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Senior Living High-Rise in Honolulu Nears Completion

27 Aug 2015, 6:05 pm

By Adriana Pop, Associate Editor

Kalakaua Garden, the 17-floor senior living community currently rising near Ala Moana Center at the entrance to Waikiki, is set to open its doors to tenants in March.

Kalakaua Gardens in Honolulu

Kalakaua Gardens in Honolulu

The $75 million project will be managed by Avalon Healthcare, a group that also runs Avalon Care Center and Hale Nani Rehabilitation and Nursing Center, both of which are located in Honolulu, as well as Yukio Okutsu State Veterans Home in Hilo.

Island Paradise Investments of San Francisco is developing the high-rise at 1723 Kalakaua Ave., across the street from the Convention Center. According to the Pacific Business News, the community will bring 164 independent and assisted living units, 49 skilled nursing beds and 23 memory care beds. Construction on the project began last fall.

By the time it opens, the facility will create between 150 and 200 jobs, including 20 management level positions, 80 in-care positions and 60 positions in dining, housekeeping and support staff.

What is special about this community is the fact that the skilled nursing component will be valuable for seniors when they need rehabilitation and occupational therapy in-house.

“In this setting, they’ll be able to go into skilled nursing, get the care they need, and go right back up to the floor they came from,” Kalakaua Gardens General Manager Steve Nawahine told the newspaper.

Furthermore, residents here will be able to enjoy family-style (ohana) living. According to Nawahine, “when elevators open you don’t see hallways, you see living and dining rooms where people are encouraged to live and be social with one another.”

The facility’s designer is Architects Hawaii Ltd., with San Francisco-based Swinerton Builders as the general contractor. Locally based Philpotts Interiors is in charge with interior design.

 



Chicago Investor Buys Maui Shopping Center for $342M

20 Aug 2015, 6:54 pm

By Adriana Pop, Associate Editor

The Shops at Wailea at the Wailea Resort in Maui, Hawaii recently changed hands.

The Shops at Wailea

The Shops at Wailea

Chicago investment management firm Heitman Capital Management LLC acquired the 161,626-square-foot property for $342 million, according to the Pacific Business News. The seller was Bill Mills, chairman of Honolulu-based The Mills Group.

JLL, formerly Jones Lang LaSalle, and Leslie Brown Associates will now handle management and leasing for The Shops at Wailea.

Kirk Horiuchi, senior vice president and Hawaii retail market lead for JLL, will head the property’s management assignments while retail leasing veteran Leslie Brown, who owns the eponymous firm, will be in charge of leasing activities.

Open since 2000, the center at 3750 Wailea Alanui Drive features more than 70 shops and restaurants, including Banana Republic, Tori Richard, Tommy Bahama, Quiksilver, Tiffany & Co., Louis Vuitton, Gucci, Honolulu Cookie Co., Martin & MacArthur, ABC Stores, Honolulu Coffee Co., Ruth’s Chris Steak House, Longhi’s, and the state’s first Tommy Bahama Restaurant & Bar.

This is the second purchase of a shopping center on Maui this summer. In July, California developer Burnham USA acquired the Shops on the Green in Wailea for $11 million, with plans to double the retail and office center’s size to 45,000 square feet.

Photo credits: Wailea Association



More Good News for Hawaii’s Kupuna

20 Aug 2015, 2:07 pm

By Adriana Pop, Associate Editor

Plaza Assisted Living is about to open its first senior living community in Waikiki, Hawaii, Honolulu’s renowned beachfront neighborhood.

Plaza Assisted Living Waikiki

Plaza Assisted Living Waikiki

Located at 1812 Kalakaua Ave., along the Ala Wai Canal, the eight-floor facility offers 85 independent living apartments, 35 assisted living apartments, and 33 memory care apartments.

According to the Pacific Business News, the property known as Plaza Assisted Living Waikiki will be ready for move-in by October. Colby Takeda, the building’s administrator, told the newspaper that almost half of the units have already been reserved.

Future residents may choose from a mix of studios, one-bedroom apartments and companion suites ranging in size from 320 to 480 square feet. Rents for independent living studios start at $4,500 per month.

By the time it opens, the new community will have 90 full- and part-time staff, and eight managers. Amenities include a fitness room for physical and occupational therapy, a hair salon, a movie/TV screening room, dining rooms, activity rooms, living areas for families and visitors, pharmacy delivery service, laundry facilities, computer and WiFi Access, as well as two levels of parking. The pet-friendly property will also allow dogs that are medium-sized or smaller.

Developer MW Group, Ltd. broke ground on the project in April 2014, under the direction of Wattenbarger Architects. The company also owns the site of its new development, which it bought from PBS Hawaii for $3.5 million. MW Group is now planning to begin construction on another Plaza Assisted Living facility in Kaneohe early next year.

Photo credits: mwgroup.com



California Developer Builds Condos in Hawaii

6 Aug 2015, 11:08 am

By Adriana Pop, Associate Editor

Construction on the “Aloha Kai” condominium high-rise in downtown Honolulu is set to begin by early 2016.

Aloha Kai in Honolulu

Aloha Kai Condominiums in Honolulu

According to the Pacific Business NewsMB Property Acquisitions LLC has partnered with Japanese firm Tama Home to build the 117-unit, 37-story project at the site of the YMCA of Honolulu Central branch on Atkinson Drive. Demolition of the current building is scheduled to begin in about five months.

Michael Blumenthal, president of MB Property Acquisitions, told the newspaper that the new development will also include a new 30,000-square-foot YMCA Central branch with no residential units, a swimming pool and a sophisticated aqua facility that will cater to seniors.

In 2012, the San Francisco-based developer announced its purchase of approximately 1.5 acres of the YMCA’s nearly 1.8-acre lot across from Ala Moana Center for an undisclosed amount. The non-profit will use the proceeds from the sale, which is expected to close in about three months, to fund the construction of its new building on the remaining land.

The upcoming Aloha Kai condo tower will encompass about 150,000-square-feet of net saleable square footage, with about four units per floor. The pricing range of the new units is still being determined, and will probably be around $1,400 per square foot—this translates into approximately $840,000 for a one-bedroom condominium of about 600 square feet.

All units will feature lanais that overlook the ocean, and there will also be a pool on the building’s rooftop. Architects Hawaii Ltd., Swinerton Builders and Locations LLC are also working on the project, which is set for completion in about two years.

Rendering via MB Property Acquisitions



Diamond Resorts Sparkles in Hawaii

3 Aug 2015, 11:28 am

By Adriana Pop, Associate Editor

A new resort destination could soon rise in Kailua-Kona on Hawaii’s Big Island.

Las Vegas-based Diamond Resorts International, Inc. has recently entered into an agreement with an affiliate of Och-Ziff Real Estate for the development of the 144-key property.

Kailua-Kona from Holualoa

View of Kailua-Kona from Holualoa

The project will be completed in phases, with the first units scheduled for delivery in the first quarter of 2017. The start of construction is subject to certain conditions precedent and rights of Och-Ziff Real Estate, including completion of due diligence, design and site plans, and obtaining required permits.

According to David Palmer, president & CEO of Diamond Resorts, the completion of this project will provide his company inventory to support more than $400 million in investment sales.

Diamond Resorts manages vacation ownership resorts and has a network of more than 330 vacation destinations in 34 countries throughout the continental United States, Hawaii, Canada, Mexico, the Caribbean, South America, Central America, Europe, Asia, Australasia and Africa.

Och-Ziff Capital Management, headed up by billionaire Daniel Och, is one of the largest institutional alternative asset managers in the world with about $46.8 billion in assets under management as of July 1.

Photo credits: Travis Thurston via Wikimedia Commons







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