CIM Group has closed a $136.7 million construction loan to Kenneth Kai Chang and Jeneration Capital for Ililani, a 42-story condominium tower in Honolulu.
The Ililani mixed-use development will comprise 197 affordable and 131 market-rate condominium residences in a variety of one- and two-bedroom floor plans, in addition to 6,000 square feet of ground-floor retail and a 10-story parking structure. Ililani residents will have access to a 13,000-square-foot rooftop recreation deck with barbecue areas, outdoor media centers, a keiki pool, bowling greens, and community garden, as well as indoor facilities that include an entertainment lounge, party room, co-working space, and yoga studio.
Located at 615 Keawe St., Ililani is in the Kaka’ako district of Honolulu, minutes away from Oahu’s best restaurants, microbreweries, and boutiques, and within one block of a proposed Honolulu Rail Transit station.
