California Developer Celebrates Groundbreaking of Second Ritz-Carlton Condo-Hotel in Waikiki
- Mar 17, 2015
By Adriana Pop, Associate Editor
Construction has begun on the second Ritz-Carlton Residences, Waikiki Beach condo-hotel building in Honolulu.
According to the Pacific Business News, community and business leaders recently joined the project’s development team for a groundbreaking ceremony. Meanwhile, construction on the first 324-unit, 37-story “West” tower at 2121 Kuhio Ave. next door is advancing, with completion set for early 2016.
Both towers are being built by Pacrep LLC, which was formed by Irongate, the developer of the Trump International Hotel & Tower at Waikiki Beach Walk and the Watermark Waikiki.
The upcoming 37-story “East” building will be located right next to the company’s first Honolulu project and will offer 246 luxury condominium-hotel units by the time it is complete in 2017.
Designed by New York-based Guerin Glass & Associates, the new high-rises will be connected by an eighth-floor resort terrace. Amenities will include resort pools, a spa, a fitness center, an owners’ lounge and storage, while the commercial component will feature Hawaii’s first Dean & Deluca, BLT Market, Sushi Sho and a yet-to-be-announced grocery.
Other partners in the development include local company Brett Hill Construction Inc. as project manager, Honolulu-based Albert C. Kobayashi Inc. as general contractor and California-based Jon Brent Design as interior designer.
So far, most of the units within the first tower have been sold, especially to buyers from Japan, the Mainland and other parts of Asia. Lance Wilhelm, Irongate managing principal, told the newspaper that the remaining studio, one-, two- and three-bedroom units are priced between $998,800 and $3.5 million, while penthouse units cost from $6.8 million to $25 million.
When it opens, the two-tower condo-hotel complex will be the first Ritz-Carlton-branded property on Oahu. Other such projects in Hawaii are located on Maui and the Big Island.
Photo credits: Guerin Glass & Associates