Howard Hughes challenges HCDA over conditions for 42-story Kakaako tower

Howard Hughes challenges HCDA over conditions for 42-story Kakaako tower

The Howard Hughes Corp. is challenging the state agency regulating development in the Honolulu neighborhood of Kakaako regarding conditions the agency set for the approval of its newest mixed-use high-rise residential project within its 60-acre Ward Village master-planned community, public documents show.

Earlier this month, the Hawaii Community Development Authority officially approved the Texas developer’s plan to develop a 42-story, 751-unit Aalii project in Kakaako. With that approval, came…

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Author: Duane Shimogawa

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Alexander & Baldwin has spent $9.5M so far on evaluating potential move to become a real estate investment trust

Alexander & Baldwin has spent $9.5M so far on evaluating potential move to become a real estate investment trust

Alexander & Baldwin Inc. has spent $9.5 million on its evaluation efforts that will be used to decided whether to become a real estate investment trust or not, according to public documents filed Wednesday.

Chris Benjamin, president and CEO of one of Hawaii’s oldest and most prominent companies, previously told Pacific Business News that it could make a decision by this spring.

Of the $9.5 million in evaluation costs, the Honolulu-based company spent $5.7 million in the fourth quarter alone,…

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Author: Duane Shimogawa

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​Hawaii has lowest real property tax, WalletHub report says

​Hawaii has lowest real property tax, WalletHub report says

Hawaii has the lowest real property tax in the United States with a rate of 0.27 percent, according to a report by WalletHub.

According to the report, Hawaii’s annual taxes on a $178,600 home is $487, 8.6 times lower than in New Jersey, the state with the highest property taxes at $4,189. WalletHub selected $178,600 as the marker because it was the 2015 median U.S. home value, according to the Census Bureau, though the median price of a home in Hawaii is much higher.

Hawaii tops the list with…

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Author: Katie Murar

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Honolulu cool when it comes to house flipping

Honolulu cool when it comes to house flipping

Honolulu, where the median price of a single-family home rose 5 percent last year, was one of the coolest spots in the U.S. for house flipping in 2016, when compared with other metropolitan areas.

According to new research from Trulia, a combination of rising home prices and a stronger labor market have helped push home-flipping numbers to their highest levels in a decade. Approximately 6.1 percent of all home sales in 2016 qualified as a “flip,” defined as the purchase of a house at a market rate…

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Author: Katie Murar

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Lawsuit claims developers of North Shore subdivision owe past dues to association

Lawsuit claims developers of North Shore subdivision owe past dues to association
The family who developed The Bluffs at Waimea, a 25-lot residential subdivision on Oahu’s North Shore overlooking the famed Waimea Bay, is being sued by the subdivision’s community association for allegedly not paying association dues, according to court documents.

The subdivision includes two streets — Tutu Place and Tutu Street — paying homage to the family’s grandma, who was the original landowner.

Duane Shimogawa
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Facebook CEO reconsiders effort in Kauai land action

Facebook CEO reconsiders effort in Kauai land action
Facebook CEO Mark Zuckerberg said Tuesday that he is reconsidering his effort to gain “quiet title” from hundreds of fractional owners of small pieces of land, or kuleana lands, within his 700 acres of oceanfront land he owns on the island of Kauai’s North Shore.

Zuckerberg said in a statement Tuesday that “based on feedback from the local community, we are reconsidering the quiet title process and discussing how to move forward.”

 

Duane Shimogawa
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Howard Hughes to present plans for $20M upgrade to Kewalo Basin Harbor this spring

The Hawaii Community Development Authority is scheduled to hear plans from The Howard

The Hawaii Community Development Authority is scheduled to hear plans from The Howard

The Howard Hughes Corp. is scheduled to present plans in May for its $20 million upgrade to the Kewalo Basin Harbor that’s directly across from its 60-acre Ward Village master-planned community in Honolulu.

The Hawaii Community Development Authority has scheduled a presentation hearing for May 4 at 1 p.m. at its office on Queen Street in Honolulu.

A decision-making hearing is scheduled for June 1 at 1 p.m. at the same venue.

Howard Hughes’ Kewalo Harbor Development Co. LLC is requesting a development permit from the HCDA, the state agency regulating development in the Honolulu neighborhood of Kakaako, to do the upgrades.

The project, which has been estimated to cost between $15 million and $20 million, consists of building 214 boat slips in two phases, as well as various maintenance, upgrades and modernization of existing harbor infrastructure, including installing a dedicated marine fueling facility.

Last week, the Texas-based developer, which took over management duties of the harbor in September, received approval from the HCDA to undergo a $3.5 million upgrade on the Fisherman’s Wharf loading dock at Kewalo Basin Harbor that is part of the overall renovation of the harbor.

Pacific Business News

Kamehameha Schools’ $90M Kakaako affordable rental project may be completed by 2017

This rendering shows the Keauhou Lane condominium project in Honolulu being developed

This rendering shows the Keauhou Lane condominium project in Honolulu being developed

Kamehameha Schools’ $90M Kakaako affordable rental project may be completed by 2017

Kamehameha Schools’ $90-million Keauhou Lane rental project in the Honolulu neighborhood of Kakaako, is expected to start construction in the first or second quarter of this year and be completed in the second or third quarter of 2017, according to public documents. Keauhou Lane is part of the block that includes Stanford Carr Development’s Keauhou Place

Portland, Oregon-based Gerding Edlen is developing the project on behalf of the state’s largest private landowner.

Carr’s Keauhou Place, which is located on the block at 500 South St. and 500 Keawe St., includes 388 residential units in a 400-foot tower, along with 35 townhome units in a 42-foot mid-rise tower. The project, which includes a rail transit station, has already started construction.

Keauhou Lane, being developed by GE Hawaii Block A2 LLC, includes 209 affordable rental housing units and about 32,300 square feet of restaurant and retail space, according to the project’s recently released draft environmental assessment.

The six-story building will consist of 51 studios, 86 one-bedroom units and 72 two-bedroom units.

All 209 units of the project will be reserved for residents making up to 100 percent of the area median income, which comes out to $1,677 or less per month for a studio, $1,797 or less per month for a one-bedroom unit and $2,157 or less per month for a two-bedroom unit.

The project will involve funding from the Hawaii Housing Finance and Development Corp.

“The project is an essential component in providing critical affordable rental housing inventory within this rapidly growing population center,” the project’s draft EA said. “This project will also fulfill the reserved housing obligation and mix of uses required by the Hawaii Community Development Authority, the state agency regulating development in Kakaako.

Pacific Business News

Howard Hughes’ Whole Foods Kakaako condo project starts constructio

aeo_wholefoodsThe Howard Hughes Corp. officially began construction Thursday on its third mixed-use condominium tower in the Honolulu neighborhood of Kakaako, with a groundbreaking ceremony for Aeo, which includes what will be Whole Foods Market’s flagship Hawaii store.

The Texas-based developer already has two other residential towers under construction, Waiea and Anaha, which are located nearby within the 60-acre Ward Village.

“My family is looking forward to calling Ward Village home, that will soon have thousands of families calling this neighborhood home,” said Nick Vanderboom, senior vice president of development for The Howard Hughes Corp.

The 54,000-square-foot Whole Foods Market is expected to open in about two years, possibly the first quarter of 2018, with Aeo opening sometime after that.

Todd Apo, vice president of community development for The Howard Hughes Corp., told PBN that it expects to start demolition of the existing that Office Depot building on the lot toward the end of March. Office Depot is currently moving out of that space.

Demolition will begin with the warehouses in the back of the Office Depot first, with construction fencing coming up around the project in mid-March.

The parking lot of the project is expected to remain open until the end of March.

Bohlin Cywinski Jackson is partnering with Architects Hawaii Ltd. on the design of the project. Layton Construction is the general contractor.

Bounded by Queen and Kamakee streets, the block is behind the Ward Entertainment Center and also contains the former Nordstrom Rack.

Plans for Aeo also include 12,000 square feet of retail and more than 700 parking spaces in a block-filling podium to be topped with a narrow high-rise offering about 466 residential units.

No development cost was given for the project, which is named after the Aeo stilt bird that once lived the area.

“[The project] is consistent with our mission of honoring the past as we look to build a better future for this community,” Vanderboom said.

In November, the developer said that close to 35 percent of its units in Aeo are under contract.

Howard Hughes also is developing a 43-story, 424-unit mixed-use mostly affordable tower that will include a Longs Drugs ground floor store called Ke Kilohana at 988 Halekauwila at the corner of Ward Avenue and Halekauwila Street.

The project is expected to satisfy the developer’s affordable housing requirement set by state regulators.

Pacific Business News

Howard Hughes plans more retail space below Ward Village’s T.J. Maxx

tj-maxxward-750xx600-338-0-31The Howard Hughes Corp. has begun work on a space below T.J. Maxx at Ward Village in Honolulu for planned retail tenants, a spokeswoman for the Texas developer confirmed to PBN.

Howard Hughes was issued a $2.5 million building permit last week for a “Village Market” project at Suite No. 100 at 1170 Auahi St., according to public records from the City and County of Department of Planning and Permitting.

A spokeswoman for Howard Hughes told PBN that it is not a supermarket/grocery store, but that the developer is doing some work on the space beneath T.J. Maxx, which will eventually be a space for more retail tenants.

The actual name of the space is still to be determined and no timeframe for the development has been set just yet.

In addition to T.J. Maxx, the Ward Village Shops, at the corner of Kamakee and Auahi Streets, includes Nordstrom Rack, Pier 1 Imports and CorePower Yoga.

Honolulu-based Gateside Inc. is listed as the general contractor for the Ward Village Shops project.

Pacific Business News

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