Castle & Cooke, Kamehameha Schools reveal development plan for Kakaako

By Catherine Cruz
Published On: Feb 26 2014 06:21:37 PM HST
Updated On: Feb 26 2014 09:01:12 PM HST

Kamehameha Schools and Castle and Cooke plan to transform the Diamond Head side of Waterfront Towers.

HONOLULU -

 The latest buildup will displace J's BBQ which has been at the corner of Keawe and Auahi streets for 30 years.

Click here to watch Catherine Cruz' story.

It got the letter along with other businesses yesterday to vacate by August.

And the non-profit Alu Like offices will have to make way for retail space under the mixed-use plans.

New renderings show how Kamehameha Schools &  Castle and Cooke plan to transform the area with two mid-rise projects.

400 Keawe will offer 95 condominium units.

The lion's share will be market priced homes-75, to be exact while the remaining 20 will be reserve units.

Expect the one , two and three bedroom units to carry price tags in the range of  just under $400,000 to  about $750,000. 

"In doing our market research, we found that these are the kinds of units for our local residents they wanted to see," said Bruce Barrett of Castle & Cooke Homes Hawaii.

 But don’t expect a lot of amenities.

"We will not be putting in project amenities like a swimming pool because we want to keep our maintenance fees as low as possible," Barrett said.

Kamehameha Schools will develop a second six- story complex that will be 88 rental units.

The studio, one, two and three bedroom apartment will be marketed to middle-income families.

Plans also call for a landscaped plaza and dog run and a place to park bicycles.

The project will offer some relief to the planned high rises in the adjoining blocks.

"We have low rise elements so that the tower is not the predominant feature within this community, but that the pedestrian experience gets elevated and accentuated," said Kamehameha Schools Real Estate Director Paul Quintilliani.

The addition of more families to the area will put pressure on public elementary schools

but the Department of Education has yet to impose impact fees in the area.

Officials say they are planning to roll out a plan tied to development around nine transit stations in the urban area.

"The school issues and our conversations with the DOE is evidence tof how we are also going to make sure there is adequate school capacity here. That is something that is important to our organization," Qunitilliani said.

The 400 Keawe project marks Castle & Cooke’s first foray into this area but the company said it is eyeing other development possibilities around rail.

The timeline for the $60 million project is groundbreaking later this year, with completion set for 2016.

 

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