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Kakaako is in the midst of a transformation. Now, Kamehameha Schools along with Alexander & Baldwin have announced plans to build more than 400 residences, adding to the urban core and creating hundreds of construction jobs.
What’s long been filled with warehouses, industrial landscapes, and businesses is slowly turning into the urban core of Honolulu.
“A vibrant, live, work, play community,” said Kamehameha Schools vice president of Endowment Elizabeth Hokada said.
“Our Kakaako” is a mix of culture, art, community and metropolitan living. Developments are already taking shape adding residences to the area.
On Tuesday, landowner Kamehameha Schools and developer Alexander & Baldwin announced a plan to build a 43-story high rise with 466 units.
“Primarily local buyers and the reason for that will be a wide range of price points and sizes that I feel will appeal very much to the local community,” Alexander & Baldwin President Chris Benjamin said.
“The Collection” at 600 Ala Moana is a proposal to take the old CompUSA site and transform the property into 400 one, two, and three-bedroom units, a four-story mid-rise building with 50 flats/studios and 16 townhomes.
“This will be a walkable neighborhood with street scapes that function as outdoor living rooms,” Hokada said.
Units start in the high $300,000s for fee-simple, one-bedroom apartments. Three bedrooms are in the $700,000s.
Other developments in Kakaako will offer 20 percent of its residences to those looking for affordable housing.
“A broad range of residents in Kakaako. It’s not going to be a singular range of people,” Gov. Neil Abercrombie said.
The $200 million proposal has not yet been presented to the Hawaii Community Development Authority. If it gets the green light in the next couple of months, sales could begin as early as this summer.
“The construction for this project would create about 300 jobs over the roughly two-year construction timeframe,” Benjamin said.