A skyscraper hundreds of feet higher than Hawaii’s current tallest building could be coming to Kakaako.
It’s part of a state transit-oriented development plan that would increase density through height, and would provide affordable housing for rent and purchase.
A state-owned block in Kakaako will be the site of a public-private partnership to develop more than 200 affordable rentals, 300 affordable condos and 500 market-priced units, with the rentals breaking ground next year.
Honolulu’s rail is planned to pass nearby.
"Do transit oriented development before there is transit, not wait for transit and then try to figure out what kind of development you’re going to have, so the phrase I like to use in this is transit ready development," said Gov. Neil Abercrombie.
690 Pohukaina is currently the address of the Friends of the Library Hawaii filled with books, but many more stories will fill this block. The new height allows a 650 foot tower — around 60 stories, far taller than anything else in Hawaii. The Hawaii Community Development Authority voted on new transit-oriented development rules to allow the height and density.
"This will be a signature development in Hawaii," said HCDA’s Anthony Ching."You will have unobstructed views, and that you clearly are a one of a kind situation."
The suggested positioning of the market-rate condo tower is supposed to work in tandem with current sightlines.
"As a resident in Kakaako, Keola Lai, I live on the 28th floor and when I took a serious look at this, it doesn’t block our view," said the governor’s Chief of Staff Bruce Coppa.
The state will provide the land, while private developers will build it out. The library nonprofit will still have a home in the new block. An area small businessman expressed concerns about the transit-oriented rules saying the higher density could backfire on smaller landowners.
"Because of the fact that you’re small you can’t use the density, all that happens is the city based on best use the city will increase the valuation of property and increase your property taxes," said Kakaako business owner Dexter Okada.
The HCDA says its transit oriented overlay will still allow for the character of the surrounding area to remain.
"Please be assured that areas such as Sheridan Tract and central Kakaako in particular will not be affected by transit oriented development," Ching says.
Rentals will go for about $900 a month up to $1,370 a month, ready by the year 2015. Today’s HUD affordable threshold for condos would sell for $350,000, that will be different by the time that project wraps up in 2019.
See the original article at: KHON2 Local News
