OliverMcMillan has purchased the little more than three-acre parcel across from the Neal S. Blaisdell Center where the San Diego-based developer is currently building the Symphony Honolulu luxury condominium tower, according to public records.
OliverMcMillan, which formed Honolulu-based OliverMcMillan Pacific Rim LLC, paid JN Group Inc. and Casti Family LP $26 million for the property at 888 Kapiolani Blvd. The sale closed on July 30.
The 388-unit, 45-story Symphony Honolulu project, which is under construction at the corner of Ward Avenue and Kapiolani Boulevard and is expected to be completed in less than a year, gained headlines recently regarding an issue dealing with its glass windows.
The Hawaii Community Development Authority, which regulates development in the Honolulu neighborhood of Kakaako, is deciding whether to waive, permanently suspend, or uphold the area’s existing glass rule as it pertains to the Symphony project.
Symphony is being built with a visible light transmission level of less than 50 percent. The project’s development permit was approved for the current glass that is being installed, although the HCDA did not take into account the area’s glass rule.
The developer said that the implementation of the glass rule has resulted in an unfortunate set of circumstances preventing development projects from satisfying HCDA-mandated minimum energy savings under the current set of rules.
The HCDA, which has delayed making a final decision on the issue three times, has set a decision-making hearing for Sept. 16 at 1 p.m.
Symphony will include commercial space on its lower floors, including an automobile showroom for JN Automotive Group.
Duane Shimogawa
Reporter
Pacific Business News