An innovative new residential community, including a high-rise tower, a mid-rise building, town homes and retail shops and restaurants, will be coming to Kaka’ako, as part of an overall master plan to revitalize and redevelop the area.
The $200-million project, called The Collection, was announced Tuesday at a press conference organized by developer A&B Properties (a subsidiary of Alexander & Baldwin) and landowner Kamehameha Schools. The Collection will likely break ground next year at 600 Ala Moana Boulevard (between Keawe and South streets), the site of the former CompUSA.
Condo sales will begin in early summer, with prices in the 43-story high-rise tower starting in the high $300,000s for one-bedroom units, mid-$500,000s for two bedrooms, and the mid-$700,000s for three bedrooms. Four hundred units are planned for the high-rise, while the four-story mid-rise building will include 50 flats (primarily studios). There also will be 16 two- and three-bedroom town homes, all with private garages. Local buyers are the target market.
The project is part of Kamehameha Schools’ 15-year Our Kaka’ako master plan to transform the community into an innovative urban hub, a vision fully supported by Gov. Neil Abercrombie, who spoke at the press event. “Believe me, there’s going to be a transformation in the urban landscape,” he said. “…And I pledge to one and all today that the Abercrombie administration is going to see to it that this vision of a new urban culture on Oahu and in the urban core is one that’s going to come into fruition as rapidly as it can come about.”
There’s no definite date yet as to when the units will be built, with construction typically taking 24 to 30 months. For more information, visit TheCollectionHonolulu.com
The press conference took place at Kamehameha Schools’ new Information Center (at 660 Ala Moana Boulevard; along Keawe Street near The Whole Ox). The info center will be open to the public Monday through Friday from 11 a.m. to 2 p.m., and will be a place anyone can come to learn more about Our Kaka’ako projects.