise. The team working on the project also includes general contractor Hawaiian Dredging Construction Co., architect Kazu Yato AIA &amp; Associates Inc. and the real estate brokerage firm Marcus &amp; Associates Inc.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/state-agency-green-lights-200m-condo-project-in-downtown-honolulu\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-12-17T05:49:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T01:34:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Former-Honolulu-Advertiser-building.jpg?w=1024\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/state-agency-green-lights-200m-condo-project-in-downtown-honolulu\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/state-agency-green-lights-200m-condo-project-in-downtown-honolulu\\\/\"},\"author\":{\"name\":\"Adriana Pop\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/c6fbe4a6cd09e6097b39e787ae96d7ad\"},\"headline\":\"State Agency Green-Lights $200M Condo Project in Downtown Honolulu\",\"datePublished\":\"2012-12-17T05:49:15+00:00\",\"dateModified\":\"2022-12-09T01:34:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/state-agency-green-lights-200m-condo-project-in-downtown-honolulu\\\/\"},\"wordCount\":372,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/state-agency-green-lights-200m-condo-project-in-downtown-honolulu\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/Former-Honolulu-Advertiser-building.jpg\",\"keywords\":[\"National\"],\"articleSection\":[\"Honolulu\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/state-agency-green-lights-200m-condo-project-in-downtown-honolulu\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/state-agency-green-lights-200m-condo-project-in-downtown-honolulu\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/state-agency-green-lights-200m-condo-project-in-downtown-honolulu\\\/\",\"name\":\"State Agency Green-Lights $200M Condo Project in Downtown Honolulu - 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She joined CPE and MHN in 2012, with an academic background in economics, English and Italian. She currently curates the CPE Sneak Peek newsletter, highlighting noteworthy stories and emerging topics for readers. 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She joined CPE and MHN in 2012, with an academic background in economics, English and Italian. She currently curates the CPE Sneak Peek newsletter, highlighting noteworthy stories and emerging topics for readers. 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