Half of units in Howard Hughes’ luxury Honolulu towers sold to Hawaii residents

remade_003More than half of the buyers in The Howard Hughes Corp.’s first two luxury condominium towers in Honolulu are from Hawaii, with the remaining buyers from Japan, Canada, China, Korea, Australia and the Mainland, the Texas-based developer said Friday in a letter to its shareholders.

The Howard Hughes Corp. (NYSE: HHC) said that 25 percent of the buyers of the total of 482 units in the Anaha and Waiea towers under construction in Kakaako — which, combined, are more than 80 percent sold — are from Japan, while about 10 percent are from the Mainland U.S.

“The sales to date demonstrate the pent-up demand for quality residential product in the urban core of Honolulu, and the broader undersupply of housing on the island of Oahu,” David Weinreb, CEO of The Howard Hughes Corp., said in the letter. “Despite the increase in recent development activity on Oahu, current housing production remains near historic lows.”

Oahu needs to produce about 4,000 units annual simply to meet existing demand, according to the University of Hawaii Economic Research Organization.

Honolulu single-family housing permits in 2014 totaled only 809, resulting in an ongoing shortfall that is difficult to close due to the lack of available land for development, the developer said.

“2014 was also a seminal year in progressing the next phase of projects at Ward Village,” Weinreb said. “In November, we obtained approval of the Ward Village Gateway, two towers designed by Richard Meier & Partners that will frame the initial portion of our four-acre community park space, connecting the core of the community from the harbor to a planned rail stop in the heart of our site. We also made progress on plans to bring a major grocery store to the neighborhood.”

In May, the developer signed a lease agreement with Whole Foods Market for a 50,000-square-foot store that will become its Honolulu flagship store.

In addition to Whole Foods, The Howard Hughes Corp. said its plan for this block includes additional retail and over 400 residential units, designed by internationally renowned architects Bohlin Cywinski Jackson who are probably best known for their work creating flagship Apple stores. The developer received approval for this project in February.

“Our focus on bringing the top architectural talent from around the globe to Hawaii is something that we believe will further separate Ward Village from its competition, creating a community that is unique not just in Hawaii, but benchmarked against other great urban master plans across the globe like Hudson Yards in Manhattan and Battersea Power Station in London,” Weinreb said.

Duane Shimogawa Reporter – Pacific Business News

Howard Hughes Corp. says Honolulu luxury towers three-quarters sold

anaha_01The Howard Hughes Corp. said Monday that 88 percent and 78 percent of the units in its two luxury condominiums in Kakaako — 171-unit Waiea and 311-unit Anaha — werre under contract as of Feb. 1, according to the Dallas-based developer’s 2014 annual report.

Located on a former surface parking lot fronting Ala Moana Boulevard, diagonally across from Anaha’s site, Waiea is expected to be completed by the end of 2016.

Anaha, which is located on the former Pier 1 Imports site, is anticipated to be completed in 2017, The Howard Hughes Corp. (NYSE: HHC) said.

As of Feb. 1, it has received $155.8 million in buyer deposits for Waiea and Anaha, which represent $854.4 million of contracted gross sales revenue.

Both towers are expected to cost about $804 million to develop.

The developer recently closed on $1.3 billion of property financings and refinancings, including a $600 million construction financing for Waiea and Anaha.

ONE Ala Moana, a 206-unit luxury condo located on Nordstrom’s parking garage, which was developed in a joint venture involving The Howard Hughes Corp., The MacNaughton Group and Kobayashi Group, closed on the sale of 201 of its units in the fourth quarter.

During 2014, the Texas-based developer also entered into a 20-year lease with Whole Foods Market to open a flagship store as part of a residential project in Kakaako.

Additionally, The Howard Hughes Corp. got approvals for the Ward Gateway condo towers to be built where Ward Warehouse is now located.

The company reported a profit of $111 million in 2014, up slightly from a profit of $109 million in 2013.

In the fourth quarter, it reported a profit of about $22 million, down from $44.4 million the same quarter in 2013.

Duane Shimogawa Reporter – Pacific Business News

Howard Hughes Corp.’s second Honolulu luxury tower to start construction in coming months

anaha_01The Howard Hughes Corp. is preparing to start construction in the coming months on its second luxury Honolulu condominium tower called Anaha that is planned for the former Pier 1 Imports location in Kakaako, the senior vice president for the Texas-based firm’s Hawaii operations told PBN.

The Howard Hughes Corp. (NYSE: HHC) said in its first quarter earnings report in March that it had pre-sold 54 percent of the project, which includes 311 units.

“Over the last few months, sales have continued to progress,” Howard Hughes Corp.’s Senior Vice President for Hawaii David Striph told PBN via email.

Last month, the developer broke ground on its Waiea luxury condo tower on a former surface parking lot fronting Ala Moana Boulevard, diagonally across from the Anaha site.

Both towers are part of the developer’s first phase of its Ward Village master plan.

The Howard Hughes Corp. plans to add more than 900 residential units in the first phase of its Ward master plan, which includes these two mixed-use high-rises.

Duane Shimogawa Reporter – Pacific Business News

 

Living on top of the world — Hawaii style

Amenities mean everything when money is no object

Howard Hughes Waiea In a model unit of the planned Howard Hughes Corp.’s Ward Village in Kakaako, which will soon be home to two ultra-luxury condominium buildings called Waiea and Anaha, and where a yet-to-be-built penthouse.

“Wave at the toilet,” Shanefield, the project’s development manager, tells a guest.

With a flutter of the hand, the lid of the electric toilet, which is made by Toto and retails for around $2,500, opens as if by magic.

From start to finish, the user never has to touch the lavatory.

Welcome to the world of high-end amenities that are now becoming more and more standard in new condos and homes in Hawaii. While Waiea and Anaha won’t be ready for two years, sales began last month. And, while members of the sales team declined to disclose numbers, they say that units, ranging from 727 to 3,500 square feet and priced from $500,000 to more than $20 million, are selling at a brisk pace to high-end buyers who are flush with cash and who want the best in the latest high-end amenities.

What buyers are looking for now in amenities is function. They want all the “extras,” but not extras such as, say, a gift-wrapping room, or four-inch granite countertops that drive the price of a condo up, when a one-inch countertop will do.

They want things, but they want things that they will actually use.

Howard Hughes Waiea“Simplicity seems to be a theme for both the high-end clientele and your median-priced home buyer,” said Ryan MacLaughlin, a Realtor with Island Sotheby’s International Realty on Maui. “Both young and old are looking for the more comfortable, smaller-sized homes with amenities at their fingertips. They are not looking for the mega house or the five-car garage, or the Olympic-sized swimming pool. They seem to be driving their economically efficient car to their more conservative-sized smart home where they can run everything in the home from their iPhone or Pad, and be able to take a dip in their pool in their very private backyard.”

Indeed, but while they don’t want an Olympic-sized pool, they do want an infinity pool, which Anaha will have — in some units. And, if they don’t want a mega-sized home, they want one that makes them feel like they are truly living the quintessential Hawaii lifestyle. Many are moving in because he wants a place where he can maintain a healthy lifestyle.

“The first thing we capitalize on is the view or whatever natural attributes that are obvious,” said Peter Vincent of Peter Vincent Architects. “That’s timeless, but it continues to be a more casual lifestyle. People aren’t looking for a lot of formal spaces. People live in Hawaii because they like the casual lifestyle. There may be elegance, too, but typically they are not looking for formality and really embrace the outdoor lifestyle.”

More than ever, people are willing to pay for that lifestyle and the amenities that make that possible. That includes building homes that are open and airy, rather than compartmentalized.

Home buyers want “flexi-rooms” that can serve dual purposes.

“The key amenity is being outdoors,” said Race Randle, director of development for the Howard Hughes Corp. And that includes while showering, which is why outdoor showers are very popular in single-family homes.

Howard Hughes WaieaRob Kildow, principal broker of Hualalai Realty on the Big Island, sells homes at the resort that range from $5 million to $27 million. People who buy them want to feel like they are outside when they are inside, and vice-versa.

“There is no difference from being outside and inside,” he said.

Once inside, buyers want the best. Kitchens at the Hughes projects have quartzite countertops, with no visible handles on the cabinets. A wine cabinet near the refrigerator, which retails for around $8,000, holds 106 bottles. The Miele refrigerator, which retails for around $8,300, through the power of technology automatically lets a repairman know when it needs to be repaired.

Speaking of automation, it is now considered a standard amenity. With the widespread use of iPads and other tablet computers, everyone can open their blinds without touching them. They can control the temperature, and high-end security systems let them keep an eye on home while they are away.

While the kitchen has always been the hub of many a home, Marion Philpotts-Miller, a principal with Philpotts Interiors in Honolulu, said that is truer than ever today. Separate, alcoved dining areas are out. Developers are concentrating on installing the best appliances, particularly Miele. The Ward Village buildings have Miele ovens — a convection oven, a regular oven and a steam oven – that retail for around $2,000 to $3,000 each. They also feature Miele coffee systems that retail for around $3,000 that Randle calls the best in the world, along with a sliding warming tray for mugs.

Light serves as another functional amenity.

“They like the lighting systems that are much more sophisticated,” Philpotts-Miller said. “Between art lighting and pin stops on floral arrangements to the uplighting of coral walls, it’s become much more of an art and discipline.”

Outside the residences, the amenity levels of the Ward Village buildings include playgrounds, putting greens, open-air dining areas, steam rooms, bars, tennis and volleyball courts, cinemas, media rooms and libraries.

Another major condo project currently underway in Honolulu is ONE Ala Moana, which is being developed by a partnership of the Howard Hughes Corp., The MacNaughton Group and the Kobayashi Group. The building is expected to be completed by the end of the year, and will include a wine-tasting room as well as a chef’s kitchen where residents can host personal chef-inspired dinner parties.

Howard Hughes WaieaMuch of the work for these high-end projects is done off-island. For example, the primary architects and designers on the project are located on the Mainland, Randle said, because few firms on Oahu can handle such a large project by themselves.

Instead, Howard Hughes has contracted big-name architects Solomon Cordwell Buenz and James K.M. Cheng and paired them with local firms on Oahu, Benjamin Woo Architects and WCIT Architecture.

Randle said the pairings work because while the larger firms plan the overall grand vision of the buildings, the smaller firms are local and can handle the day-to-day issues that come up, such as making sure the buildings meet Hawaii building codes.

Despite the trend toward simplicity, many mega-rich buyers still want mega-amenities, and Kildow knows them well. He said the most over-the-top amenity he has seen is one homeowner who put in a $3 million kitchen.

Jeffrey Long, the founder of Honolulu architectural firm Long & Associates and known for his opulent homes, also has had some over-the-top requests.

“One homeowner requested that we design a Star Wars theater for his residence,” he said. “The result was spectacular, with a life-sized C-3PO and R2-D2 and blue LED lights. We also designed a home with an infinity pool on the upper level, right outside the living room, capturing the spectacular views.

Long said his firm also has had requests for water parks, indoor car displays and elevators that bring the cars up from the basement.

But one request really stands out.

“The craziest thing we [designed] for a client was a 20-person home bomb shelter,” he said.


Howard Hughes Corp. breaks ground on Waiea condo tower in Honolulu

From left, David Striph, senior vice president of Hawaii, the Howard Hughes Corp.; David Weinreb, president and CEO, the Howard Hughes Corp.; Gov. Neil Abercrombie; Mayor Kirk Caldwell; and Nick Vanderboom, senior vice president of development, the Howard Hughes Corp., at the groundbreaking for the Waiea condominium at the Ward Village master-planned community in Honolulu.

From left, David Striph, senior vice president of Hawaii, the Howard Hughes Corp.; David Weinreb, president and CEO, the Howard Hughes Corp.; Gov. Neil Abercrombie; Mayor Kirk Caldwell; and Nick Vanderboom, senior vice president of development, the Howard Hughes Corp., at the groundbreaking for the Waiea condominium at the Ward Village master-planned community in Honolulu.

Howard Hughes Corp. President and CEO David Weinreb was joined by Hawaii Gov. Neil Abercrombie and Honolulu Mayor Kirk Caldwell Saturday for the groundbreaking on the Waiea condominium tower at Ward Village in Kakaako Saturday morning, with the governor saying that the massive residential, commercial and retail community will be like nothing Hawaii has seen before.

“Respect the past, but live in the present in order to create the future,” Abercrombie said to an audience of dozens that included future residents of the tower. He said the Ward Village represents a collaboration among political, economic and social circles that has never before existed in Hawaii.

If things go according to plan, that future includes two luxury towers— Waiea and Anaha — that will be built by the Howard Hughes Corp. and are geared toward higher-level income residents, as well as other, more affordable condominium towers that will eventually be built. Whole Foods Market (NYSE: WFM) recently announced that it will open a 50,000-square-foot store in Ward Village.

The project will have a total economic impact of $975 million and represents $2 million in annual property taxes for the City and County of Honolulu, said David Striph, senor vice president of Hawaii for the Howard Hughes Corp. (NYSE: HHC).

Caldwell told PBN that the project has been almost 40 years in the making, since the Hawaii Community Development Authority was founded.

He said about $300 million has been put into infrastructure improvements and that Kakaako is ready for such a large project.

Weinreb told PBN that the biggest challenge was assimilating the needs of the community into the project.

Abercrombie told PBN that seniors will enjoy living in a place where they can walk wherever they need to go.

The project represents the beginning of a new era for Honolulu, Caldwell said.

“We are on the cusp of becoming a capital for the Asia-Pacific area,” he said. “A true capital city we can all brag about.”

Bill Cresenzo Reporter – Pacific Business News

ANAHA - Click here for residence details and floor plans

ANAHA – Click here for residence details and floor plans

WAIEA - Click here for residence details and floor plans

WAIEA – Click here for residence details and floor plans

ANAHA TOWER
WAIEA TOWER

The Howard Hughes Corp. reports strong sales for two ultra-luxury high-rise condominiums in Kakaako

The Howard Hughes Corp. has reached contractual agreements for about half of the 482 units in its two ultra-luxury high-rises in Honolulu's Kakaako neighborhood— Anaha and Waiea, seen here in this rendering.

The Howard Hughes Corp. has reached contractual agreements for about half of the 482 units in its two ultra-luxury high-rises in Honolulu’s Kakaako neighborhood— Anaha and Waiea, seen here in this rendering.

The Howard Hughes Corp. reports strong sales for two ultra-luxury high-rise condominiums in Kakaako

Duane Shimogawa Reporter – Pacific Business News

The Howard Hughes Corp. has reached contractual agreements for about half of the 482 units in its two ultra-luxury high-rises in Kakaako — Anaha and Waiea — part of its Ward Village master-planned community, according to its first-quarter earnings report released Thursday.

“We are pleased with the sales progress to date, which is proceeding according to our expectations for the high-quality residences we are developing,” the Texas-based developer said.

It also has received $55 million in buyer deposits, representing about $609 million of gross sales revenue for the two high-rises, which began pre-sales in February. The gross sales revenue assumes that buyers will close on the units when they are completed.

Construction of the two towers is expected to get underway this summer.

Meanwhile, construction for ONE Ala Moana, a 206-unit ultra-luxury condominium tower being developed in a 50/50 joint venture involving The Howard Hughes Corp., The MacNaughton Group and the Kobayashi Group., is now 52 percent complete with an expected opening in the fourth quarter, the Howard Hughes Corp. said.

Howard Hughes says construction of Honolulu luxury condos to start in summer

Mar 6, 2014, 2:53pm HST
Duane Shimogawa Reporter – Pacific Business News

A penthouse in the proposed Waiea tower in The Howard Hughes Corp.'s Ward Village in Honolulu, seen in this rendering has a price tag of $20 million, the developer said Friday.

A penthouse in the proposed Waiea tower in The Howard Hughes Corp.’s Ward Village in Honolulu, seen in this rendering has a price tag of $20 million, the developer said Friday.

The Howard Hughes Corp.’s two ultra-luxury condominium high-rises in Kakaako, which began the sales process last month, is expected to start construction this summer, the Texas-based developer said in its 2013 annual report to shareholders.

Thus far, The Howard Hughes Corp. (NYSE: HHC) has spent $17.1 million on the development of the two towers, named Anaha and Waiea, which will add nearly 500 residential units to the Honolulu market, including a penthouse with an asking price of $20 million, a record for the highest asking price ever for a new condo unit in Hawaii.

The Howard Hughes Corp. plans to add more than 900 residential units in the first phase of its Ward master plan, which includes these two mixed-use high-rises.

The developer also said in its annual report that it sold its rights to its 50/50 development joint venture for $47.5 million in the ONE Ala Moana ultra-luxury condo project, which is under construction atop the Nordstrom parking garage at Ala Moana Center.

The 206-unit ONE Ala Moana project is being developed by HHMK Development, which includes The MacNaughton and Kobayashi Group, as well as The Howard Hughes Corp., and is expected to be completed in the fourth quarter of this year.

High-Rises’ Design Inspired by the Ocean

Two new high-rises in Ward Village look to the sea for inspiration.
BY A. KAM NAPIER

The Waiea condominium tower will be built on the site of a parking lot (1 on the picture), while Anaha will take the former Pier I site (labelled as 2). The yellow highlight indicates the Howard Hughes properties in Kakaako. Photos: Images Courtesy The Howard Hughes Corporation

The Waiea condominium tower will be built on the site of a parking lot (1 on the picture), while Anaha will take the former Pier I site (labelled as 2). The yellow highlight indicates the Howard Hughes properties in Kakaako.
Photos: Images Courtesy The Howard Hughes Corporation

It’s not your imagination, Honolulu is packed with high-rises. In fact, it ranks sixth in the United States —right behind San Francisco—and 30th in the world among cities with the most skyscrapers, according to Emporis, a building-industry information clearinghouse.

Since statehood, high-rise condominiums have evolved from concrete towers with prominent lanai into shiny, smooth, glass towers such as Hokua or the Moana Vista. Some look better than others, but one thing none of them do particularly well is tell a story through architecture. That’s about to change with the first two luxury condos that Howard Hughes Corp. will be building in its Ward Village redevelopment. They won’t just offer ocean views, they’ll draw their inspiration from the ocean.

Waiea, at 1118 Ala Moana (currently the parking lot across from Ward Theatres), will tap into the area’s fishing history, while kitty-corner from it, at 1108 Auahi St. (formerly Pier 1), Anaha will reflect the ocean in a figurative as well as literal way, with windows and lanai set in undulating rhythms to resemble a procession of waves at sea catching the light. Anaha is designed by Solomon Cordwell Buenz out of San Francisco with local partner Ben Woo Architects.

Strachan Forgan, an associate principal at SCB, says Anaha’s effect will be achieved by “interlocking and alternating softly curved floorplates, wrapped in a smooth glass skin. This composition is reminiscent of the play between the crests and troughs of an open-ocean wave (and) the reflection of light will constantly alter as the viewpoint and environmental conditions change.”

“The abstraction of waves is common in the Islands’ artistic traditions,” SCB says, and the firm aims for Anaha to contribute to that architecturally. Anaha also needed to fit in with the Ward Village master plan, so, while the abstracted waves of the tower speak to the area’s historic ties to the ocean, its ground floors fill the site, per the plan, with apartment flats and shops, offering, “a unique streetscape and interaction with the retail along Kamakee Street.” Says Forgan, “The opening created between these geometries creates a vibrant focal point approaching the lobby.”

For Waiea’s Canadian architect, James K.M. Cheng, the realization that the original shoreline passes right through Waiea’s site was pivotal to the building’s design. “That got us thinking about how to have a geological relationship with the site as well as a connection to Hawaiian folklore,” he says.

The geological relationship will come through in the way the three main masses of the building – high-rise tower, low-rise townhouses and parking structure – will seem to rise up out of reflecting pools and lava rock, as if they were islands themselves. For Cheng, however, the ocean represents a potential threat to the building as well as an inspiration.

“We’re aware of the possibility of sea-level rise, that in 50 years it could be higher than today, so all the life-sustaining equipment in the building is placed above grade,” he says. Along the makai side of the building, concrete walls that provide privacy for townhouse residents are also meant to protect the building from possible storm surges.

The top-to-bottom glass skin of a modern high-rise is called a curtain wall because it hangs like a curtain from the steel and concrete structure of the building. On Waiea, the glass will look like a curtain frozen in mid-billow, though the designers would prefer if you thought of it as a fishing net.

Honolulu architect Rob Iopa, president of WCIT Architecture, collaborated with Cheng on the design of Waiea, for which he did extensive research into the area’s history and legends.

In brief, there was a deity for fishing and ocean activities named Kuulakai, who possessed magical fishing tools and who had a son named Aiai. Kuulakai passed his knowledge on to Aiai, and, when the time came for Kuulakai to leave earthly life, he left his fishing tools to Aiai and instructed him to go from island to island establishing fishponds. Aiai did exactly that, finally settling in Kakaako, where he had a son of his own, Puniaiki, who helped Aiai develop fishponds.

The fishery just off the original shoreline in the area was known as Kukuluaeo, which is the name of the Hawaiian stilt, a long-legged bird that lives at the shoreline.

The legend plays out in the design of Waiea: the taller residential tower represents Kuula-kai, the lower represents Aiai and the gentle folds of the glass curtain wall is their net. Says Iopa, “Like Kuulakai and Aiai once did, the building stands in the tidal pools of the water’s edge, net draped, patiently waiting and ever searching.”

Before Western contact, Kakaako was filled with inland fishponds, salt pans, marshes and kalo loi, in addition to the thriving fisheries.

Landfill between the 1840s and 1880s eventually turned everything from the original shoreline all the way to the inner reef into solid land. The widest fill is everything between Ala Moana boulevard and Kakaako Waterfront Park. While the shoreline changed, things changed dramatically for Native Hawaiians, who once crowded into a shantytown called Squattersville on this new landfill until the area was cleared for a city incinerator.

Victoria and Curtis Perry Ward and their daughters then owned everything from Thomas Square to the shore, completing an elegant home called the Old Plantation in 1881 (torn down in 1958 to make way for the Blaisdell Center). In 1919, Kewalo Harbor was dredged, and became home to lumber schooners, then fleets of Japanese fishing sampans. Then light industry and retail came to the area.

Now Howard Hughes Corp., with the help of cultural advisors such as Iopa, is infusing its Ward Village redevelopment with nonstop Hawaiian terms, history and cultural concepts. Waiea means “water of life.” Anaha means “reflection of light.” Marketing material for Ward Village talks a lot about modern-day ahupuaa, as if it were possible to go directly from hale pili to high-rises.

And yet, it really is crafting a village. As dense as Kakaako is and seemingly packed with people, it’s a bit shocking when Race Randle, director of development for Howard Hughes, reminds me that, in the 60 acres it is redeveloping, there are currently no actual residents.

“It’s all commercial right now,” he says. When the redevelopment is complete, with its 20 new towers over the next 10 or 20 years, there will be 4,000 families in the area. “It would take 800 acres of green field in Ewa to house that many people.”

These first two towers, on which construction will start this year, are definitely statement buildings. Studio apartments at Anaha start in the $470,000s and one-bedroom units at Waiea start at $1.5 million. Waiea also features a penthouse with four bedrooms, 4.5 bathrooms and 4,000 square feet of space.* Part of what they’re asserting is an environmental sensitivity throughout the Ward Village concept. So far, so good. In late November, the Ward Village project – the entire 60-acre master plan – was awarded a LEED Neighborhood Design Platinum certification by the U.S. Green Building Council, for sustainability as a walkable, mixed-use neighborhood. It’s the nation’s largest such project and the only platinum-certified project in Hawaii, the design team says. LEED certifications for individual projects such as Waiea and Anaha will be pursued as they’re built.

The plan also calls for each tower to have a different team of mainland and local architects, to bring variety to the neighborhood. It would not be surprising, though, if many of the projects have Iopa’s indirect fingerprints, as he has consulted on the master plan itself.

As for his work on Waiea, he says, “We are excited by the opportunity to participate and contribute to tall-building architecture that says, ‘Design does matter.’ ” 

http://www.hawaiibusiness.com/Hawaii-Business/February-2014/High-Rises-Design-Inspired-by-the-Ocean/

Howard Hughes Corp. unveils Honolulu’s redeveloped IBM Building: Slideshow

Jan 24, 2014, 2:47pm HST UPDATED: Jan 27, 2014, 2:10pm HST
Duane Shimogawa Reporter – Pacific Business News

Workers prepare for a private grand opening of the newly renovated IBM building.

Workers prepare for a private grand opening of the newly renovated IBM building.

The Howard Hughes Corp. on Friday unveiled its $24.4 million redevelopment of the iconic IBM Building in Honolulu, which is now an information center and residential sales gallery for the Texas-based developer’s Ward Village master plan in Kakaako.

The plan is to open the center to the public on Jan. 31, Nick Vanderboom, senior vice president of development for The Howard Hughes Corp., told PBN. Click on the photo for a slideshow.

“The IBM Building is a perfect example of The Howard Hughes Corp.’s long-term commitment to blend our respect for Hawaii’s unique and rich history with our vision for Ward Village as a vibrant, environmentally sustainable, integrated community,” Vanderboom said in a statement.

The IBM building, which was originally designed in 1962 by famed famed Hawaii architect Vladimir Ossipoff, is part of the developer’s first phase of its Ward Village plan that includes its first three residential towers, The renovation preserved the tower’s distinct concrete brise-soleil and included complete interior renovations of the first, second and sixth levels of the building.

The redevelopment also included an addition to the seventh-floor rooftop, an open air lanai addition to the ground floor and an upgrade of the site’s hardscape and landscape, eliminating parking to create a courtyard, a Native Hawaiian Garden and community space on the makai side of the building.

The ground floor, which houses the Ward Village master plan information center, features an original wall mural by Native Hawaiian artist Solomon Enos, an interactive exhibit created in partnership with the Bishop Museum showcasing the history of the Ward area, demonstrative displays and models that show details of the planned 60-acre project and a theatre open to the public to watch a film about Ward Village.

001The ground floor also will include a restaurant, which will overlook the makai courtyard and a water feature.

David Striph, senior vice president of Hawaii for The Howard Hughes Corp. (NYSE: HHC), told PBN that it is talking to potential tenants for the space, but that no decision has been as to who will lease that space.

The sales gallery, which is located on the sixth floor, has complete model units for the first two planned mixed-use condominium towers, Waiea at 1118 Ala Moana Blvd. and Anaha at 1108 Auahi St.

Sales for both condos are expected to begin in early 2014, the developer said.

Penthouse at Howard Hughes’ Honolulu condo project priced at $20M

Jan 31, 2014, 2:00pm HST
Duane Shimogawa Reporter – Pacific Business News

A penthouse in the proposed Waiea tower in The Howard Hughes Corp.'s Ward Village in Honolulu, seen in this rendering has a price tag of $20 million, the developer said Friday.

A penthouse in the proposed Waiea tower in The Howard Hughes Corp.’s Ward Village in Honolulu, seen in this rendering has a price tag of $20 million, the developer said Friday.

The Howard Hughes Corp., which has plans to build two ultra-luxury, mixed-use condominium towers as part of its Ward Village master plan in Kakaako, on Friday published owner-occupant pre-sales notices for the two projects, including a penthouse with an asking price of $20 million, a record for the highest asking price ever for a new condo unit in Hawaii.

Nick Vanderboom, senior vice president of development for The Howard Hughes Corp. (NYSE: HHC), said that sales for the two buildings, Waiea and Anaha, begin Saturday at 9 a.m.

The starting price of a studio unit in Anaha, located at 1108 Auahi St. on the site of the former Pier 1 Imports store, is in the high $400,000s to high $500,000s, while a one-bedroom unit ranges between $600,000 and mid $1 million.

A two-bedroom unit starts in the high $900,000s to more than $2 million, with three-bedroom units ranging from more than $1 million to more than $4 million, and penthouses priced at more than $1 million to $14 million.

A one-bedroom unit in Waiea, located at 1118 Ala Moana Blvd., across from the Ward Entertainment Center, starts at more than $1 million, with a two-bedroom unit going for between more than $1 million to more than $4 million, and three-bedrooms priced from more than $2 million to $7 million range.

Penthouses in Waiea range from $4 million to $20 million with villas ranging from more than $4 million to $5 million.

Long lines already started forming Friday at the historic IBM building, which has been renovated to include an information center and residential sales gallery for the developer’s Ward Village master plan.

“We are pleased to invite all interested members of the public to join us for a first look at these exceptional residences set among dynamic public open spaces and walkable streets in the heart of Honolulu,” Vanderboom told PBN in an email.

A week ago, The Howard Hughes Corp. unveiled its $24.4 million redeveopment of the iconic IBM Building.

The Howard Hughes Corp. plans to add more than 900 residential units in the first phase of its Ward master plan, which represents more than $1.25 billion in economic impact and thousands of direct and indirect jobs for Oahu, according to a study by ALH Urban & Regional Economics.

Company Disclaimer: Information is deemed reliable but not guaranteed.