Congratulations to the Howard Hughes Corporation team for the recent approval of their next tower, Kalae, by the Hawaii Community Development Authority (HCDA)! Located at 1000 Ala Moana Boulevard, Kalae will include 330 new residences. Additionally, it will expand the Victoria Ward Mark Makai and include public art and retail activations.
Read more from Pacific Business News:
The Hawaii Community Development Authority (HCDA) has approved plans for Kalae, the 10th residential tower planned for Ward Village.
Developed by the Howard Hughes Corp., Ward Village is a 60-acre master-planned community located between Downtown Honolulu and Waikiki.
As the newest Ward Village development, Kalae will create 330 new homes, as well expand Victoria Ward Park Makai and enhance experiential public art and retail activations, the developers said in an announcement.
“With HCDA’s support for additional homes and smart growth, Ward Village will continue with Kalae to transform Kakaako into a vibrant and thriving neighborhood, thereby bringing additional benefits to Honolulu and our community,” Doug Johnstone, president, Hawaii at The Howard Hughes Corp., said in a statement.
A construction timeline is not yet available, Ward Village officials told Pacific Business News in an email.
When asked if ongoing supply chain issues and inflation will have an effect on the Kalae project and its timeline, Ward Village officials said, "Thoughtful planning and collaboration with development partners have been critical to navigating the ongoing supply chain interruptions and inflation. While a timeline is not yet available, Ward Village looks forward to continuing to work closely with its partners to advance Kalae and the other residences in the master-planned community."
An estimated construction cost is not yet available, but according to the developer, Kalae is projected to contribute $606 million in economic impact, $198 million in workers’ earnings and $37 million in state tax revenue. The project also is expected to generate $127 million in real property tax over 30 years.
An average of more than 850 jobs will be created annually for three years to construct the building.
Kalae is designed by architecture firm Solomon Cordwell Buenz, interior designer Nicole Hollis and landscape architect Vita Inc.
Ward Village is approaching sellout of its first five mixed-use residential towers — Waiea, Anaha, Ae'o, Ke Kilohana and 'A'ali'i — while Koula and Victoria Place are under construction. The Park and Ulana Ward Village were previously approved for development.
"Ward Village looks forward to continuing the advancement of its master plan, bringing additional homes, green and open space and connectivity to the Kakaako community," the developers said.
For more information, visit kalaewardvillage.com.