Authority to Review OliverMcMillan’s $200M Kakaako Tower
- Mar 10, 2012
by Adriana Pop, Associate Editor
The Hawaii Community Development Authority has scheduled a public hearing to discuss the orientation of OliverMcMillan’s 40-story Symphony tower in Kakaako.
The $200-million, 407-unit, mixed-use condominium high-rise will be located at the corner of Kapiolani Boulevard and Ward Avenue in Honolulu.
The San Diego-based developer filed for an exemption from new rules intended to diminish the amount of mountain and ocean views blocked by new construction. According to the Pacific Business News, OliverMcMillan intends to build the 400-foot tower with the long side facing Kapiolani Boulevard, instead of facing Ward Avenue, as the rules require.
Lower-level floors will include showrooms and a service center for JN Automotive Group founder Joe Nicolai’s exotic car dealerships. Plans also call for a mix of restaurant and retail space at the bottom of the high-rise and residential condominiums on the upper levels, the newspaper reports. The Symphony project is expected to break ground next year and create between 300 and 400 jobs.
In other news, the redevelopment of the former boat repair yard and fuel dock at the Ala Wai Small Boat Harbor in Waikiki has been enlarged. The state of Hawaii selected Japan-based developer Honey Bee USA Inc. to lease and upgrade two harbor parcels covering more than 50,000 square feet at the entrance to Waikiki.
According to the draft environmental assessment of 2010, a $9.7 million investment called for the development of two wedding chapels, a boat repair facility, as well as retail and office space. The extended project involves the development of additional retail, restaurant and boat repair space and a total investment of $20 million.
Honey Bee USA Inc. is led by Hideaki Shimakura. Keith Kiuchi, Honey Bee USA’s Honolulu attorney, says the Ala Wai project is Shimakura’s first venture in Hawaii.