HART is commencing with the Middle Street-to-Ala Moana phase of the $8 billion, 20-mile project starting with a utilities relocation project that began recently along Kamehameha Highway between Middle Street and Puuhale Road in front of the Oahu Community Correctional Center.
The Bratton Team sold the Luana Land at Honua Kai to Ledcor in August of 2017. Since the purchasing of the property, Ledcor has named the development’s townhome project, The Luana Garden Villas. It sits on 10 acres in the Honua Kai Resort & Spa on Maui and has sold out more than half of its 72 units since launching sales earlier this year.
The project is being built in “enclaves” of multiple two-story buildings, each containing four three-bedroom units, and is the last development in the Honua Kai Resort. Units in the first enclave are scheduled to be completed in the summer of 2019. Click here to read the full article.
The wording of a new constitutional amendment on education funding is making a lot of people in Honolulu uneasy because “it fails to mention that the proposed measure could result in a tax placed on a wide range of investment property” (Stewart Yerton, Honolulu Civil Beat). Critics from the City and County of Honolulu have come up with a lawsuit asking the election officials to change the wording because it is so vague. The title is merely: “CON AMEND: Relating to Public Education and Investment Property.” We all have a chance to vote on this issue in November and it’s very important that everyone comes out to vote. This could affect many commercial properties and change the real estate landscape in Honolulu, as well as throughout the state.
As Mr. Yerton writes in his article, “Honolulu Mayor Kirk Caldwell’s administration has said that the tax would have an adverse impact on Honolulu’s real estate market since it might dissuade potential investors from investing in higher-priced properties, driving rents up higher overall.” We at The Bratton Team want to make sure even if this amendment makes it on the ballot with the current heading, we know what it could mean for the real estate market on the islands. Let’s get out there and vote in November!
Last week, the Howard Hughes Corp. broke ground on the Central Plaza at Ward Village. It will be a beautiful green space in the middle of the towers where residents and non-residents alike can enjoy outdoor movies, live music, yoga classes and more. Janis Magin writes in Pacific Business News, “The first phase of the plaza is being built with grass and native landscaping on a 1.5-acre space next to the Ward Entertainment Center that until recently was home to warehouse buildings…The park space, which was one of the requirements set by the Hawaii Community Development Authority as a condition for its development permits, is scheduled to open in January 2019. The developer did not disclose the cost of the project.” We believe this plaza and the park that they’re creating is a game changer for Ward Village. It will attract so many people to the area; both as a place to live and a place for recreation or retail. It’s also great to see that the plaza will be finished before all the towers are completed. It shows that the company is focusing on the community, the neighborhood, and its residents before thinking about themselves.
Besides the groundbreaking, Howard Hughes has generously donated $100,000 to a new fund administered by the Hawaii Community Foundation. This money will go to residents of the Big Island who have been displaced by the eruption of the volcano as well as residents of Kauai struggling from the floods in April. It’s so nice to see a company of this size give back to its own community. Besides just giving money, they’re creating a space for the residents and visitors of Oahu to enjoy. We can’t wait to see their progress on this project!
Last week, Hawaii News Now reported that airlines are adding over a million seats on flights to Hawaii in the month of May. This means more potential for tourism and growth in the economy. It’s a great indicator that there is a lot more business to come over the summer months and could be profitable for many businesses and industries. They reported that most of the seats will be for neighboring island flights, which continues trends in business that we’ve noticed over the last year. There is a lot of potential for growth and new developments on the neighboring islands, something that these airlines are noticing as well. We are very excited about this growth and the potential boost for our islands’ economies. Let us know your thoughts in the comments!