A local development partnership between BlackSand Capital, Kobayashi Group and The MacNaughton Group is planning the construction of a new mixed-use high-rise in Waikiki, on a site currently occupied by the King’s Village retail complex. Black Sand purchased the property in 2012 for $41.25 million.
According to the Star-Advertiser, plans call for a multilevel building, with heights ranging from Waikiki’s current limit of 240 to 350 feet. If approved, the project would bring a 256-unit condominium hotel, a parking deck, a retail and office center and a small park.
In order to clear the site for the new development, the King’s Village shopping center will be demolished, along with Prince Edward Apartments and Hale Waikiki.
In exchange for exceeding the area’s height and density requirements, the developers have agreed to contribute more than $1 million in community spending, including $500,000 for Waikiki beach replenishment, support for the area’s homeless community, operation of Waikiki public bathrooms after 10 p.m., construction of Americans with Disabilities Act improvements at Waikiki Community Center, and the development and maintenance of a “pocket park” on Prince Edward Street.
An environmental assessment for the project will be filed in the coming months, Elton Wong, vice president of Kobayashi Group, told the newspaper. The developers expect to break ground by 2016, once entitlements, design and permitting are in place.
In other news, the Pacific Business News reports that construction has begun on The Plaza at Waikiki, a 152-unit seniors housing project at 1812 Kalakaua Ave. in downtown Honolulu.
Developed by The Plaza Assisted Living, the community will offer specialized levels of care from independent living to assisted living, memory care for residents with dementia and short-term services. Construction is scheduled for completion by the end of 2015.
MW Group, the builder of the complex, is also the owner of the site, which it acquired for $3.5 million from PBS Hawaii.
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