Aug 16, 2013, 2:49pm HST
Duane Shimogawa | Reporter- Pacific Business News
A&B Properties Inc.’s newest residential project in the Honolulu neighborhood of Kakaako, called “The Collection,” will begin the sales process on Saturday at its newly opened sales gallery at 680 Ala Moana Blvd.
Many prospective buyers already began lining up on Friday to get their hands on a unit or two in the 43-story, 460-unit project, which received approval from the Hawaii Community Development Authority last week.
The Collection, a $200 million project to be developed on the former CompUSA site, will include a high-rise tower, a mid-rise building and town homes, as well as retail shops and restaurants.
Prices in the high-rise tower, which will include 397 residences, start in the high $300,000s for one-bedroom units, mid $500,000s for two-bedroom units and mid $700,000s for three-bedroom units.
Amenities will include a pool, outdoor lounge, fitness center, club room and a private dog park within the tower.
A&B Properties, a subsidiary of Alexander & Baldwin Inc. (NYSE: ALEX), plans to use the same development team as it utilized for its sold-out Waihonua high-rise project, which is currently under construction on Waimanu Street.
The team includes Architects Pappageorge Haymes Partners and Design Partners, as well as interior design firm Philpotts Interiors and Heyer & Associates as its exclusive broker.
The sales gallery will open from 9 a.m. to 5 p.m. on Saturday and will be open daily after that from 10 a.m. to 6 p.m.
Construction on The Collection is expected to take up to 30 months to complete with the estimated start date at least a year away.