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Apr. 15, 2013

A&B Properties Launches New Residential Community in Kakaako

By Adriana Pop, Associate Editor

A&B Properties and landowner Kamehameha Schools have announced plans to develop a mixed-use residential community at 600 Ala Moana Blvd., formerly occupied by CompUSA, in downtown Honolulu. The Pacific Business News reports that the $200 million investment will result in more than 460 condominiums.

Called The Collection, the project will feature a high-rise condominium tower, a mid-rise building, townhomes, as well as retail shops and restaurants. Prices for the residences will be in the $300,000 range for one-bedroom units, mid-$500,000s for two-bedroom units and mid-$700,000s for three-bedroom units.

The 43-story high-rise will feature 400 one-, two- and three-bedroom residences with ocean views. Amenities will include a pool, an outdoor lounge, a fitness center, a clubroom, as well as a private dog park within the tower. The four-story mid-rise building will offer about 50 flats, primarily studios and a select number of one- and two-bedroom residences. Furthermore, the project will include 16 two- and three-bedroom townhomes with individual garages.

“A&B Properties is excited to expand its role in the rapid transformation of Kakaako with this newest redevelopment project, The Collection—an entire community within an urban neighborhood,” said Chris Benjamin, A&B president & COO. “The homes are specifically designed and priced to appeal to a range of local buyers, creating a true neighborhood in the heart of Honolulu.”

In other news, California-based MJF Development Corp. is planning the construction of a 20-story, 217-unit workforce condominium tower, also to be located in Honolulu’s Kakaako neighborhood.

According to the Pacific Business News, the new high-rise will replace several single-story industrial buildings at 803 Waimanu St. The project will include 245 parking stalls and a convenience store on the ground floor.

HCDA Director of Planning and Development Deekpak Neupane told the newspaper that upon completion, the tower will offer studio, one-bedroom and two-bedroom affordable condominiums. The price for a two-bedroom unit will be around $350,000.

The HCDA will review the proposal on May 1 and come up with a decision by June 5. Franco Mola, president of MJF Development, expects to begin construction toward the beginning of next year and complete the project in two years.

Photo credits: A&B Properties