Oct 2, 2013, 2:52pm HST Updated: Oct 2, 2013, 4:22pm HST
Duane Shimogawa | Reporter- Pacific Business News
The head of The Howard Hughes Corp., one of the bigger private developers of Honolulu’s Kakaako neighborhood, said Wednesday that the company is determining what the best and right mix is for its second phase of its $7.5 billion Ward Village master plan.
“Some will be dependent on retail tenants,” said David Weinreb, CEO of the Dallas-based developer. “There will be a feeling of a community and of a village.”
Weinreb, who was in Waikiki for Hawaii Business Magazine’s event honoring the top 250 businesses in Hawaii. presented by First Hawaiian Bank, spoke to a small group of Honolulu media members after the event and made it known that although there are a number of areas to develop in Hawaii, his firm is solely focused on Kakaako and committed to Honolulu.
“[We plan on] building a base here to go beyond us,” he said.
Weinreb, who comes to Hawaii every three to four weeks, even intends on purchasing one of the more than 4,000 units planned in its Ward Village master plan.
In August, the Howard Hughes Corp. (NYSE: HHC) got the green light from the Hawaii Community Development Authority, the state agency charged with overseeing the redevelopment of Kakaako, for two of its mixed-use condominium towers at Ward Village, the first phase of its master plan for the area.
This first phase includes 900 residential units as well as a mostly affordable residential tower at 404 Ward Ave., which also received HCDA approval.
Sales for the first phase of the Ward Village residential projects will be starting soon.