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September 25, 2024ProsPac’s Kali‘u Ala Moana Advances with HCDA Approval
ProsPac Holdings today announced the Hawai‘i Community Development Authority approved its plans for Kali‘u Ala Moana, the next redevelopment project at 728 Ala Moana Boulevard in Our Kaka‘ako. Named to honor the cultural and historical significance of this region, which was once salt basins, Kali‘u means “well-seasoned.” The 400-foot building will add nearly 300 residences, 42,000 square feet of commercial space and community spaces to the Kaka‘ako neighborhood.
“Kali‘u Ala Moana will offer quality homes and amenities to complement the increasingly thriving Kaka‘ako neighborhood,” said William Chen, vice president of ProsPac. “We’re grateful to the Hawaii Community Development Authority for advancing Kali‘u and look forward to contributing to Kamehameha School’s vision for this vibrant master-planned community.”
Designed by award-winning, Honolulu-based architecture firm Design Partners Incorporated, Kali‘u Ala Moana includes a mix of one-, two- and three-bedroom homes and wellness-focused amenities like a spa room, fitness center, infinity pool, a pickleball court and more for residents. Ground-level commercial space, bicycle parking, and enhanced streetscape will create additional public benefits and an improved pedestrian experience. The project team also features interior design by Seattle-based firm Olson Kundig, locally-owned contractor Albert C. Kobayashi, Inc., and exclusive project broker Heyer and Associates, LLC.
“Our Kaka‘ako continues to evolve into one of the most desirable places to live, work and visit in Honolulu,” said Kamehameha Schools commercial real estate director of planning and development Pualani Hao. “ProsPac’s vision for Kali‘u Ala Moana reflects the culture, values and progressive spirit of this special neighborhood and will contribute greatly to our mission of educating Native Hawaiian keiki.”
In addition to new homes and retail space, Kali‘u Ala Moana is estimated to deliver $500 million in economic impact, creating 237 net new jobs and more than $30 million in total state and federal tax contributions.
ProsPac anticipates launching sales in early 2024, with construction beginning later next year.
For more information, please visit https://www.kaliualamoana.com/.