Developers Unveil Scaled-Back Version of King’s Village Redevelopment in Waikiki
- Feb 16, 2015
The local development partnership between BlackSand Capital, Kobayashi Group and The MacNaughton Group has revised its plans for the construction of a new mixed-use condo-hotel tower at King’s Village in Waikiki.
According to the Honolulu Star-Advertiser, the developers presented an updated version of the project to the Waikiki Neighborhood Board earlier this month. Plans now call for a reduction of the building’s unit count from 256 to 248 luxury condominiums. The new design also removes a 240-foot wing in an attempt to preserve more of the neighborhood’s ocean and mountain views.
If approved, the new 350-foot, 33-story high-rise, which exceeds Waikiki’s current limit of 240 feet, would also feature a parking deck, a retail and office portion, and a small park. The development is slated to replace the King’s Village shopping center, which will be demolished, along with Prince Edward Apartments and Hale Waikiki. Black Sand purchased the property in 2012 for $41.3 million.
In exchange for exceeding the area’s height and density requirements, the development team has agreed to contribute more than $1 million in community spending, including $500,000 for Waikiki beach replenishment, support for the area’s homeless community, and other public benefits.
When it was first presented and approved by the board last spring, the project met with very little resistance. This time, however, nearby residents have expressed their opposition to the plan. Some were concerned about the fact that the upcoming tower would block most of the views for owners in the Waikiki Skytower, while others said that construction guidelines “were put in place for the good of all Waikiki.”
Nearby projects that have also exceeded Waikiki’s current height, density or setback limits include Trump Hotel Waikiki, which opened in 2009, and the two Ritz-Carlton Residences Waikiki towers currently under construction. Furthermore, Outrigger Enterprises Group is requesting an exemption for a new high-rise at the Outrigger Reef Hotel.
Photo credit: www.tripadvisor.com