Honolulu real estate company Alexander & Baldwin Inc. announced plans to develop the former CompUSA site on Ala Moana Boulevard into a condo tower complex called The Collection, which will also include retail shops and restaurants. It’s one of three development projects on Kamehameha Schools Our Kakaako master plan. A third project will to be announced Friday.
Alexander & Baldwin is reporting that most of the units in The Collection residential condominium tower and mid-rise building, now being built on the site of the former CompUSA store in Honolulu, have been sold.
The Honolulu-based company, in its earnings report released on Thursday, noted that about 98 percent of the project’s 451 tower and mid-rise units “have been sold under binding contracts.”
The 43-story condominium project, located at 600 Ala Moana Blvd. in Kakaako, includes 397 one-, two-, and three-bedroom units that are adjacent to a 4-story building that houses 54 loft-style studios, two-bedroom and three-bedroom units.
Construction on the $200 million project began in October, when Alexander & Baldwin closed on the purchase of the three-acre site from Kamehameha Schools, and is slated to be complete by late 2016.
Meanwhile, sales for the project’s 14 three-bedroom townhomes along South and Auahi streets began last month.
Darin Moriki
Reporter
Pacific Business News