Honolulu High Rise Sold
The partially built Moana Vista condominium tower in Kakaako has been renamed Pacifica by the development firm that completed its purchase of the stalled project this week. The sale averted a foreclosure auction of the project, which is about 40 percent complete, with the tower's structure rising up to the 26th floor.
San Diego-based OliverMcMillan said it expects to resume construction early next year. Although prices have not been set, buyers who previously held reservations to buy units from the original developer will have priority to buy units in the revamped project.
Changes will include exterior design, unit interiors and the addition of resort-level amenities. The number of units may change slightly from the 492 originally planned. OliverMcMillan is a 30-year-old privately held firm that has developed a variety of residential and commercial real estate projects. The company said it has $2 billion worth of projects in its development pipe-line, including a $700 million urban redevelopment plan in Houston, residential lofts in San Diego and a mixed-use project involving a historic winery in Ontario, Calif.
This is a new project, so if you have an interest, please contact me before you visit the sales office. I can help advise you on the lifestyle of Honolulu vs. Hawaii Kai, and sales history for both Kaka'ako and Hawaii Kai condos.
Barbara Abe, Realtor
808-226-2537
barbara@barbarashawaii.com
(resource: Honolulu Advertiser)