Lottery to start sales for half of 466 condo units in Howard Hughes’ Aeo project

aeo_wholefoodsLottery to start sales for half of 466 condo units in Howard Hughes’ Aeo project

The Howard Hughes Corp. is opening sales for its third Honolulu condominium tower in its Ward Village master plan, Aeo at 1001 Queen Street, this weekend with 234 of the building’s total 466 units being offered to owner-occupants in a public lottery.

The building, which is being designed by Bohlin Cywinski Jackson, will also have 60,000 square feet of retail, including Hawaii’s flagship Whole Foods Market store, is being built on the former Nordstrom Rack and Office Depot site behind the Ward Entertainment Center, is scheduled to be completed in 2018.

It’s the third tower to start sales for Texas-based Howard Hughes Corp. (NYSE: HHC), which said in May that its two other towers under construction, the 171-unit Waiea project and the 311-unit Anaha project, were more than 75 percent sold.

Prices for the owner-occupant units at Aeo, whose buyers will be required to use them as their principal residence for at least one year, begin at $405,016 for a 409-square-foot one-bath studio, $573,000 for a 612-square-foot one-bedroom, one-bath unit; $860,000 for an 860-square-foot two-bedroom, two-bath unit; and $1.39 million for a 1,239 square-foot three-bedroom, three-bath unit.

The public lottery for the units will be held on Saturday at the Howard Hughes sales office at the IBM Building at 1240 Ala Moana Blvd., Suite 100.

Darin Moriki Reporter Pacific Business News

Sales to begin at Ward Village’s Aeo at 1001 Queen Street tower

Sales, including an owner-occupant lottery, are slaeo_star_03ated to begin Saturday, July 18, for Aeʻo at 1001 Queen Street.

The 466-unit mixed-use condominium tower will be built at the corner of Queen and Kamakee streets, and include Hawaii’s future flagship Whole Foods Market.

Construction is expected to be completed in 2018.

Ae‘o will include studios and one-, two- and three-bedroom units ranging from 409 to 1,331 square feet, each including partial ocean views. Prices start in the low $400,000s.

Amenities include a lap pool with ocean views, a dedicated family activity area with pool and children’s play area, a climate-controlled gym, an outdoor lanai for yoga and meditation, a wellness center with steam and sauna rooms, a theater, surfboard and bicycle storage, and outdoor dining spaces.

Ae‘o (pronounced “eye-oh”) is named after the Hawaiian stilt bird. The building is designed by architects Bohlin Cywinski Jackson and will feature a contemporary exterior inspired by the patterns of local trade winds.

Hundreds enter lottery for Ae’o condominiums at Ward Village

About 450 people on Saturday entered the owner-occupant “lottery” to buy a condominium at Ae’o in Ward Village.

The 466-unit mixed-use condominium tower will be built at the corner of Queen Street and Kamakee Street, and includes Hawaii’s future flagship Whole Foods Market.

KHON2 got a tour of one of the models.

The development offers studios, one, two and three-bedroom units.

Each will include partial ocean views and prices start in the low $400,000 range.

KHON2 spoke to one woman who was at the lottery for her daughter.

“She would just walk out of the condo, get her groceries go to restaurants, anything like that she would love it,” said Lindy Hashimoto.

Amenities include a lap pool with ocean views, a family area with a pool, a gym and a wellness center with steam and sauna rooms.

Construction is expected to be completed in 2018.

http://khon2.com/2015/07/18/hundreds-enter-lottery-for-aeo-condominiums-at-ward-village/

Interest high in condos at Ae’o with Whole Foods in equation

aeo_star_01A lottery will be held Saturday for condo sales in the planned Ae‘o tower at Ward Village. Pictured is a model of the Ae‘o condominium complex, which will be built at Kamakee and Queen streets.proper prior planning precents piss poor performance

The prospect of living above a Whole Foods store in Kakaako has attracted considerable interest for condominium units in a planned tower at Ward Village where an initial group of buyers will be selected by lottery Saturday.

Howard Hughes Corp., the developer of the tower called Ae‘o, said prospective buyers enrolled in the lottery as of Wednesday outnumber available condo units. However, only 234 of 466 units in the tower are available for sale.

“We received kind of overwhelming demand for the building,” said Race Randle, the company’s vice president of development in Hawaii. “A tremendous response.”

The 40-story Ae‘o represents the fourth planned high-rise condo to begin sales at Ward Village — a master plan approved for up to 22 towers on 60 acres.

Of the four towers being sold, Ae‘o has the most units and is the least pricey even though the average price is about $1 million.

Prices for Ae‘o units range from $405,016 for a studio with 409 square feet of living space to $2 million for a three-bedroom unit with 1,331 square feet of living space.

Hughes Corp. began offering 234 units for sale on July 8 to would-be buyers who will live in the units as owner-occupants for at least a year. The remaining 232 units will be offered for sale later without restrictions.

Sybil Saito, a local resident who entered the lottery, said she and her husband are interested in downsizing from their four-bedroom home in Waialae Nui to a two-bedroom unit in Ae‘o.

Being able to walk to the beach and a movie theater — along with having a Whole Foods downstairs — lent appeal to the idea of living in the growing urban Honolulu high-rise community, Saito said. Also, three adult children in the family will have graduated from college by 2018 when Ae‘o is slated to be completed.

“The timing is great,” said Saito, who was born and raised in Honolulu. ”We’ve always lived in a house. We might be ready to do something different.”

Applications for the lottery will be accepted until midnight Friday. The order of lottery tickets selected will allow ticket holders to sign purchase contracts for units that remain available.

Ae‘o is adjacent to the city’s planned rail line and will replace an Office Depot store and space previously occupied by Nordstrom Rack at the makai-Ewa corner of Queen and Kamakee streets behind the movie theaters at Ward Village. The tower is among a growing number of new Honolulu condo buildings integrated with big retail stores.

At Ala Moana Center, Hawaii’s largest shopping center, the One Ala Moana condo tower opened in November adjacent to Nordstrom above the store’s parking garage, and construction is underway on the Park Lane Ala Moana condo adjacent to a planned Bloomingdale’s store.

Nick Vanderboom, Hughes Corp.’s senior vice president of development, said residents in Ae‘o will be able to walk into the 50,000-square-foot Whole Foods store from a second-floor connection in the building.

“I think a lot of people love the concept of living above a grocery store,” he said. “They don’t have to shop for the whole week. You can almost go there every day.”

Ae‘o is part of the second phase of Ward Village. The first phase began with construction of two luxury condo towers, Waiea and Anaha, last year.

According to the most recent quarterly financial report from Texas-based Hughes Corp., 148 of 177 units at Waiea had been sold as of April 30 for an average $3.7 million. At Anaha, 241 of 311 units had been sold for an average of $1.3 million as of April 30.

A more moderate-priced tower called 988 Halekauwila with 424 units expected to roughly range from $300,000 to $700,000 is part of phase one, but has been delayed by financing issues and an unsuccessful attempt by Hughes Corp. to convert the condo project to rentals earlier this year.

The second phase of Ward Village includes one other tower for which Hughes Corp. has begun sales. That tower is one of two referred to as the Gateway Towers on part of where Ward Warehouse stands. Sales began July 7 for 63 units reserved for owner-occupants in the 125-unit ultra-luxury tower that Vanderboom said is priced similar to Waiea.

By Andrew Gomes

aeo_star
http://www.staradvertiser.com/newspremium/20150716_Interest_high_in_condos_at_Aeo_with_Whole_Foods_in_equation_.html?id=315748061

Howard Hughes switches Kakaako tower back to for-sale condo units, not rentals

This file rendering shows The Howard Hughes Corp.'s planned 424-unit, mostly affordable

This file rendering shows The Howard Hughes Corp.’s planned 424-unit, mostly affordable

The Howard Hughes Corp. has changed its plans for a Kakaako residential project back to a mostly affordable for-sale condominium tower after requesting a Hawaii agency approve the project as a rental development, an executive from the Texas-based developer confirmed to PBN Thursday.

David Striph, senior vice president of Hawaii for The Howard Hughes Corp. (NYSE: HHC), told PBN in an email Thursday that the company looks forward to working with the Hawaii Community Development Authority board and toward a “shared vision for a healthy, livable Kakaako that the entire community will enjoy and appreciate.”

“We are committed to affordable housing at Ward Village, and will do so with a for-sale project at 988 Halekauwila, as originally approved by the HCDA,” he said. “We are working with the board to find a way to move the project forward as quickly as possible that works for all.”

The HCDA originally approved the developer’s 988 Halekauwila St. project, which will be built across from Sports Authority on Ward Avenue, as a for-sale development.

However, earlier this year, Howard Hughes Corp. filed a request with the HCDA to change the Ward Village project to a rental development.

Last month, the state agency, which regulates development in the Honolulu neighborhood, struck down the developer’s request, but a final decision isn’t expected until next month.

The HCDA board took up the issue this week, but after receiving the new proposal to switch the project back to a for-sale project decided to reconvene on July 22 to discuss the project further.

“We got the new proposal minutes before the hearing,” John Whalen, chairman of the board for the HCDA, told PBN Thursday. “It’s a complex proposal. It’s hard to absorb, so we weren’t able to accept it [yet].”

The project, which is being planned for the current 404 Ward Ave., the former site of the Kanpai Bar & Grill and Dixie Grill, and the current California Rock ‘N Sushi, is part of The Howard Hughes Corp.’s first phase of its 60-acre Ward Village master plan.

Duane Shimogawa
Pacific Business News

The Howard Hughes Corp. paid to replace Iolani Palace’s broken door

Hawaii's Iolani Palace, the only royal palace in the United States

Hawaii’s Iolani Palace, the only royal palace in the United States

The Howard Hughes Corp. donated the $11,552 used to replace the original glass in one of the doors of Hawaii’s Iolani Palace that was damaged by vandals a little more than a year ago, the heads of the historic Honolulu building and the developer confirmed to PBN Friday.

In March, repairs to the door were completed with funding from an undisclosed source.

Kippen de Alba Chu, executive director for Iolani Palace, confirmed to PBN that The Howard Hughes Corp. (NYSE: HHC), which is redeveloping a large portion of Kakaako as part of its Ward Village Master Plan, paid for the repairs of the door.

David Striph, senior vice president of The Howard Hughes Corp.’s Hawaii office, told PBN that the company was honored to play a part in the restoration efforts of Iolani Palace.

“The Ward Village Foundation is committed to supporting local nonprofit organizations who perpetuate Hawaiian culture,” he said in an email.

The glass portion of the door had to be repaired by a California artist and flown in from the Mainland.

Iolani Palace, the only royal palace in the United States, was used as an official residence by reigning monarch, was built in 1879 and was governed by two monarchs, King Kalakaua and Queen Liliuokalani.

Duane Shimogawa
Pacific Business News

Howard Hughes, Japanese developers to present plans for Honolulu’s Kewalo Basin Harbor next week

The Hawaii Community Development Authority is scheduled to hear plans from The Howard

The Hawaii Community Development Authority is scheduled to hear plans from The Howard

The Howard Hughes Corp. and Kewalo Waterfront Partners Inc., a partnership between two Japanese firms, are expected to unveil two separate commercial development plans next week for the land surrounding Honolulu’s Kewalo Basin Harbor, an executive with the Hawaii Community Development Authority confirmed to PBN.

The state agency overseeing development in the Kakaako area, as part of its July 9 meeting, is scheduled to hear from the two developers regarding their proposals for the small boat harbor, which are likely to include waterfront retail, restaurants and a live entertainment venue.

The three parcels aimed for development include the former McWayne Marine Supply site, the charter boat building site and the former National Oceanic and Atmospheric Administration lot.

The HCDA plans to make a decision on which proposal to choose on Aug. 5, Aedward Los Banos, the agency’s chief operating officer, told PBN.

However, he noted that the Aug. 5 decision-making hearing may be pushed back to the agency’s September meeting.

Kewalo Waterfront Partners, which includes Good Luck International Corp. and Hinamari Hawaii Inc., has plans to renovate four buildings totaling 45,000 square feet at the former McWayne Marine Supply site.

Plans for the site include retail stores and small restaurants, as well as a live entertainment venue, a bar, a cafe, office space, a multipurpose hall and a 250-stall parking garage, according to the project’s draft environmental assessment.

The Howard Hughes Corp. (NYSE: HHC), which has development rights for a total of 22 high-rise condominiums across the street and took control of the Kewalo Basin Harbor in September, plans to submit a proposal for all three parcels.

The Texas-based developer, through its senior director of development, Race Randle, has said that its plans for the harbor could include a restaurant that serves fresh fish caught from the commercial boats based at the harbor.

Other ideas presented at community meetings earlier this year included developing an oceanfront community center on the makai, or ocean, end of the harbor, which sits directly across from the developer’s 60-acre Ward Village master-planned community.

In the meantime, Japan-based Bellavita Inc. has scrapped its plans to develop a 6,000-square-foot Italian restaurant called Napule in the Kewalo Basin Harbor area, Los Banos told PBN.

He pointed out that the HCDA board may end up choosing Howard Hughes’ or Kewalo Waterfront Partners’ plan, or just the Texas-based developer’s proposal for all three sites.

The board also may end up choosing none of the proposals.

Duane Shimogawa
Pacific Business News

Hawaii agency board to make final decision on Howard Hughes residential project in June

This rendering shows The Howard Hughes Corp.'s planned 988 Halekauwila project

This rendering shows The Howard Hughes Corp.’s planned 988 Halekauwila project

The Howard Hughes Corp. is not quite sure what its next step would be after a Hawaii agency unanimously struck down its request to move ahead with its previously approved Kakaako residential project at 988 Halekauwila as a rental project, the Texas-based developer told PBN.

However, a spokeswoman for the Hawaii Community Development Authority told PBN Thursday that the developer’s lawyers indicated that they will file exceptions to their application, so the board will take final action on June 24.

On Wednesday, the HCDA, which has a new set of board members, voted to deny the developer’s request to change the Ward Village project from a mostly affordable for-sale project to a rental project.

Steven Scott, vice chair of the HCDA and owner of Scott Hawaii, told PBN Thursday that the developer should abide by its original permit, which includes building a tower with 424 for-sale units, including 375 reserved units.

The project’s development permit was set to expire on July 17, although the HCDA voted Wednesday to approve an extension for two years.

David Striph, senior vice president for Hawaii for The Howard Hughes Corp. (NYSE: HHC), told PBN in an email that an approval of the developer’s request would have extended the length of regulations keeping the units affordable to 15 years for tenants at 80 percent to 100 percent of area median income, compared to for-sale units that would only remain affordable for two to five years for buyers at 100 percent to 140 percent of area median income.

For a single person, the Honolulu area median income at 80 percent is $46,256, while it’s $57,820 at 100 percent and $80,948 at 140 percent, according to the U.S. Department of Housing and Urban Development.

“This new board has stated their intention to listen to the voice of our community, and public testimony was overwhelmingly in support of approving the project for 15 years,” Striph said in an email to PBN. “We are disappointed the project was not approved because our community suffers when the delivery of much-needed affordable housing is slowed down or stopped.”

He noted that, in spite of this setback, Howard Hughes is dedicated to providing a wide range of housing in Honolulu for local residents.

“[We] look forward to exploring alternatives to satisfy our reserved housing requirements for Ward Village,” Striph said. “There is much greater need for affordable housing in Honolulu than there is for for-sale condominiums. Approximately five times the number of households on Oahu would have qualified to rent at 988 Halekauwila versus those that are qualified to buy.”

Under the HCDA’s old rules, projects could be utilized as rentals for a minimum of 15 years or longer. But in 2011, new rules came into effect that set the timer period for affordable rentals at a fixed 15 years.

“Under the Howard Hughes plan that it inherited from [General Growth Properties Inc.], it’s a minimum of 15 years,” Scott said. “Then when they went to get their permit in April 2013 for Waiea and Anaha, they said they would be building 375 reserved units for sale at 988 Halekauwila. That would satisfy their affordable requirements.”

Then in January, Howard Hughes said it wanted to make the change from a for-sale to a rental project for 15 years.

“The previous board had put out a study in March, which recommended that if it is a rental project, it should be for 30 years, and that the area median income percentage should be reduced from 140 percent to 120 percent,” Scott said. “When this proposal came to us on April 1, the sentiment was that 15 years is too short. In terms of affordable housing, it should be longer, and in 15 years, they could turn around and sell those units at fair market value, turning it from a co-op to a condo.”

In February, Howard Hughes officially requested the ability to proceed with its 988 Halekauwila project, which will be built across from Sports Authority on Ward Avenue, as a rental development.

The developer previously told PBN that if the request was approved, it would in no way impact the number of reserved housing units — 375 — provided at 988 Halekauwila, which represent three times the number of units required for phase one of Ward Village.

The project, which is being planned on what is the former site of the Kanpai Bar & Grill and the current California Rock ‘N Sushi, is part of the developer’s first phase of its 60-acre Ward Village master plan.

Scott told PBN that under the current rules, Howard Hughes can’t move people into its Waiea and Anaha luxury condos, which are also part of phase one, until it puts financial assurance that it will build 988 Halekauwila, or starts construction on the project.
Duane Shimogawa
Pacific Business News

Howard Hughes Corp. to start work this fall on Kewalo Basin Harbor redevelopment in Honolulu

Howard Hughes Corp. to start work this fall on Kewalo Basin Harbor redevelopment in Honolulu

Howard Hughes Corp. to start work this fall on Kewalo Basin Harbor redevelopment in Honolulu

The Howard Hughes Corp. plans to start construction this fall on its multimillion-dollar redevelopment of Kewalo Basin Harbor between Downtown Honolulu and Waikiki, according to the state agency regulating development in the city’s Kakaako area.

The Texas-based developer’s Kewalo Basin Harbor LLC selected Honolulu-based Sea Engineering Inc. to do the work after issuing a design-build request for proposals in late October.

The marine-related engineering, construction and diving services firm, which was founded in 1973 by University of Hawaii graduate students, was chosen by The Howard Hughes Corp. (NYSE: HHC) in February over Hawaii Harbors Constructors, a joint venture between Hawaiian Dredging Construction Co. Inc. and Healy Tibbits Builders Inc.

Almar Management Inc., a California marina operator that previously leased the harbor from the Hawaii Community Development Authority before Howard Hughes took over in September, also responded to the RFP.

Howard Hughes is in negotiations with Sea Engineering and is projecting five months of design with harbor repair construction starting in the fall, according to the HCDA, which noted that the harbor is operating at near full capacity.

Sea Engineering is proceeding with the final design of the repairs and obtaining necessary pre-construction permits for harbor jetty repairs, the state agency said.

The developer declined to specify what type of investment would be going into the land part of the redevelopment, although it has been previously noted that a $20 million investment would go into renovating the harbor itself, including the boat slips and other infrastructure.

Howard Hughes has said that the redeveloped harbor could include a fresh fish restaurant and an oceanfront community center on the makai, or ocean, end of the harbor, which sits directly across from its 60-acre Ward Village master-planned community.

The developer has been holding community meetings to come up with ideas for the project, which includes upgrading restrooms, adding food service and a convenience store for boaters, security and other improvements.

Kewalo Basin currently has 144 boat slips i n various states of disrepair and is in need of an overhaul, according to the HCDA, which assumed control of the harbor in 2009.

Duane Shimogawa
Pacific Business News

Hughes AE’O at 1001 Queen St.

AEʻO AT 1001 QUEEN

Coming to Ward Village Summer 2015

Your Opportunity to Live in Honolulu’s Vibrant New Community

Starting from the Low $400k’s – According the permit application submitted to the HCDA, the project will feature 65 studios, 220 one-bedroom units, 125 two-bedroom units, and 56 three-bedroom units.

Offering unique residences designed by internationally recognized architecture firm Bohlin Cywinski Jackson and an inspiring amenity experience for a healthy lifestyle, Aeʻo at 1001 Queen will set the tone for modern urban living in Honolulu. With beautifully designed studio, one, two, and three bedroom floor plans, Aeʻo residences feature panoramic or partial ocean views and some of the highest quality design, finishes, and amenities in Honolulu.

Enjoy life in the heart of Ward Village where Whole Foods Market, Ala Moana Beach Park and over 135 shops and restaurants are just steps from home.

Ae‘o is the name of the Hawaiian stilt bird and connects to the history of the land it sits on, which was originally the ‘ili of Kukuluae‘o when the Ward family purchased it in the 1870’s. Ae‘o will include 466 residences and over 60,000 total square feet of retail. The project is located on the corner of Queen and Kamake‘e Streets, adjacent to the top theater in the state of Hawaii, at Ward Entertainment Center. Ae‘o will include the opening of the new highlyanticipated flagship Whole Foods Market and other unique retailers along the re-envisioned Halekauwila Street that will lead to the future planned 4-acre park situated in the heart of Ward Village.

  • Interior View to OceanLOCATION: SITUATED IN THE HEART OF ONE OF HONOLULU’ S MOST EXCITING NEW COMMUNITIES
    – Located conveniently above Hawaii’s new flagship Whole Foods Market
    – Two blocks from Ala Moana Beach Park and Kewalo Harbor
    – One block from 4-acre park in the center of Ward Village
    – Adjacent to Ward Entertainment Center 16-plex theater
    – Situated in Honolulu’s most walkable and bike friendly community
    – The only LEED-ND Platinum neighborhood in Hawaii
    – 135 diverse shops, boutiques, and restaurants nearby
    Privately patrolled neighborhood

 

  • BUILDING FEATURES: THOUGHTFULLY DESIGNED BY AWARD-WINNING ARCHITECTURAL FIRM BOHLIN CYWINSKI JACKSON
    – Residences starting from the low $400,000’sLiving and Dining Areas
    – Stunning ocean and partial ocean views from every residence
    – Unique residence customization options available
    – Wide range of floor plan options including studios, 1, 2, and 3 bedroom and penthouse units
    – Rich hardwood floors in living room and kitchen areas
    – Modern arrival experience with private residential porte-cochere, front desk and entry lounge
    – Direct, covered connection to Whole Foods Market from residential elevators
    – Targeting LEED (Leadership in Energy & Environmental Design) certification.

 

  • STUNNING OCEAN VIEWS AND A UNIQUE ROOF TOP TERRACE
    – Spectacular rooftop terrace with panoramic ocean and sunset views for private gatherings and partiesAMENITIES: EXCEPTIONAL INDOOR AND OUTDOOR AMENITY EXPERIENCES FEATURE
    – Lap pool with generous ocean viewsRooftop Amenity Deck
    – Dedicated family activity area with family pool and generous outdoor children’s play area
    – Covered outdoor dining pavilions and cabanas ideal for pau hana celebrations and intimate gatherings
    – Impressive climate-controlled gym with outdoor workout spaces and ocean views
    – Three Guest Suites available to host visiting family and friends *
    – Wellness Center with steam and sauna rooms and spa treatment area
    – Private movie theater
    – Lounge/Karaoke room for events and parties
    – Intimate private dining room with catering kitchen for cooking
    – Surfboard and bicycle storage areas
    – Large dog-run area

* Subject to applicable cleaning fee

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