{"id":1004074434,"date":"2013-05-20T07:54:46","date_gmt":"2013-05-20T15:54:46","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=126820"},"modified":"2020-04-14T21:53:44","modified_gmt":"2020-04-15T05:53:44","slug":"nordic-pcl-to-build-500m-m-u-project-in-downtown-honolulu","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nordic-pcl-to-build-500m-m-u-project-in-downtown-honolulu\/","title":{"rendered":"Nordic PCL to Build $500M M-U Project in Downtown Honolulu"},"content":{"rendered":"

<\/p>\n

<\/p>\n

\"\"<\/a>By Adriana Pop, Associate Editor <\/span><\/em><\/p>\n

Nordic PCL Construction Inc. has been appointed general contractor for the $500 million 690 Pohukaina mixed-use project in Honolulu, the Pacific Business News<\/a><\/em> reports. Forest City Hawaii has also selected Benjamin Woo Architects L.L.C. as part of the development team.<\/p>\n

Last December, the Hawaii Community Development Authority (HCDA) unanimously approved Forest City Hawaii\u2019s proposal to develop 800 affordable and market-rate housing units on the state-owned parcel located at 690 Pohukaina St. in Kakaako.<\/p>\n

Pending further approvals, the public-private venture could include Hawaii\u2019s tallest building at 650 feet. Plans also call for a commercial and civic building, a parking structure, a business incubator and offices for the state\u2019s library system and Friends of the Library.<\/p>\n

Forest City and the HCDA are currently involved in an 18-month development process. Construction on the project is expected to begin in 2015 or 2016 and be complete by 2019.<\/p>\n

In regional news, Jones Lang LaSalle\u2019s hotels and hospitality group is marketing for sale the Ritz-Carlton Kapalua Resort on Maui.<\/p>\n

The beachfront luxury property spans 54 acres and consists of 297 hotel rooms and 107 condominium units (73 of which are unsold). The resort also benefits from 35,288 square feet of indoor meeting space, 173,000 square feet of outdoor meeting space, a 17,500-square-foot Ritz-Carlton Spa, a three-tiered pool, a tennis center and six world-class food and beverage outlets.<\/p>\n

\u201cThe Ritz-Carlton Kapalua Resort is a strategic and value-add acquisition opportunity that we expect will attract investor interest from around the world,\u201d said John Strauss, managing director of the hospitality group. \u201cA new ownership group has the ability to capitalize on the strength of the Maui lodging market and significant compression from Oahu to drive outsize rate and occupancy growth in the near to medium term.\u201d<\/p>\n

At about 727.2 square miles, Maui is the second largest of the Hawaiian Islands. For 18 consecutive years, it has been named \u201cBest Island in the World\u201d in the Conde Nast Traveler Reader\u2019s Poll.<\/p>\n

Photo credits: Forest City Hawaii <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Nordic PCL Construction Inc. has been appointed general contractor for the $500 million 690 Pohukaina mixed-use project in Honolulu, the Pacific Business News reports. Forest City Hawaii has also selected Benjamin Woo Architects LLC as part of the development team.<\/p>\n","protected":false},"author":260,"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-1004074434","post","type-post","status-publish","format-standard","hentry","category-honolulu","category-latest"],"acf":[],"yoast_head":"\nNordic PCL to Build $500M M-U 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\/nordic-pcl-to-build-500m-m-u-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=\"Nordic PCL to Build $500M M-U Project in Downtown Honolulu\" \/>\n<meta property=\"og:description\" content=\"Nordic PCL Construction Inc. has been appointed general contractor for the $500 million 690 Pohukaina mixed-use project in Honolulu, the Pacific Business News reports. 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