Pacific Business News' Duane Shimogawa provides an update of The Howard Hughes' Corporation's Ward Village projects, below. Highlights include sales at Waiea, Anaha, Aeo, and Ke Kilohana projects:
The Howard Hughes Corp. (NYSE: HHC) has sold about 91 percent and 92 percent of the 491 total units at its Waiea and Anaha mixed-use condominiums in Honolulu, respectively, the Texas developer said Monday in its second-quarter earnings report.
Howard Hughes sold 158 of the 174 units at its Waiea project and 292 of the 317 units at its Anaha condo.
The $403 million Waiea condo is scheduled to be completed in the fourth quarter, and the $401 million Anaha condo is expected to be done in summer 2017. Thus far, Howard Hughes has spent $303.5 million on Waiea and $170.2 on Anaha.
Aeo, the third of the four mixed-use condo towers planned for the first phase of the developer’s 60-acre Ward Village master-planned community, should be completed by late 2018. The developer has spent $39.2 million so far on its $430 million Aeo condo.
Whole Foods Market Inc.’s (Nasdaq: WFM) flagship Hawaii store has pre-leased about 81 percent of the retail space in Aeo. Howard Hughes has sold 241 of the 466 units in this condo, or about 52 percent.
The 375 workforce units at its 424-unit Ke Kilohana condo are sold out. The market-rate units began pre-sales in late July on the $219 million project. The developer has spent $10.5 million thus far on Ke Kilohana.
The Dallas developer reported a profit of $67.3 million, or $1.58 per diluted common share in the second quarter, up from $24.2 million, or 56 cents per diluted common share, in the same quarter last year.
Hawaii regulators last week approved its $20 million plan to upgrade Kewalo Basin Harbor in the Honolulu neighborhood of Kakaako. The harbor is located across the street from Ward Village.