Pacrep to Revise Design for Ritz-Carlton Hotel Condo in Waikiki
- Apr 01, 2013
The Honolulu Department of Planning and Permitting has granted conditional approval to the proposed $275 million Ritz-Carlton condominium hotel project in Waikiki. The Pacific Business News reports that before construction can begin, California developer Pacrep L.L.C. will need to revise the design of the 37-story tower known as 2121 Kuhio in order to reduce its apparent mass. The company has also been asked to consider an expansion of the commercial space planned for the building’s ground floor and redesign the entry along Kuhio Avenue.
In an attempt to mitigate the visual impact of the high-rise on the shoreline, Pacrep has already reduced the initial width of the project by 48 feet and added three additional floors. Earlier this year, the Honolulu City Council approved a height variance for the proposed 350-foot tower, which at this point exceeds the site’s standard limit by 50 feet.
Also known as the Ritz-Carlton Residences Waikiki Beach, the new development will feature 459 luxury condominium-hotel units with expansive ocean views. The Ritz-Carlton Hotel L.L.C. will brand and manage the residences, which will range in size from 400 to more than 3,000 square feet. Amenities will include resort pools, a spa, a fitness center, an owners’ lounge and storage, a gourmet food market, along with a cafe and restaurant.
Early in 2012, Pacrep purchased the vacant 1.4-acre project site at the corner of Kuhio Avenue and Kalaimoku Street for $15.5 million. The company expects to begin construction this year. Upon completion in 2016, the Ritz-Carlton Residences Waikiki Beach will be the area’s first new luxury condominium property since Trump International Hotel Waikiki Beach Walk opened in 2009.
According to the final environmental assessment, Pacrep plans to sell the units for more than $300 million. The prices of the condominiums range from $500,000 for a studio to over $15 million for a top-floor penthouse.
Photo credits: PACREP L.L.C.