Coverage of Aeʻo in this morning's July 27, 2015 Pacific Business News, by Darin Moriki:
Nearly half of the 234 owner-occupant units in the Aeo mixed-use residential high-rise in Kakaako’s Ward Village were sold over a four-day period last week after a public lottery for them began.
Sales of the units began on Saturday, July 18. By July 22, more than 110 units had been sold to local residents.
“We have exceeded our expectations for the start of owner-occupant sales and have been taking back-ups on a number of our most popular units,” Nick Vanderboom, senior vice president of development for Ward Village, said in a statement.
The high-rise, which is being designed by Bohlin Cywinski Jackson, will also have 60,000 square feet of retail, including Hawaii’s flagship Whole Foods Market.
It is being built on the former site of Nordstrom Rack and Office Depot behind the Ward Entertainment Center. It is scheduled to be ready for occupancy in 2018.
Aeo is 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 and the 311-unit Anaha, were more than 75 percent sold.
“We’ve received a tremendous response to this new building — far greater than what we expected,” Race Randle, senior director of development at The Howard Hughes Corp., told PBN. “I think, from what we’ve heard from people, they’re really recognizing that it’s becoming a great place to live with the construction of high-quality homes, along with the addition of the grocery store, neighborhood retail and all the improvements that we’re making to the neighborhood.”