Salem Partners secures approval for $750m hotel-condominium project in Honolulu
September 17, 2017 – Los Angeles-based real estate developer Salem Partners has secured final permission from the Honolulu City Council to build a second project under Honolulu’s Ala Moana Transit Oriented Development Plan.
With the latest approval, Salem proposes to construct 78-unit affordable housing project on the 1.42-acre site at 1500 Kapiolani Avenue.
The plan also allows Salem to build the 400ft tower instead of the 250ft tower, which is currently allowed. The project will feature two mixed-use towers, one at 400 ft and another at 350 ft which will be connected by a bridge at the 35th floor.
Salem plans a total of 450 hotel and residential units at 1500 Kapiolani, which will be designed by Colorado-based architectural firm [au] workshop.
Affordable housing developer EAH Housing will team up with Salem Partners to develop and manage the affordable element. Five floors of housing units will be constructed above the parking structure that is next to the Walgreens store.
Salem said that its Mana’olana Place project at Atkinson and Kapiolani across from the Hawaii Convention Center will begin work in the second quarter of 2018.
A new Mandarin Oriental Hotel will anchor the mixed-use tower also designed by [au] workshop. Mandarin Oriental Honolulu will feature 125 guestrooms and suites and 107 branded residences.
Salem Partners managing director James Ratkovich said: “We have enthusiastically embraced the city’s new TOD plan and look forward to the completion of the transit system in 2022.
“And we are very proud of the affordable housing plan we have created. It is an innovative solution for deeply needed affordable units in Honolulu.”