Hawaii developer Stanford Carr’s Keauhou Lane Kakaako mixed-use residential project should begin construction in August, the developer said Thursday at an industry event in Waikiki.
Last month, Carr told PBN that the project, which is located on the bloack at 500 South St. and 500 Keawe St. and includes 388 residential units in a 400-foot tower, along with 35 townhome units in a 42-foot mid-rise tower, would start construction in July.
Carr, a panelist at the International Council of Shopping Centers Hawaii Idea Exchange event, gave a presentation about Keauhou Lane.
“Let’s create and define transit-oriented development and mixed-use,” said Carr, noting that a rail transit station will be integrated into the development.
Carr told PBN that his firm, Stanford Carr Development, is near to closing on the project’s construction loan and that it should get its foundation building permit soon.
So far, he said, sales have been good for the project.
Keauhou Lane also includes another project being developed by Oregon’s Gerding Edlen on behalf of landowner Kamehameha Schools.
This project includes 209 residential units in a 65-foot mid-rise building and 39,145-square-feet of ground-floor commercial space.
Both projects are expected to be completed in 2017.
Keauhou Lane is located near Carr’s recently completed Halekauwila Place rental project, which mostly has local occupants, according to Carr, who also pointed out that both the residential and commercial units of the project are 100-percent leased.
Halekauwila Place’s commercial tenants include Uproll Cafe, Kakaako Wine & Sake Collection, a convenience store, hair salon and a soft drink store.
Duane Shimogawa
Reporter
Pacific Business News