Earlier this week, Pacific Business News' Darin Moriki reported that 80% of Howard Hughes' luxury condo projects Anaha and Waiea had been sold. Here at JTC, we are very excited for these two projects, and to have contributed in these sales! Please contact me if you are interested in learning more.
Find the article below:
More than 80 percent of the units in The Howard Hughes Corp.'s two luxury condominium towers under construction in Honolulu, the 174-unit Waiea tower and the 317-unit Anaha tower, were under sales contracts as of the end of last month, according to the Texas-based developer's second quarter earnings report.
At the Waiea project, 88.5 percent of the units were under sales contracts as of July 24 — an increase from the 86.5 percent disclosed in The Howard Hughes Corp.'s (NYSE: HHC) first quarter report in May. Meanwhile, about 81.7 percent of the units in the Anaha project, were under contract, an increase from 77.5 percent in May.
From April 30, the last reported sales date, through July 24, The Howard Hughes Corp. entered into 15 sales contracts for Anaha and Waiea, combined, representing 17.9 percent of the available units for sale at that time, the company said.
Last month, Howard Hughes also opened pre-sales for two more projects in Kakaako — the first of two Gateway Towers, which will be built on part of what is currently Ward Warehouse and will have 125 luxury units, and Aeo, a 466-unit tower that will have Hawaii's flagship Whole Food Market store.
"The launch of pre-sales in July of two new condominium towers totaling 591 units, and the 413 units under contract at the Anaha and Waiea towers under construction at Ward Village are indicative of the strong demand we are seeing for high quality residential housing in our thoughtfully designed urban master planned community in Hawaii," David Weinreb, CEO of The Howard Hughes Corp., said in a statement.
In all, The Howard Hughes Corp. says it has spent $116.5 million of the estimated $403 million that it will likely take to construct Waiea, which is slated to be complete by the end of 2016. The company has also spent about $57.7 million of the estimated $401 million in development costs needed to construct Anaha, which is slated to be complete by mid-2017.