News

Archive for November, 2011

A&B unveils plans for condo in Kaka‘ako

November 30th, 2011

A new upscale condominium tower is slated to sprout between the Hawaiki and Ko’olani high-rises in Kaka‘ako under a plan being advanced by local development firm Alexander & Baldwin Inc. A&B, which bought the site for $16 million last year and said in May it intended to begin sales by the end of the year, unveiled a rendering of the 43-story building Tuesday. The tower, named Waihonua, is designed to have 345 units.
A&B said prices will range from $400,000 for one-bedroom units with 645 square feet of living space to $720,000 for three-bedroom units with 1,225 square feet of living space. There also will be seven penthouses, for which A&B did not disclose prices. The developer said Waihonua should benefit from an expected upward trend in demand for primary housing in urban Honolulu over the next year or so. Sales reservations are expected to start by the end of the year. Construction is anticipated to begin by the end of next year, followed two years later by completion.

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A&B re-enters condo business as market swings upward

November 30th, 2011

Eight years ago, Alexander & Baldwin was the first developer in Hawai‘i to get started on a high-rise condominium project just in time to take advantage of an upswing in the residential real estate market. The Hokua project, which A&B developed with The macnaughton Group and the Kobayashi Group, quickly sold out and ended up being the first of nearly a dozen condo towers to sprout up around Honolulu during the last economic boom. Now A&B is announcing plans to develop another condo tower nearby in Kaka‘ako, just as the local economy is starting to recover from a recession and prolonged downturn. Is this a signal that good times are just around the corner for Honolulu real estate market? Maybe. We did feel that coming out of this recent economic downturn that we’re going to be the first one out of the gate in this next cycle, which we feel is going to be a good cycle for residential real estate on Oahu and in particular for high-rise condos, A&B Land Group President Chris Benjamin said. The 43-story Waihonua at Kewalo tower is planned for a 1.73-acre lot sandwiched between the Hawaiki and Koolani towers that A&B purchased last year. The building will have 345 one-, two- and three-bedroom units that will be priced starting at $400,000, $565,000 and $720,000. There will also be seven penthouse units. The architects are Design Partners Inc. Of Honolulu and Pappageorge Haymes of Chicago, with interior design by Honolulu-based Philpotts & Associates. It being referred to as an upscale project because of the finishes in the units, but not as upscale as the luxury Hokua, whose units are more spacious and have better, unobstructed views of the Pacific Ocean. Benjamin said the project should appeal to a broad market, from first-time buyers to people looking to downsize from single-family homes.

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New Kaka‘ako Condo Announced, Unveiled

November 30th, 2011

Kewalo Development, a subsidiary of Alexander and Baldwin Properties, unveiled a new residential condominium project Wednesday, Waihonua at Kewalo. The planned 43-story tower, situated on Waimanu Street between Ala Moana Shopping Center and the Ward Centers, will be the final high-rise condominium in Honolulu premiere residential high-rise neighborhood. The proximity to shopping, dining, recreation, transportation, and a complete array of services makes Waihonua an excellent choice for urban living. Since acquiring the property in mid-2010, Kewalo Development has worked with Hawai‘i-based architects Design Partners, Inc., and its architectural consultant, Pappageorge Haymes of Chicago, to create a design for the tower. Amenities at Waihonua at Kewalo will include a fitness center, recreation deck including pool, spa and cabanas with barbeques, and a private movie theatre. “Waihonua at Kewalo will offer a sophisticated urban lifestyle to a broad spectrum of buyers in today market place,” said A&B Land Group President Christopher J. Benjamin. “The location, great amenities and interior design features will make this a tremendous opportunity for buyers.” Waihonua at Kewalo will consist of 345 one to three bedroom residences, and will offer seven penthouse residences on the 43rd floor. The planned opening of the sales gallery in December will allow interested buyers to purchase a unit in Waihonua. Fee-simple prices will begin at $400,000 for one bedroom/one bath, $565,000 for two bedroom/two bath, and $720,000 for three bedroom/two bath residences.

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A&B Plans New High-Rise Condo Near Ala Moana

November 30th, 2011

A&B Properties, Hawai‘i’s fourth largest private landowner, has unveiled a new residential condominium project, Waihonua at Kewalo. The planned 43-story tower, located between the Ala Moana Shopping Center and the Ward Centers, will be the final high-rise condo in Honolulu’s premiere residential high-rise neighborhood. Kewalo Development LLC, a subsidiary of A&B Properties, Inc., acquired the property in the middle part of 2010. Plans call for the construction of 345 units with seven penthouse residences on the top floor. A sales gallery opens in December with fee-simple prices beginning at $400,000 for one-bedroom/one-bath units; $565,000 for two-bedroom/two-bath units; and $720,000 for three-bed/two-bath residences. Waihonua at Kewalo will offer a sophisticated urban lifestyle to a broad spectrum of buyers in today’s market place, said A&B Land Group President Christopher J. Benjamin. Amenities at Waihonua at Kewalo will include a fitness center, recreation deck, pool and spa, cabanas, barbeques, and a private movie theatre. The location, great amenities and interior design features will make this a tremendous opportunity for buyers. The building was designed by Hawai‘i-based architects Design Partners, Inc. In consultation with Pappageorge Haymes of Chicago. The building design was inspired by the history of the Kewalo area as well as the ocean, mountain and city views. A&B Properties has holding of more than 88,000 acres, primarily on the islands of Maui and Kauai. The company has development projects on all major islands as well as commercial properties and industrial space in Hawai‘i and on the mainland.

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Waihonua Tower Planned for Kaka‘ako

November 30th, 2011

A&B Properties, a subsidiary of Alexander & Baldwin, this week announced a new planned high-rise condominium one block from Ala Moana Center. Waihonua at Kewalo is described as a 345-unit tower on a 1.7 acre parcel on Waimanu Street, and will offer one, two, and three-bedroom residences. Waihonua means waters of the earth, in honor of the history of the land, including salt ponds, fish ponds, and taro patches, the company explains on its website. There’s also a separate website at Waihonua.com dedicated to the project: Imagine living in this iconic Oahu neighborhood. Take full advantage of the beach, your favorite shopping and amazing dining all just minutes from your doorstep. Enjoy a host of wonderful boutique-like amenities. Delight in gracious and beautifully designed living spaces that open up to glorious green and blue horizons. Just when you thought this neighborhood had everything. The proximity to shopping, dining, recreation, transportation, and a complete array of services makes Waihonua an excellent choice for urban living. Since acquiring the property in mid-2010, Kewalo Development has worked with Hawai‘i-based architects Design Partners, Inc., and its architectural consultant, Pappageorge Haymes of Chicago, to create a design for the tower. Amenities at Waihonua at Kewalo will include a fitness center, recreation deck including pool, spa and cabanas with barbeques, and a private movie theatre. Waihonua at Kewalo will offer a sophisticated urban lifestyle to a broad spectrum of buyers in today’s market place, said A&B Land Group President Christopher J. Benjamin. The location, great amenities and interior design features will make this a tremendous opportunity for buyers.

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