ALA MOANA PLAZA
According to Pacific Business News, Brookfield Properties, which recently broke ground on a rental apartment building in Waikiki, “wants to replicate that project with a 550-unit tower on a corner of its 50-acre Ala Moana Center property”.
According to PBN, the plan is for a mix of 550 studios, one-, two- and three-bedroom units in a 400-foot tower.
The developer plans to make 20% of the Ala Moana Tower units, or about 110 apartments, affordable for tenants making no more than 80% of the area median income, PBN reports said. The remainder of the units would be market priced.
For now, Brookfield is focusing on the site of Ala Moana Plaza, a 30-year-old single-story strip center at the corner of Piikoi and Kona streets whose tenants include Nijiya Market, Eggs N’ Things, Taiyo Ramen, Cho Dang Restaurant and Jq Hawaii Inc.
(Ala Moana Plaza, a 30-year-old single-story strip center at the corner of Piikoi and Kona streets.)
The plan is to replicate what Brookfield is doing with its Lilia Waikiki project, which recently broke ground — a tower with market-rate and affordable rental units.
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While the plan is for the building to have parking, it will also be able to tie in with the parking structure on the Kona Street side of Ala Moana Center that was built during the Ewa Wing expansion.
The project is very much in a planning stage, but if all goes well, the developer hopes to start construction two years from now.
Information originally published at “Brookfield plans 550-unit rental tower at Ala Moana Center”, Pacific Business News, October 11, 2019
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