Jack Tyrrell specializes in Kakaako, Honolulu, Hawaii luxury condo projects.

Viewing entries tagged
urban development

Comment

Howard Hughes hires BlackRock exec to oversee Hawaii development

Simon2Cropped.jpg (1).jpg

HONOLULU--(BUSINESS WIRE)--The Howard Hughes Corporation® (NYSE: HHC) announced today that Simon Treacy has joined the company as President, Hawai’i. In this position, Mr. Treacy will be leading the development, sales and operations of Ward Village®, the acclaimed 60-acre master planned community recently named “Best Planned Community in the US” by Architectural Digest. Since beginning sales in 2014, Ward Village has sold more than 1,300 homes. At full build-out, the community will consist of more than 4,500 residences and approximately one million square feet of retail space.

Mr. Treacy has 20 years of global real estate experience across Asia, Europe and the US. He has lived in Australia, Singapore, Thailand, Hong Kong, Japan, and China, and spent the past four years in New York as BlackRock Real Estate’s Managing Director, Global Chief Investment Officer and Head of US Equity. Prior to BlackRock, Mr. Treacy was a Founding Shareholder and Global CEO of MGPA, which was acquired by BlackRock in 2013, and had $14 billion of funds under management in Asia and Europe. Mr. Treacy is also a global governing trustee in ULI and a leader in urban planning and land use.

“With his long and successful track record in real estate and urban planning, Simon is a tremendous addition to our senior team and well positioned to steer Ward Village as it continues to come to life as one of the leading urban master plans in the world,” said David R. Weinreb, Chief Executive Officer of The Howard Hughes Corporation. “I am particularly pleased to have found a dynamic executive like Simon, who already calls Honolulu home, and who brings a variety of skill sets and experiences that can complement our existing deep bench of talent at Ward Village.”

“My family and I made the decision to move from the mainland to this beautiful and special place last year for personal reasons; I am excited that the opportunity presented itself to join this dynamic company which is transforming Oahu’s urban core,” said Simon Treacy. “I am looking forward to listening, learning, and finding the right ways to be of service in the community as I share my experiences and lead the continued development of Ward Village.”

Mr. Treacy is taking the helm at Ward Village as the community celebrates several recent milestones, including the successful delivery of Anaha®—the second mixed-use residential building in the community. Ward Village has also reached a near sellout of the first collection of homes from its four towers either delivered or under construction—Waiea®AnahaAe`o®, and Ke Kilohana—whose contracted sales have collectively exceeded 93 percent of available homes. Most recently, the launch of sales at ‘A‘ali‘iexpanded the selection of residences at Ward Village with the introduction of innovative smart-living homes. The strong market demand for new housing in Honolulu and the desire for an urban, walkable lifestyle have made Ward Village a sought-after destination for home buyers. The momentum is expected to continue to build throughout the coming years; openings slated for 2018 include the state’s largest Whole Foods Market, as well as the first O’ahu location of the acclaimed restaurant Merriman’s.

As the largest LEED-ND Platinum certified master plan development in the country and the only one in Hawaiʻi, Ward Village is at the forefront of sustainable community development, featuring public amenities at a scale not offered by any other urban development in the state.

About Ward Village®

Being developed by The Howard Hughes Corporation®, Ward Village is a 60-acre coastal master-planned community in the heart of Honolulu located between downtown and Waikīkī in the Kaka'ako district. Ward Village is at the forefront of sustainable community development, integrating significant architecture, local culture, and public space. New tree-lined sidewalks and bike lanes provide access to an over 100-acre public beach park and the Kewalo Harbor. Since beginning sales in 2014, Ward Village has sold more than 1,300 homes. At full build-out, the community will consist of more than 4,500 residences and approximately one million square feet of retail space.

Ward Village includes four mixed-use residential towers—Waiea®, Anaha®, Ae`o®, and Ke Kilohana—that are transforming the popular shopping and dining district into a vibrant neighborhood that offers ocean views and a thoughtfully curated mix of retail experiences set among walkable open spaces. The most recently approved building, ‘A‘ali‘i, will continue to expand the selection of new homes at Ward Village and sit at the top of the Central Plaza, which will serve as a key public gathering and activation space for the community. Art and culture play an integral role at Ward Village, which was the home of the inaugural Honolulu Biennial in 2017. Public art is highlighted throughout the neighborhood, including large-scale wall murals, sculptures and locally-inspired exhibits.

Ward Village is Hawai‘i’s only LEED-ND Platinum-Certified project and is the largest neighborhood development in the country to receive such a prestigious certification. For more information, visit www.wardvillage.com.

About The Howard Hughes Corporation®

The Howard Hughes Corporation owns, manages and develops commercial, residential and mixed-use real estate throughout the U.S. Its award-winning assets include the country’s preeminent portfolio of master planned communities, as well operating properties and development opportunities including: The Seaport District NYC in New York; Columbia, Maryland; The Woodlands®, The Woodlands Hills, and Bridgeland® in the Greater Houston, Texas area; Summerlin®, Las Vegas; and Ward Village® in Honolulu, Hawaiʻi. The Howard Hughes Corporation’s portfolio is strategically positioned to meet and accelerate development based on market demand, resulting in one of the strongest real estate platforms in the country. Dedicated to innovative placemaking, the company is recognized for its ongoing commitment to design excellence and to the cultural life of its communities. The Howard Hughes Corporation is traded on the New York Stock Exchange as HHC. For additional information visit www.howardhughes.com.

Safe Harbor Statement

Statements made in this press release that are not historical facts, including statements accompanied by words such as “will,” “believe,” “expect,” “enables,” “realize,” “plan,” “intend,” “assume,” “transform” and other words of similar expression, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s expectations, estimates, assumptions, and projections as of the date of this release and are not guarantees of future performance. Actual results may differ materially from those expressed or implied in these statements. Factors that could cause actual results to differ materially are set forth as risk factors in The Howard Hughes Corporation’s filings with the Securities and Exchange Commission, including its Quarterly and Annual Reports. The Howard Hughes Corporation cautions you not to place undue reliance on the forward-looking statements contained in this release. The Howard Hughes Corporation does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release.

Contacts

The Howard Hughes Corporation
Cristina Carlson, 646-822-6910
VP, Corporate Communications and Public Relations
cristina.carlson@howardhughes.com
or

For HHC Investor Relations
David O’Reilly, 214-741-7744
Chief Financial Officer
david.o'reilly@howardhughes.com

Comment

Comment

Pacific Business News Tours Ward Warehouse Demolition

If you have driven along Ala Moana Boulevard lately, the mauka side is starting to look a lot different.  Not only is Waiea now the dominant presence, with its sweeping architecture hard to ignore, but an old, familiar landmark is now gone: Ward Warehouse.  The Howard Hughes Corporation began their demolition of the Ward Warehouse earlier this July in order to make way for its Gateway Towers development.  The redevelopment of the parcel will feature a park in between two towers, creating an improved mauka to makai connection from Kewalo Harbor to Ward Village.

Read more updates from Pacific Business News' tour of the current state of the Ware Warehouse demolitions, below. And view more photos online on Pacific Business News' website, here.

It’s a matter of weeks now before Honolulu’s Ward Warehouse becomes just a memory, as The Howard Hughes Corp. clears the land to make way for a future mixed-use tower under its Ward Village master plan.

Re-use Hawaii spent this week salvaging old-growth Douglas fir beams, fixtures and other building materials from the site, as Layton Construction worked to demolish the areas where salvaging had already taken place.

Quinn Vittum, executive director of Re-use Hawaii, said the work to salvage material from the retail and restaurant center, which closed on July 31, is taking place in two phases. The first phase, which started in August, recovered such interior items as doors, cabinets, plumbing fixtures and lights from retail stores and the Old Spaghetti Factory, Kincaid’s and Stuart Anderson’s Cattle Co. restaurants. 

The second phase is to recover the large beams and other lumber from the structure.

Vittum said the lumber is clear vertical grain Douglas fir that was milled from trees harvested in northern California or the Pacific Northwest in the mid 1970s.

Vittum said Re-use Hawaii expects to be finished in early January. After that, it’s off to salvage items from Ward Plaza, and then the warehouses across Auahi Street before they are also demolished for future phases of Ward Village

Comment

Comment

Neighborhood News: Kewalo Harbor to undergo major transformation starting this month

Photo: Kewalo Harbor, Howard Hughes Corporation

The Howard Hughes Corporation has begun its long-planned renovations to Kewalo Harbor and Kewalo Basin. The plans will bring additional security and long overdue renovation to the harbor infrastructure improvements, including water, fire and electrical upgrades, security cameras and gates, Wi-Fi, new docks and a marine fueling facility. Additional improvements include an improved City lifeguard response station, landscaping, signage, restroom facilities and marketing resources for businesses on the harbor. The project will be led by Honolulu-based Sea Engineering Inc.  

"This partnership will allow us to bring much-needed repairs and upgrades to the Kewalo facilities while also creating a stronger connection between Kewalo Harbor, Ala Moana Beach Park and the nearby areas," said Howard Hughes Corp. Vice President for Community Development, Todd Apo.

Watch the full news report on KITV News, here:

Kewalo Harbor will undergo a major transformation starting this month.

The Howard Hughes Corporation is set to break ground on a $20 million renovation project.

Dock renovations and facility upgrades include improvements to security and a city lifeguard response station.

Upgrades will take place in phases and are set to begin in mid-September.

"I think this community of Kewalo Harbor and Kewalo Basin is going to get so much better with what Kupu is doing here from a non-profit standpoint, friends of Kewalo taking care of Kewalo park and the City and County with their efforts at Ala Moana Beach Park. All of this will come together to create an amazing oceanfront for all of us," Todd Apo, vice president of community development with the Howard Hughes Corperation said.

"They all need renovation, definitely and this isn't the only harbor that needs renovations, so I'm happy about that part," Ari Safari, a Rosalie Claire boat owner said. 

Safari said she'd welcome more boat services in exchange for higher fees.

A lease agreement between HCDA and Howard Hughes plans for increased slip rates.

After the project is complete, rates could go up between $2 and $4 per foot.

Comment

Comment

Bikeshare Hawaii Biki stop coming to Kolowalu Park

Project Area

This article originally appeared in the July 2017 edition of the Hokua Resident Newsletter, Ahailono. Written content is attributed to Hokua staff.

Within the next two weeks, Bike Share Hawaii with the approval of the HCDA will install a 23 dock bike rack at the makai corner of Kolowalu Park, at the corner of Queen’s Lane and the Hokua garage entrance (as depicted on the right). The proposal was approved by the HCDA Board at its June 7, 2017 regular meeting and grants Bike Share Hawaii a right of entry to use this location for the installation, operation and maintenance of a bike share pro- gram for a term of 5-years. Landscaping will be modified and surface improvements made before the rack is installed. Manage- ment has been advised that the rack will initially be stocked with 14 bikes but inventory will rotate and fluctuate based on actual usage. All residents should be aware of the additional bicycle traffic in this area and be alert when entering and exiting the garage entrance driveway.

Bike Share Hawaii is a not-for-profit 501(c)3 organization that manages a bike sharing system in the State of Hawaii. The initiative is supported by the Department of Transportation, Department of Health, City and County of Honolulu, and numerous public and private organizations. Currently bike racks have been installed throughout the downtown, Kaka’ako, and Waikiki areas (as noted on the map to the right) with the intent that residents and visitors will use the bikes as an alternative mode of transportation. Bicycles are rented for short periods and may be returned to any rack. A credit card or Biki Pass is necessary to rent bicycles.

For more information regarding the Bike Share Hawaii program and to view available plans go to their website, https://gobiki.org/. 

Comment

Comment

Howard Hughes Corp. sets date to shut down, demolish Ward Warehouse

Photo credit: Tina Yuen, Pacific Business News

Photo credit: Tina Yuen, Pacific Business News

Last week, Pacific Business News broke the story that Howard Hughes Corporation had officially notified its tenants that the 42-year-old retail complex will close and be demolished in August 2017.  Gateway Towers is planned for the site. Read more here:

Ward Warehouse, the 42-year-old landmark Honolulu retail and restaurant complex, will shut down in August and being demolished, an executive with The Howard Hughes Corp., the owner of the complex, confirmed to Pacific Business News Thursday.

This week, dozens of Ward Warehouse tenants received notice of the closure.

The entrance to the parking garage at Ward Warehouse in the Honolulu neighborhood of Kakaako. The Howard Hughes Corp. has notified tenants that the retail complex will close and be demolished in August to make way for the Gateway Towers project.

The demolition of the Kakaako complex is the initial step toward the redevelopment of the space as part of the Texas developer’s 60-acre Ward Village master plan. Ward Warehouse is expected to eventually be replaced by the Gateway Towers, which includes two luxury condominium towers designed by famed architect Richard Meier.

Howard Hughes Corp. (NYSE: HHC) said in its third-quarter earnings report that construction of these two towers will be subject to getting an acceptable level of presales and financing for the project.

“The demolition of Ward Warehouse is a bittersweet point in the development of our Ward Village community,” Todd Apo, vice president of community development for Howard Hughes, told PBN in an emailed statement. “As we look forward to the future of this area, we give a heartfelt mahalo to all the merchants who have made Ward Warehouse a special place over the last four decades. They set the stage for the one-of-a-kind retail and dining experiences that remain a hallmark of Ward Village.”

The 115,000-square-foot Ward Warehouse was built in 1975 as a temporary structure originally intended to last about 15 years. Now, more than 40 years later, the structure has surpassed its useful life, exemplified by the pedestrian overpass that was required to be demolished last year because it was beyond repair, according to Howard Hughes.

Several Ward Warehouse stores have chosen to close their doors for good, including the Liquor Collection, Happy Haleiwa, Executive Chef and Kaypee Soh. Others have moved or are in the process of moving to other spaces, including Brue Bar, Island Slipper, The Wedding Cafe and The Old Spaghetti Factory.

“We will continue our efforts to assist with the transition and, where it makes sense, help to relocate merchants, as we did with Merle Norman, Town & County Surf, Hakubundo, TAJ, In Specs, Paina Cafe, Downtown Giftthings, Eden in Love, MORI by Art + Flea, Flotsam & Co., and Big Bad Wolf in their moves to other retail properties within Ward Village,” Apo said.

Architect Steve Au, owner of Steve Au and Associates and a former partner at Au Haworth and Smith, which designed Ward Warehouse, previously told PBN that when his firm designed the retail complex, it went with something that could be distinctive and easily built without using heavy materials.

“Besides the parking structure, everything else there is built with wood,” he said.

Comment

Comment

Ward Village Update: State says Howard Hughes' Aalii Kakaako tower project must follow conditions

Aalii condo development project at Ward Village, Kakaako, Honolulu, Hawaii.

Pacific Business News has reported on the results of the February 1, 2017 Hawaii Community Development Authority's (HCDA) regular meeting, which discussed the request from the Howard Hughes Corporation to remove conditions the HCDA had set for the approval of the developer's latest residential project.  The HCDA has rejected this request.  Read more below:

Hawaii regulators have rejected a request by The Howard Hughes Corp. to do away with conditions set for the approval of the newest mixed-use high-rise residential project within the developer's 60-acre Ward Village master-planned community in Honolulu, a spokesman for the state agency confirmed to Pacific Business News.

On Wednesday at its regular meeting, the Hawaii Community Development Authority board voted to not reconsider three conditions it set for the approval of the 42-story, 751-unit Aalii project in the Honolulu neighborhood of Kakaako.

Todd Apo, vice president of community development for The Howard Hughes Corp. (NYSE: HHC), told PBN in an email Wednesday that despite Wednesday’s decision, the developer remains committed to the Aalii project and it is eager to bring more homes to Ward Village for local residents.

Last month, the HCDA officially approved the Texas-based developer’s plan to develop the Aalii project. But along with that approval came several conditions that the HCDA said the developer must meet, including the development of the central plaza and reserved housing requirements.

Last week, attorneys with Honolulu’s Watanabe Ing LLP, which represents Howard Hughes, filed paperwork with the HCDA regarding the developer’s exceptions to three of the conditions.

One condition noted that before regulators let people move into the project — or two years from the approval of the development permit, whichever happens first — the developer must complete the construction of the 150,000-square-feet of central plaza nearby, which includes public plazas and pedestrian walkways.

Howard Hughes said that it is impossible to accomplish this condition because the design, planning and permitting process for the central plaza will take about two years to complete, only after which construction may begin; a realistic timeframe would be about four years to complete construction of the plaza. The developer also said that this condition violates the development agreement, which allows it flexibility in project phasing.

Howard Hughes also takes issue with two more conditions set by the HCDA regarding reserved housing requirements.

The HCDA voted 5-4 on Jan. 5 to approve the Aalii project, which will be located on the route of the Honolulu rail transit project along Halekauwila Street.

Aalii will join Howard Hughes’ Aeo project next door, which includes the state’s flagship Whole Foods Market, and the Waiea, Anaha, Ke Kilohana and Gateway Towers that would replace the Ward Warehouse retail complex.

Comment

Comment

September 2016 Ward Village Construction Update

The Howard Hughes Corporation has posted a September 2016 construction update on their Waiea, Anaha, and Aeo luxury condo projects on their website here

  • Waiea Construction Site

Level 36 partitions are being framed.
560 construction workers are on-site daily.
45,000 cubic yards of concrete have been poured to date.

  • Anaha Construction Site

Over 3,750 curtain wall units have been installed.
Cooling towers have been placed on the roof.
39,500+ cubic yards of concrete have been poured to date.

  • Aeʻo Construction Site

Over 2,100 cubic yards of concrete have been placed.
Four prism back sights have been installed, one of which is over 1,100 feet away and 253 feet in the air, to assist in robotic/laser-assisted site layout.
125 construction workers are now on the construction site.

Comment

Comment

Howard Hughes' Honolulu luxury condo towers nearly sold out

Rendering of Anaha Luxury Tower at Ward Village, The Howard Hughes Corp.

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.

Comment

Comment

The Coffee Bean & Tea Leaf to open at Ward Village

Photo: Coffee Bean and Tea Leaf Hawaii / Foodland

Photo: Coffee Bean and Tea Leaf Hawaii / Foodland

There is going to be a new place to get your coffee and tea fix on as the popular U.S. coffee and tea cafe chain The Coffee Bean & Tea Leaf comes to Ward Village's forthcoming South Shore Market, located below the T.J. Maxx.  Read more from The Pacific Business News, below:

The Coffee Bean & Tea Leaf is opening a new shop in the space below T.J. Maxx at Ward Village in Honolulu that will include a mix of retail and restaurant tenants, Pacific Business News has learned.

The Howard Hughes Corp. (NYSE: HHC), the developer of the 60-acre Ward Village master-planned community in Kakaako, is currently building-out its “South Shore Market” project, which will include some tenants moving from Ward Warehouse, as first reported by PBN.

Last week, The Coffee Bean & Tea Leaf pulled an $850,000 building permit with the City and County of Honolulu’s Department of Planning and Permitting for a new location at the South Shore Market at 1170 Auahi St.

Honolulu-based Sullivan Family of Companies, which also owns Foodland Super Market Ltd., owns The Coffee Bean and Tea Leaf Hawaii franchise.

The Coffee Bean & Tea Leaf is owned by International Coffee & Tea, LLC, headquartered in Los Angeles. The chain has more than 950 stores in the U.S. and around the globe.

Some food and beverage and retail tenants from Ward Warehouse, which eventually will be developed into a high-rise luxury condominium project, are expected to open at South Shore Market, as well as other new tenants.

The South Shore Market project will include both indoor and outdoor seating, with the outdoor portion opening up toward a nearby park.

Todd Apo, vice president of community development for The Howard Hughes Corp., told PBN that the developer has no comment at this time.

PBN has reached out to the Sullivan Family of Cos. for comment

Comment