Kamehameha Schools’ may not develop all parcels in ‘Our Kakaako’ plan

A rendering of one of several "Our Kakaako" residential projects in the growing Honolulu neighborhood.

A rendering of one of several “Our Kakaako” residential projects in the growing Honolulu neighborhood.

Kamehameha Schools, Hawaii’s largest private landowner, and one of the major developers of the growing Honolulu neighborhood of Kakaako, probably won’t develop all of the parcels in its “Our Kakaako” plan — at least during this current economic cycle — the chairman of the $9.2 billion trust’s board recently said at a construction industry event.

“These [remaining] blocks will be [utilized] for interim uses,” said Lance Wilhelm, managing member of California-based Irongate and chairman of the board of trustees for Kamehameha Schools.

Thus far, the trust, which is one of the larger landowners in Kakaako, has contracted with some of the state’s most well-known developers, including Alexander & Baldwin, Castle & Cooke Homes Hawaii, Stanford Carr Development, The MacNaughton Group and Kobayashi Group, to build housing projects on those parcels.

Our Kakaako consists of nearly 30 acres on nine city blocks, seven residential towers that include 2,750 units and 300,000 square feet of commercial space.

It’s not quite clear which blocks won’t be developed.

The Howard Hughes Corp., the single entity that owns the most land in Kakaako, is conducting a different approach to developing its parcels.

The Texas-based developer is developing its own master-planned community, which is being dubbed, “Ward Village.”

It has development rights to some 20 high-rise towers in the area.

PBN reached out to Kamehameha Schools and Wilhelm for comment on Tuesday.

Duane Shimogawa Reporter – Pacific Business News

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