California Developer MJF to Break Ground on Two Honolulu Condo Projects by Year-End
- Apr 06, 2015
Plans are moving forward for the upcoming seven-story condominium project proposed by MJF Development Corp. in the growing Honolulu neighborhood of Kakaako.
According to the Pacific Business News, the California-based developer recently purchased industrial parcels at 803 Waimanu St., 764 Kawaiahao St. and 802 Kawaiahao St., where it plans to build the new residential complex. MJF Development, led by developer Franco Mola, formed an entity called Eight Zero Three Waimanu LLC to purchase the properties, currently occupied by warehouses, for a combined $5 million.
To be called 803 Waimanu St., the planned 65-foot building will offer a mix of 153 market-priced studio, one- and two-bedroom condominiums. There will also be a mechanized ground-floor parking system with 92 spaces, the newspaper reports.
The project, approved by the Hawaii Community Development Authority about a year ago, is expected to break ground this year and be complete in 2017. An earlier plan called for the construction of a 250-foot tower with 217 workforce units, but the proposal had to be scaled back to conform to the community’s demands.
MJF Development is also planning a 180-unit affordable and workforce condominium tower on a 14,400-square-foot parcel at 929 Pumehana St. in Honolulu. Approximately 60 percent (or 108) of the new residences within the Ohana Hale high-rise will be available to households earning between 100 and 120 percent of the city’s area median income. Construction on the project — which will include studio, one- and two-bedroom units — is also scheduled to begin later this year.
Photo credit: Brian Briones via kakaako.com