Stanford Carr prepares to launch newest project

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This architect’s rendering previews the look of the Keauhou Lane residential high-rise.

Stanford Carr Development is slated to start construction on its Keauhou Lane project in Kakaako in late March or early April of 2015.

The project includes 388 residential units in a 400-foot high-rise tower and 35 townhouse units in a 42-foot mid-rise tower. Alakea Design Group and Richard Matsunaga & Associates are the architects and Hawaiian Dredging Construction Co. Inc. is the general contractor.

In an exclusive interview with PBN this week, Stanford Carr, president and founder of the Hawaii-based firm that bears his name, talked about how the transformation of Kakaako is going, as well as updates on his projects across the state.

A Keauhou Lane sales office opened recently in a former U.S. Department of Housing and Urban Development office at Waterfront Plaza.

“We’re just giving the consumer options,” Carr said of his project. “The people who come in are local families, couples. There must have been 40 people at one time that I’ve seen. It’s exciting and there’s lots of energy.”

Sales of Keauhou Lane, which will be near a Honolulu rail transit station, are expected to begin in early January.

“We’re closing on our construction loan [soon], and we’re already going for [building] permits,” Carr said.

The block at 500 South St. and 500 Keawe St. includes a project by Oregon-based developer Gerding Edlen on behalf of landowner Kamehameha Schools. That project includes 209 residential units in a 65-foot mid-rise building and 39,145 square feet of ground-floor commercial space.

“There’s already pent-up demand from the last four years, starting in 2008,” Carr said of the housing market in Hawaii. “What The Howard Hughes Corp. is offering satisfies a sector, what [Alexander & Baldwin Inc.], we and Marshall Hung are offering also satisfies a sector of the market.

“Hawaii’s got a bright future ahead of itself,” Carr said. “We have seen the cycles of the last 30-plus years. History will repeat itself. There’s a lot more confidence [these days].”

The entire development will be located on the site of a surface parking lot adjacent to Carr’s Halekauwila rental project and bounded by Halekauwila, Pohukaina, South and Keawe streets.

Combined, the projects will have about 50,000 square feet of recreational space and more than 65,000 square feet of open space.

Carr’s portion will take up about 93,000 square feet of “Block A” of Kamehameha Schools’ “Our Kakaako” master plan, which includes 29 acres on nine city blocks, seven residential towers that include 2,750 units, and 300,000 square feet of commercial space.

Gerding Edlen’s portion includes 69,387 square feet of property with live-work units, rental apartments and ground-floor commercial space. The six-story building will have a mix of studios, one-bedroom and two-bedroom units.

Duane Shimogawa Reporter – Pacific Business News

Hawaii developer Stanford Carr says ‘stars are aligned’ this real estate cycle

Developer Stanford Carr of Honolulu-based Stanford Carr Development is seen talking about his Keauhou Lane project in this file photo.

Developer Stanford Carr of Honolulu-based Stanford Carr Development is seen talking about his Keauhou Lane project in this file photo.

Hawaii developer Stanford Carr, who has been around for several real estate cycles in the state, describes the current upswing as if the stars are aligned.

In an exclusive interview with PBN this week, the Maui native who has turned into one of the top developers in Hawaii, especially in the residential real estate sector, noted that one of the stars is the pent-up demand of the market.

Other factors include an overall improvement in the economy, high consumer confidence and historically-low interest rates.

In the Honolulu neighborhood of Kakaako where Carr’s Stanford Carr Development is getting ready to start construction on his 388-unit Keauhou Lane residential project, the skyline is dotted with numerous building cranes and several other developers are helping to build up the area between Downtown Honolulu and Waikiki.

“You can look out at the skyline [in Kakaako] and you can correlate these buildings with the different economic cycles,” Carr said as we looked out of his office’s conference room on the 27th floor of the 1100 Alakea building in Downtown Honolulu. “You see Royal Capitol Plaza, Imperial Plaza, Waterfront Towers, Nauru Tower, Hawaiki Tower, One Archer Lane, Hokua, Hokulani, Moana Pacific, Pacifica and 909 Kapiolani.”

He pointed out that the new cycle includes Hawaii developer Marshall Hung’s 801 South St. projects at the site of the former Honolulu Advertiser building, The Howard Hughes Corp.’s slew of towers in Ward Village, Alexander & Baldwin’s Waihonua at Kewalo, the Kobayashi Group and The MacNaughton Group’s ONE Ala Moana and Vida at 888 Ala Moana, OliverMcMillan’s Symphony Honolulu, his Keauhou Lane and others.

When asked when he feels the cycle will begin to taper off, Carr said that the state is okay for the next three years.

“[But] beyond that, ask that question again next year,” he said.

Duane Shimogawa Reporter – Pacific Business News

Stanford Carr’s Keauhou Lane project in Honolulu to start construction in March

KEAUHOU LANE 01Hawaii developer Stanford Carr’s Keauhou Lane project, which includes 388 residential units in a 400-foot high-rise tower, along with 35 townhouse units in a 42-foot mid-rise tower, is slated to start construction in late March or early April, the developer told PBN Tuesday.

Alakea Design Group and Richard Matsunaga & Associates are the architects and Hawaiian Dredging Construction Co. Inc. is the general contractor for the project.

In an exclusive interview with PBN on Tuesday, Carr talked about how he feels the transformation of the Honolulu neighborhood of Kakaako is going, as well as updates on his projects across the state, including Keauhou Lane.

A sales office for the project recently opened at a former U.S. Department of Housing and Urban Development office at Waterfront Plaza in Downtown Honolulu.

“We’re just giving the consumer options,” Carr said of his project. “The people that come in are local families, couples. There must have been 40 people at one time that I’ve seen. It’s exciting and there’s lots of energy [at the sales gallery].”

Sales of Keauhou Lane, which will include a Honolulu rail transit station, are expected to begin the first of January.

“We’re closing on our construction loan [soon], and we’re already going for [building] permits,” Carr said.

The block at 500 South St. and 500 Keawe St., includes a project being developed by Oregon-based developer Gerding Edlen on behalf of landowner Kamehameha Schools.

That project includes 209 residential units in a 65-foot mid-rise building and 39,145 square feet of ground-floor commercial space.

“There’s already pent-up demand from the last four years, starting in 2008,” Carr said of the housing market in Hawaii. “What The Howard Hughes Corp. is offering satisfies a sector, what [Alexander & Baldwin Inc.], us and Marshall Hung are offering also satisfies a sector of the market.

“Hawaii’s got a bright future ahead of itself,” Carr said. “We have seen the cycles of the last 30-plus years. History will repeat itself. There’s a lot more confidence [these days].”

Duane Shimogawa Reporter – Pacific Business News

Developers will discuss plans for two Kakaako condo projects

Feb 12, 2014, 6:15am HST
Staff: Pacific Business News

Portland-based Gerding Edlen Development will develop a 209-unit workforce housing project adjacent to Stanford Carr Development's Keauhou Lane project on South Street in Kakaako.

Portland-based Gerding Edlen Development will develop a 209-unit workforce housing project adjacent to Stanford Carr Development’s Keauhou Lane project on South Street in Kakaako.

The Hawaii Community Development Authority has scheduled public hearings in March and April for two planned Kakaako residential projects that sit on the same parcel.

One is at 500 South St. — Hawaii developer Stanford Carr’s Keauhou Lane project — and the other is at 500 Keawe St. — Oregon-based developer Gerding Edlen’s project.

The first public hearing at 9 a.m. Wednesday, March 19, will give developers an opportunity to officially present their plans.

The second hearing, which is scheduled for 9 a.m. Wednesday, April, will give the public another opportunity to voice their opinions about the project with the possibility of the HCDA making a decision at that time.

Both hearings will take place at the HCDA’s office at 461 Cooke St. in Honolulu.

The request is for a joint development permit for two separate mixed-use residential, commercial/retail development projects being built at the same time by Carr and Gerding Edlen.

Keauhou Lane’s portion of the project includes a mix of 388 residential units, which will have one-, two- and three-bedroom units in a 400-foot high-rise building, along with a mix of 35 townhouse units that will have two- and three-bedroom units in a 42-foot mid-rise tower, as well as 2,854 square feet of ground-floor commercial space, 1,038 square feet of vehicle stalls in a 72-foot parking structure, about 13,000 square feet of open space and 31,400 square feet of recreation space.

The Gerding Edlen project, which is being developed on behalf of landowner Kamehameha Schools, includes a mix of 209 residential units that will have studio, one- and two-bedroom units in a 65-foot mid-rise building, 39,145 square feet of ground-floor commercial space, four loading stalls, about 13,600 square feet of open space and 11,500 square feet of recreation space.

Off-street parking for the project is expected to be provided in a parking podium constructed as part of the Keauhou Lane development with facilities such as loading areas, open space and recreation space being shared between both projects.

Keauhou Lane is requesting a modification from the Mauka Area Rules to increase the podium’s height to about 72 feet and cause a partial obstruction of the South Street view corridor.

Gerding Edlen is asking for a modification from the same rules to increase the podium’s height to about 65 feet

Keauhou Place – 555 South St.

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Planned Year Built: 2017
Stories: 40
Units: 600

The project, part of Kamehameha Schools’ extensive Our Kaka‘ako master plan, will be constructed at 555 South St., the parking lot where Eat the Street now takes place.

Keauhou Lane — located on the block bound by South, Halekauwila, Keawe and Pohukaina Streets — will break ground sometime in late 2014 and take appromixately 15-20 months to complete.

The neighborhood will feature walkable “complete streets” part of a new urban neighborhood vision of Kamehameha Schools. The redevelopment of the entire 9 Block neighborhood will take place over 15-20 years.

Stanford Carr will develop approximately 93,000 square feet of the property, including a 40-story tower called Keauhou Place (with 400+ residential units), as well as a parking structure for all uses on a block that will be lined with some 35 townhomes along South and Pohukaina streets. Kamehameha Schools, meanwhile, will develop about 70,000 square feet of the property, including some 150-170 live-work units and rental apartments, along with ground floor retail spaces.

“Developer Stanford and Kamehameha Schools on Friday formally announced plans for Keauhou Lane in Kakaako, a project that includes a 40-story tower consisting of 600 residential units as well as a low-rise mixed-use residential project with 200 workforce rental apartments.

The $300 million project, which will be located on the site of a surface parking lot along South Street, adjacent to Carr’s Halekauwila rental project and bounded by Halekauwila and Pohukaina streets as well as South and Keawe streets, includes a variety of housing options such as rental apartments, lofts, townhomes, a high-rise tower and live-work space and retail shops and a neighborhood grocery store.

Carr’s Stanford Carr Development would develop the 600 units in the tower, while Kamehameha Schools would develop the workforce rental apartments.

An estimated 40 percent of the housing units at Keauhou Lane will be reserved for middle-income workers. To qualify for a unit, renters may earn up to 100 percent of Honolulu’s median income and fee-simple buyers may earn up to 140 percent to qualify, Carr and Kamehameha Schools said.” Pacific Business News July 26, 2013

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