HONOLULU (KHON2) — The redevelopment of a “long-neglected” property in Waikīkī is on a journey to become affordable housing for local residents, the City and County of Honolulu said.
The property, which is located at 1615 Ala Wai Blvd., is set to be completely demolished by the first week of August, which is weeks ahead of the initial schedule.
The city has also chosen a preferred negotiating partner for the property’s redevelopment, with Centre Urban Real Estate filling that role.
“The selection of a qualified development partner marks an exciting new chapter for 1615 Ala Wai, and a proud moment for our city’s efforts to address long-standing challenges,” Honolulu Mayor Rick Blangiardi said.
Centre Urban Real Estate takes a “community-first approach to development,” the city said. Officials say the company has a history of emphasizing high-quality design, sustainability and more.
“We have taken this site from decades of vacancy and blight to a point where we can now reimagine its future. This project represents our administration’s commitment to delivering housing that serves local residents and strengthens our communities.”
Blangiardi also stated that the community that lives in the area of the development would be consulted to ensure local satisfaction.
“Just as importantly, we are committed to engaging with the Waikīkī community every step of the way to make sure we get this right for the people who live and work here,” he said.
City officials, such as Director Designate Kevin D. Auger from the Department of Housing and Land Management, say that the project shows a brighter future for the greater community.
“This project represents an opportunity to finally turn the page on a long-vacant and deteriorating property at the gateway to Waikīkī. We look forward to working with Centre Urban Real Estate and the community to shape a plan that is sensitive to its surroundings and delivers lasting value through quality, affordable housing.”
Martin M. Q. Nguyen, Centre Urban Real Estate’s principal, shared his pride in helping rejuvenate the property, citing his Hawaiʻi ties as a driving force.
“As a local boy, I’m especially proud to be part of a team bringing forward a vision that reflects the natural evolution of the 1940s-era walk-up that has long stood on this site — an opportunity to pay homage to the past while addressing the pressing housing needs of today,” Nguyen said. “We are committed to being rightful stewards of this transformation, delivering high-quality, affordable housing in Waikīkī…”
For more information on the redevelopment project, visit the city’s website.