By Adriana Pop, Associate Editor
The first of the three residential towers proposed by the Howard Hughes Corp. in Honolulu’s Kakaako neighborhood has been approved by the Hawaii Community Development Authority.
According to KITV.com, the Dallas-based developer is planning the construction of a 424-unit affordable high-rise at the corner of Ward Avenue and Halekauwila Street. The development of the 38-story structure at the site of the old Dixie Grill restaurant would fulfill a requirement that allows Howard Hughes to build two market-rate residential towers in Kakaako.
One of the projects will be located on a surface parking lot across from the Consolidated Theatres Ward Stadium 16, while the other will be built at the current Pier 1 Imports location diagonally across the street. Combined, the high-rises would bring a total of 500 condominiums.
“There has been a significant lack of housing delivered in the last five years–actually, the lowest levels since World War II. There is a shortage of housing on Oahu. We feel there is significant demand, and we can meet the demand with three different price points and three different projects,” Howard Hughes’ vice president of development, Nick Vanderboom, told KITV.
The three high-rises represent the initial phase of the developer’s 60-acre Ward Village community, which calls for the construction of 22 towers in Kakaako. The company has an approved master plan to build as much as 9.3 million square feet of mixed-use development, including 4,300 residential units and about 1.5 million square feet of retail and other commercial space through 2024.
Photo credits: www.avisionforward.com