Salem Partners has received final approval from the Honolulu City Council to build a second major project under Honolulu’s Ala Moana Transit Oriented Development Plan. As part of the latest project, Salem proposed an innovative affordable housing plan for 78 units to be built on the 1.42-acre site at 1500 Kapiolani Avenue.
The project will include two mixed-use towers, one at 400 feet and the other at 350 feet, connected by an iconic bridge that spans from the 35th floor of the taller tower to the rooftop of the second. Salem plans a total of 450 hotel and residential units in the glass towers.
The site, bounded by Kapiolani Boulevard on one side and Makaloa Street on the other, will be activated with restaurants and retail shops at ground level as well as extensive gardens and plazas.
Nonprofit affordable housing developer EAH Housing will collaborate with Salem Partners to develop and manage the affordable element that is designated for senior housing. Five floors of apartments will be built atop the parking structure that is adjacent to the flagship Walgreens. Recently Salem sold the Walgreens building but retained the parking structure where it will now build additional parking and the affordable apartments.
Salem’s Mana’olana Place project at Atkinson and Kapiolani across from the Hawaii Convention Center will start construction in the second quarter of 2018. A new Mandarin Oriental Hotel will anchor the mixed-use tower. Mandarin Oriental Honolulu will include 125 guestrooms and suites and 107 branded residences.
Salem’s projects will total in more than $1.6 billion in new investments in Honolulu over the next five years.
