Developer Plans Large Mixed-Use Community in Downtown Kihei on Maui
The Krausz Cos. is planning a 320,000-square-foot sustainable, mixed-use project in the city of Kihei, one of Maui’s most populated communities.
According to the Pacific Business News, the proposed Downtown Kihei project calls for a village square; more than 200,000 square feet of office, medical office, retail and restaurant space; a 44,180-square-foot movie theater; a four-story, 150-room hotel; and more than 1,000 parking stalls.
The new development will be built between the Piilani Village Shopping Center and the Longs and Azeka’s centers, on four parcels of land totaling 27 acres. The San Francisco-based developer has purchased the property for approximately $10 million, the newspaper reports. The Krausz Cos. is now in the process of entitling the land. The company also owns the Safeway-anchored Piilani Village Shopping Center, which it acquired in 2003 for $27 million.
In other news, the Hawaii Community Development Authority has asked developers Lend Lease and Forest City Enterprises Inc. to post online elements of their proposals for the 690 Pohukaina project in Honolulu. According to the Honolulu Star-Advertiser, the developers will present their bids to the board on Nov. 20. A vote is expected in December.
The $500 million project will include the construction of two residential towers in Kakaako. One of the buildings will include 300 affordable for-sale units, while the second structure will offer 500 market-price units. Plans also call for a commercial and civic building, a parking structure, a business innovation incubation space and offices for the state’s library system and Friends of the Library.
Construction on the project could start in 2015 or 2016, with completion scheduled for the summer of 2019. The state agency estimates that 690 Pohukaina will create 500 construction jobs and as many as 1,000 indirect jobs.
Photo credits: The Krausz Cos.Tags: affordable housing, Development, economy, leasing, mixed-use, Policy, property management, retail