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May. 28, 2013

First Phase of Ward Village to Bring More Than 900 Condominiums Downtown

By Adriana Pop, Associate Editor

Three condominium high-rises are slated to break ground in Kakaako as part of Howard Hughes Corp.’s Ward Village master plan.

According to the Pacific Business News, the new buildings will add more than 900 residential units. Two of the towers will feature market-rate residences, while the third will include mostly affordable condominiums.

One of the market-rate high-rises will be located on a surface parking lot across from the Consolidated Theatres Ward Stadium 16, while the other will be built at the current Pier 1 Imports location across the street. Combined, the projects will include a total of 500 condominiums.

The third building will rise at 404 Ward Ave., across from Sports Authority. Plans call for 415 units, 375 of which will be affordable, as well as commercial space, parking and approximately 25,500 square feet of recreation space.

Pending further approvals from the Hawaii Community Development Authority, construction on the three residential towers could begin early next year and be complete by 2016. The Dallas-based developer estimates that the project will have an economic impact of $1.3 billion, create 9,000 direct and indirect jobs and add more than 1.5 million square feet of space.

The three high-rises represent the initial phase of the long-term Ward Village master plan, which calls for 22 towers in Kakaako.

The Howard Hughes Corp. acquired the 60-acre Ward Centers property in 2010 from General Growth Properties. The company has an approved master plan to build as much as 9.3 million square feet of mixed-use development, including 4,300 residential units and about 1.5 million square feet of retail and other commercial space through 2024.

Photo credits: www.avisionforward.com

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