Condominium Project to Break Ground in Waikiki

By Liviu Oltean, Associate Editor Kaioo Drive will be home to a new condominium project, the Cove Waikiki. The project, which will break ground in March 2012, has been in the design phase for over three years. According to Pacific Business News, the complex [...]

Kaioo Drive will be home to a new condominium project, the Cove Waikiki. The project, which will break ground in March 2012, has been in the design phase for over three years.

According to Pacific Business News, the complex will occupy a 1.6-acre parcel and will be developed by Waikiki Palms LP, an affiliate of Form Partners LLC. Richard Matsunaga & Associates is the architect for the project, while Philpotts & Associates will handle the design. The Cove Waikiki will feature 117 one- and two-bedroom units across three five-story buildings.

Chris Deuchar, managing partner with Form Partners, has developed the Vanguard Lofts in Honolulu, located in the former National Cash Register building.

In addition, Form Partners has been selected as a development consultant for the Kamehameha Drive-In property in Aiea, a mixed-use project that entails 1,500 residential units and about 220,000 square feet of commercial space. Waikiki Palms LP expects to complete the project in late 2013. The starting price for a unit is about $350,000.

In regional news, the Nanakuli Village Shopping Center will be anchored by Longs Drug Stores. The shopping center will feature about 75,000-square-feet of retail space and is expected to break ground next year, Pacific Business News reports.

Steve Sofos, president and CEO of Sofos Realty Corp., the company that will manage the center, added that the Longs Drug Stores will occupy 15,000 to 22,000 square feet. The developer of the project is the Nanakuli Hawaiian Homestead Community Association, which will put out a bid for a general contractor.