Central Y Property Redevelopment Brings Condominiums, Smaller Facility
San Francisco-based MB Property Acquisitions L.L.C. is planning a new 150-unit condominium high-rise at the site of the current YMCA of Honolulu facility, as well as a smaller adjacent building that would better suit the needs of the nonprofit organization.
According to the Pacific Business News, the developer has asked the Department of Planning and Permitting to approve a zoning change that would allow for the development of a high-density apartment mixed-use tower with a height limit of 350 feet. The area’s current limit is only 150 feet.
Last year, MB Property Acquisitions purchased 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 is using the proceeds from the sale to fund the construction of its new building on the remaining land. Plans call for a three-story, 30,000-square-foot facility that will include a health-and-fitness center, a swimming pool, locker rooms and a youth center that will offer preschool, after-school and summer child care.
In order to clear the way for the new developments, the 60-year-old building at 401 Atkinson Drive will be demolished. Architects Hawaii Ltd. will design the project; Hawaiian Dredging Construction Co. will build it and Prudential Locations L.L.C. will market the condominiums. Construction is expected to be complete by 2016.
In regional news, Concierge Auctions has announced that a designer furnished a 1.33-acre estate in the Hualalai Resort on the Big Island that will sell at a live auction on March 18th. The sale will be conducted in cooperation with Hawaii Life Real Estate Brokers.
Known as “Hale Ku Mana,” or “House of Spiritual Healing,” the 10,056-square-foot custom home includes five bedrooms, four of which have ocean views, and five-and-a-half indoor/outdoor bathrooms. The property also boasts a gourmet chef’s kitchen, a butler’s kitchen with a separate entrance, a garden with native rare Hawaiian plants and privacy walls, six ponds, an outdoor grill and a stone-tiled saltwater pool with unrivaled views of the ocean and the island of Maui.