By Adriana Pop, Associate Editor
The Hawaii Community Development Authority will officially unveil the 803 Waimanu St. condominium project in Kakaako in November. According to the Pacific Business News, California-based real estate developer Franco Mola is proposing the construction of a 65-foot, seven-story building with 153 market-priced residences, 30 of which will be slated for reserved housing. Plans also call for 8,477 square feet of recreation space and ground-floor parking for 92 vehicles.
The original project, which proposed the construction of a 250-foot tower with 217 workforce units, was withdrawn in July. A final decision on the scaled-back version of the development is expected in January.
In other news, the Pacific Business News reports that an affiliate of New York-based real estate investment trust Kimco Realty Corp. has sold the 17,897-square-foot Kihei Shopping Center on Maui for $7.2 million. Joseph Leonardo, of Honolulu-based real estate firm Joseph C. Leonardo & Co., represented the buyer in the transaction.
The Longs Drugs-anchored retail center is located at 1215 S. Kihei Road. The property also includes Rent-A-Center, Birkenstock, Boss Frogs, Maui Brick Oven Pizza and Maui Dry Cleaners among its 15 tenants. The sale did not include the Longs/CVS building and undeveloped land, Leonardo told the newspaper.
Photo credits: haydenbusinessblog.blogspot