Sales Under Way for OliverMcMillan’s Symphony Condominiums in Downtown Honolulu
More than half of the market-rate condominiums in OliverMcMillan’s 40-story mixed-use Symphony Honolulu high-rise have been sold, the Pacific Business News reports. Prices range from around $500,000 for a one-bedroom residence to the high $800,000s for a three-bedroom unit.
Climbing 400 feet from the heart of the city’s Kapiolani corridor, the new development will include 388 condominiums, 100 of which will be affordable. Buyers who meet income and asset requirements set by the Hawaii Community Development Authority will be able to purchase the reserved housing units at a later date. Heyer & Associates is the project’s exclusive broker.
Construction on the tower is expected to begin toward the end of the year and take about two years to complete.
Dan Nishikawa, president of OliverMcMillan Pacific Rim, told the newspaper that the location of the tower was of great significance to many buyers.
“People want to live close to their jobs so they can walk more and drive less,” he said. “Avoiding traffic congestion and long commutes gives them more quality time to enjoy with their family and friends.”
Upon completion, the new residential development at 888 Kapiolani Blvd. will offer amazing amenities, such as fitness and yoga studios, multimedia theaters, a pool and spa, a garden terrace on the seventh floor with cookout stations and barbecue cabanas, a karaoke room, a dining facility, two private guest suites for visitors and more than 1,000 parking stalls. Furthermore, expansive floor-to-ceiling windows will offer residents stunning views of the ocean and mountains.
Designed to achieve a green building status, the tower will also feature solar panels, EV charging stations, gray water reclamation, as well as an education center for energy-efficient technologies.
On the ground floor, the San Diego-based developer is also planning to open an automobile showroom for JN Automotive Group that is expected to create 100 jobs. The dealership will feature Bentley, Lamborghini, Ferrari, Maserati, Audi and Lotus vehicles.
Photo credits: www.olivermcmillan.com/symphonyhonoluluTags: Acquisitions/Dispositions, affordable housing, economy, mixed-use, multi-family, Policy, retail