An option agreement has been implemented by A&B Properties, a division of Alexander & Baldwin (A&B) to procure a Kaka‘ako development block from Kamehameha Schools. Here, A&B will formulate the outline, pattern and design for the development of a residential condominium tower.
The initiative is a 29 ac Kaiaulu ‘o Kaka‘ako master plan for the property located within Kamehameha Schools. The plan strives to provide a diverse and reliable community, thereby serving as a representation of the long-term practice of innovation, hard work, and dedication of Kaka‘ako.
The property is on the front side of Ala Moana Boulevard, and is surrounded by South, Keawe and Auahi streets. Previously serving the Comp USA, the site is located proximal to the newly introduced 60,000 square-foot specialty retail and village center of Kamehameha. This will be promoted by Kamehameha’s planned street-level developments down the Keawe Street. The property serves the high rise residential development operations, besides serving the community by providing commercial space to execute various businesses. The pre-development initiative of A&B is an extended process, without any near-term impact on the property’s existing tenants.
Kamehameha’s previous office building at 680 Ala Moana Boulevard is currently being transformed into 54 uniquely designed, economic rental apartments. The units will be functional within this year. Furthermore, Kamehameha achieved formulating a design for a village center that will accommodate dining and community gathering services, independent specialty shops and boutiques, and other entertainment services. The center’s construction project will be initiated during 2013.
Source: http://www.alexanderbaldwin.com/