Kapolei, HI Mixed-Use Development, Designed by SVA Architects, Receives $80 Million in Bond Funds
Kulana Hale Brings Retail and Mixed-Income Homes to West Oahu's Central Business District
HONOLULU, Sept. 17, 2018 /PRNewswire/ -- SVA Architects, Inc. is pleased to announce that its Kapolei mixed-use project, Kulana Hale, received $80 million in bond funding from the Hawaii Housing Finance & Development Corporation (HHFDC) for the project's affordable components on August 10, 2018. The West Oahu project will bring approximately 300 new residences and 32,000 square feet of retail to the area. Kulana Hale is part of a recent rapid growth in Kapolei that has transformed the city into the central business district on West Oahu. SVA Architects finalized the design and is prepared to commence construction of phase one for Coastal Rim Properties, Inc. and Highridge Costa Development Company, LLC; the project is scheduled to break ground on September 20, 2018.
Located at 1020 Wakea St., the three-acre Kulana Hale is bordered by Haumea, Wakea, Alohikea and Ala Kahawai Streets. The $130 million mixed-use project will consist of three components developed in three phases. Phase one will be a 13-story tower with 154 affordable senior rental units and ground floor retail space. Phase two will add another 13-story tower with 143 family affordable units, as well as additional retail. Phase three will add a one-story retail building. Phase one of the project is expected to be complete by early 2020.
Ernesto M. Vasquez, FAIA, CEO of SVA Architects, states, "This is a very exciting project that will help bring new energy to this rapidly growing area of West Oahu. We are very proud to be a part of Kapolei's growth and bring affordable housing to an area where affordable housing is in high demand." Mr. Vasquez has been working in Hawaii since 1983.
Mohannad H. Mohanna, President of Highridge Costa Development Company adds, "We are pleased to announce the closing and start of construction of our newest community in Kapolei, Kulana Hale. We are very excited to provide much needed affordable senior and family housing to the community. Our commitment to provide quality affordable housing will make Kulana Hale an important addition to Kapolei. This development is a result of years of hard work with our partners, Coastal Rim Properties, HHFDC, Citibank, Aegon, SVA Architects, American Savings Bank and LIIF. It takes a village to make a dream like Kulana Hale become a reality."
Founded in 2003, SVA Architects has become one of the Country's most innovative and respected design and planning organizations. The award-winning firm specializes in urban planning, architecture, and interior design of public, private, and mixed-use projects. Among the firm's portfolio are civic, educational, residential, commercial and mixed-use developments. SVA Architects values institutional and public environments as the foundation of a community and the backdrop against which we live, learn, work, worship, and play. The company is headquartered in Santa Ana with offices in Oakland, San Diego, and Honolulu. For more information, visit www.sva-architects.com.
Media Contact: Beth Binger
BCI
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SOURCE SVA Architects, Inc.
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