The Honolulu developers of the $300 million Park Lane Ala Moana project, a row of seven ultra-luxury, condominium towers planned for what is now a parking area at Ala Moana Center held a ground blessing on Wednesday morning and plan to start construction within a couple of months, an executive from the development team told PBN.
Kathy Inouye, partner and chief operating officer of the Kobayashi Group LLC, which is developing the low-rise project along with The MacNaughton Group, BlackSand Capital and landowner General Growth Properties (NYSE: GGP), said prices for the 215 units in the project haven’t been established.
“[The ground blessing] is something that we like to do to thank the different [partners] we are working with, [including] the contractor that’s working on the site,” she said.
Located at 1488 Ala Moana Blvd., the 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.
Park Lane Ala Moana, which will be built adjacent to the Bloomingdale’s department store under construction at the state’s largest shopping mall that is undergoing a major redevelopment of its Ewa Wing, was first reported by PBN.
The project is scheduled to be completed in 2016.
Duane Shimogawa Reporter – Pacific Business News