After more than 7 years of missteps and community disputes, the new investors of Hale Ka Lae (formerly Hale Alii) in Hawaii Kai are ready for buyers. I attended their formal Grand Opening yesterday, Feb. 19, and was impressed with the commitment shown to bring this project to market, and the changes they have made to satisfy community concerns.
Here are some of the changes the developers have made in the $300 million, 10-story project since originally conceived:
1. Replace key executives
2. Draw new architectural plans
3. Move the footprint of the building and amenities
4. Build a new sales center
5. Reduce condo prices
6. Revise the affordable housing agreement with the city and build the required units on another site in Hawaii Kai
7. Correct fines and actions for improper soil grading and archaelogical monitoring
8. Set up an archaeological preservation plan and reach agreement with the Trust for Public Land to purchase and maintain a 5-acre portion of the site as a cultural preserve.
Mike Greco, the project's chief operating officer. committed to, and has delivered, a fresh start for the development. He said they hope to begin construction in June on Phase 1 of the 242 units, and finish in 2013. Unit prices range from $685,265 for a one bedroom/1.5 bath home to $3.4 million for 3 bedrooms/3.5 baths. Sizes are generous - 992 - 1233 SF for a 1 bedroom/1.5 bath home up to 2,886 SF for a 3 bedroom/3.5 bath penthouse unit.
Features will include a private dining room, electric vehicle charging stations, a golf simulator, a theater, pools and a fitness center. The show room is beautiful and they have said the same high quality will be included in all the condos. Kitchens feature top-of-the-line Miele German appliances, and the entire home will be "upgraded" so there will be no additional upgrades to purchase.
Please let me know if you have an interest, so I can sign you up on their list. Remember, for you as a buyer to have a personal agent in new construction, that agent (hopefully me) needs to be involved from the very first interest you show. Watch here for follow up posts on the construction and progress of Hale Ka Lae.
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