Luxury condos at Ala Moana Center to be priced between $1M and $20M

The old Sears at Ala Moana Center is seen in the early stages of its redevelopment in this file photo.

The old Sears at Ala Moana Center is seen in the early stages of its redevelopment in this file photo.

Park Lane Ala Moana, the $1 billion luxury condominium project being built on what was once a parking area at Ala Moana Center by a trio of Honolulu firms — Kobayashi Group, The MacNaughton Group, BlackSand Capital — and landowner General Growth Properties Inc., plans to price the units between at least $1 million and at least $20 million.

Up until Thursday, prices had not been revealed for the units, which will be built adjacent to the new Bloomingdale’s department store under construction at the state’s largest shopping mall as part of General Growth Properties’ (NYSE: GGP) $573 million redevelopment of its Ewa wing.

Alana Kobayashi Pakkala, partner and executive vice president of Kobayashi Group, and Brett MacNaughton, development associate of The MacNaughton Group, gave an update on the project Thursday at a NAIOP Hawaii Breakfast Forum at the Pacific Club in Honolulu.

Pakkala said that the project was years in the making.

“Back in 2001, I was sitting in a boardroom and talked about how excited I was about [the] Hokua [condominium, which was developed by Kobayashi Group and The MacNaughton Group] because of its proximity to Ala Moana [Center] and with its unobstructed views [of the ocean], but Duncan [MacNaughton, founding partner and chairman of The MacNaughton Group] brought [the Park Lane project] up and said ‘there’s one better location — at the corner of Piikoi Street and Ala Moana Boulevard,'” she said.

Pakkala noted that the developers conducted a design competition to come up with the design for Park Lane, which has 93 different floor plans.

“We thought this warranted that because it’s a once-in-a-lifetime opportunity,” she said. “The front door will be the Pacific Ocean.”

Park Lane also has some features that were used at the Big Island’s Kukio Golf and Beach Club resort community, which the Kobayashi Group also helped to develop.

“We felt we could take the best practices at Kukio and bring it here,” Pakkala said.

For instance, it is using Don Vita at Park Lane, the same landscape architect Kobayashi Group used at Kukio.

Pakkala noted that there will be a great lawn area that will be made so that one of the homeowners’ daughters will want to get married there one day.

Then there’s the actual Park Lane, which will run through the property and act as the backbone of the community.

Honolulu-based Heyer & Associates Inc., is handling sales for the project.

Park Lane, which was first reported by PBN, started construction this summer and is expected to be completed in 2016.

Located at 1388 Ala Moana Blvd., the seven eight-story buildings, which will each be 100 feet tall and have 215 units that range in size from 850 square feet to 6,000 square feet, also will include two floors of residential parking, 2.5 floors of commercial parking and amenity spaces. It also will include one commercial unit and monthly maintenance fees up to a little more than $7,500, according to public records.

Duane Shimogawa Reporter – Pacific Business News

Ultra-luxury project at Ala Moana Center to include 215 condo units

Feb 5, 2014, 2:55pm HST
Duane Shimogawa Reporter – Pacific Business News

This rendering shows the six ultra-luxury condominium buildings planned for a portion of Ala Moana Center. The project will have a total of 215 units, according to a building permit filed with the City and County of Honolulu.

This rendering shows the six ultra-luxury condominium buildings planned for a portion of Ala Moana Center. The project will have a total of 215 units, according to a building permit filed with the City and County of Honolulu.

The planned seven ultra-luxury condominium towers to be built on what is now a parking area of Ala Moana Center fronting Ala Moana Boulevard will include 215 units with 109 two-bedroom units, 65 three-bedroom units, 36 one-bedroom units and five five-bedroom penthouses, according to a permit filed recently with the City and County of Honolulu.

The application for the “Low Rise Residential” project includes no other details, except that the estimated sewer connection date is set for Dec. 31.

PBN first reported on the project, which is being developed by Honolulu developers The MacNaughton Group and Kobayashi Group as well as the Hawaii-based investment firm BlackSand Capital and mall owner General Growth Properties (NYSE: GGP).

The eight-story buildings, which will be 100 feet tall, range in size from 850-square-foot units to 6,000-square-foot units and will have 2.5 floors of commercial parking.

No price ranges for the units were given for the project, which will be built adjacent to the Bloomingdale’s store under construction at Ala Moana Center. It is scheduled to start in mid-2014, with a completion date in 2016.

Nordstrom (NYSE: JWN) is also moving its Ala Moana store to that end of the mall, along Piikoi Street, and a Whole Foods Market (NYSE: WFM) is being planned for the ground floor of that store.

Luxury_Oahu_Estates_$2M -_$3M

Luxury_Oahu_Estates_$3M -_$4M

Luxury_Oahu_Estates_$4M -_$5M

Luxury_Oahu_Estates_$5M -_$6M

Luxury_Oahu_Estates_$6M -_$8M

Luxury_Oahu_Estates_$8M – 10M

Luxury_Oahu_Honolulu_Condos

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