Building Industry Magazine - April 2013 - (Page 6)

Holomua ConceptToCompletion Affordable, with Stylish Amenities R esidential units in Holomua, a 23-story affordable housing condominium, were initially offered for sale in 2009, but with Hawaii in an economic slump, including real estate, the project failed to attract enough buyers to proceed Glen Kaneshige with construction. “For a while we thought that project was dead,” recalls Glen Kaneshige, president of general contractor Nordic PCL Construction Inc., which had been selected in 2007 to provide designbuild services for Holomua. “The developers (KRC Partners LLC) were able to qualify for the (Hawaii Housing Finance and Development Corporation) 201H program (as a public-private venture) and there appeared to be interest from buyers, so we began updating the construction budget in 2010 with 6 | BUILDING INDUSTRY | APRIL 2013 the hope that the project would start sometime in 2011,” he adds. And this time buyers definitely were interested. According to reports, when sales began anew all 176 one- and two-bedroom units were sold within three hours; as many as 300 other potential buyers put their names on a list should one of the units become available. The project included units that ranged from 354 square feet to 752 square feet, with prices from $239,900 to $467,700.

Table of Contents for the Digital Edition of Building Industry Magazine - April 2013

FINANCE, BONDING AND INSURANCE
ECONOMIC ENGINES
BUILD WITH ‘GREEN’ WOOD
SUBCONTRACTORS ASSOCIATION OF HAWAII
Greenpath installs ground-mount PV system
Ness Turf opens in Kapolei
Bonterra Solar powers storage company
Coastal Construction completes St. Francis center
And the “Sweepsteaks” winner is …
Editor’s Corner
Datebook
Concept To Completion: Holomua
Contracts Awarded
Low Bids
Spotlight On Success: The Towers at Kuhio Park
Best Practices
New Products

Building Industry Magazine - April 2013