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Kamehameha Schools to sell Ala Moana Blvd properties

By Star-Advertiser Staff

LAST UPDATED: 01:51 a.m. HST, Sep 19, 2013

Kamehameha Schools said it is selling two Kakaako blocks fronting Ala Moana Boulevard to MK Development, a joint venture of Kobayashi Group and The MacNaughton Group, to develop two luxury condominium towers with a combined 500 units.

A spokesman for Kamehameha Schools said the trust is selling "Block H" and "Block I" on Ala Moana Boulevard just Diamond Head of Cooke Street.

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MariaBetty wrote:
Just what we need, more luxury condo's for working people.
on September 18,2013 | 04:14PM
grantos wrote:
Blocks H and I are Jaguar/Land Rover, OfficeMax, Cutter Mazda and Cutter Chevrolet
on September 18,2013 | 04:17PM
islandsun wrote:
Why, those are appreciating locations? Somebody is getting a cut for the push.
on September 18,2013 | 04:22PM
false wrote:
To be honest, that area now is an eyesore. Let's see what's on the drawing board. I prefer luxury buildings over car dealerships.
on September 18,2013 | 04:53PM
aomohoa wrote:
So the car dealerships can just be kicked out. Is that really fair?
on September 18,2013 | 07:47PM
Kuihao wrote:
Yes, it's fair. They have leases from Bishop Estate which are being honored, but not renewed.
on September 18,2013 | 11:04PM
Hapa_Haole_Boy wrote:
The inevitable and beneficial gentrification of Kakaako continues....
on September 18,2013 | 04:35PM
64hoo wrote:
two new condos and a total of 500 units looks like time to dig up ala moana blvd. during the day so they can lay new pipes for the condos 2 right lanes will be closed for construction, don't drive that way if you are going home. backed up traffic.
on September 18,2013 | 05:13PM
Kyle_K wrote:
When you walk or drive past that section of Ala Moana Blvd. you can often smell an odor coming up from the underground sewer system. I can imagine how it's going to be with all those additional toilets flushing.
on September 18,2013 | 05:33PM
saywhatyouthink wrote:
The developer rush to cash in on Kakaako is going strong.
on September 18,2013 | 05:36PM
Tony91 wrote:
Oh, those lovely graffiti covered buildings sponsored by KSBE won't be staying? What a shame.
on September 18,2013 | 06:09PM
Tony91 wrote:
My gosh, they are selling off the Aina! About time. KSBE has too much of their assets concentrated in Hawaii real estate. It may be a matter of time before someone sues for a breach of fiduciary duty by not diversifying the asset portfolio enough. If this were any other trust with over 75% of assets in non-performing real estate assets, they would have been sued by the beneficiaries long ago. Only in Hawaii can they be sued for actually selling off these assets.
on September 18,2013 | 06:13PM
kailua000 wrote:
KSBE doesnt care, come on. ONly when its beneficial to them. I would have appreciated it more if they fixed up the area rather than sell it.
on September 18,2013 | 07:07PM
Tony91 wrote:
Well if that were the case KSBE would have sold most of their property a long time ago. The reality is that KSBE has thousands of acres free of leases for a long time but has only recently lifted a finger to develop it due to internal politics. KSBE should not be risking corpus by playing developer. Selling these properties, and hopefully many more, is a good step in diversifying their portfolio.
on September 18,2013 | 08:37PM
kailua000 wrote:
No worries, put the car dealers out of business, move them to a different location, people will lose jobs, just to build more luxury condos for RICH epople...not working people. Us working people cant afford what they put up down there.
on September 18,2013 | 07:06PM
Tony91 wrote:
Yeah, because the jaguar, land rover and porsche dealer will go out business and they cater their products to the working people. Oh yeah, I guess rich people don't work either?
on September 18,2013 | 08:44PM
AIEA25 wrote:
on September 18,2013 | 07:19PM
HonoluluHawaii wrote:
What was the selling price? Nineteen dollars and 95 cents?
on September 18,2013 | 10:38PM
zhk8o8 wrote:
progress or regress? the idea or definition of a 'Hawaiian way of life' is being replaced by the desires of modern convenience....so ask yourself, do you seek prostitution or restitution? what is your idea of paradise? there will be a future and you do have a voice and may Kam be damned if they refuse to listen to their constituants' majority vote.
on September 18,2013 | 10:59PM
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