POSTED: 05:24 p.m. HST, May 01, 2014
LAST UPDATED: 06:18 p.m. HST, May 01, 2014
A bill clearing the way for as many as 1,500 residential units and commercial-business space in a five-tower redevelopment of the Kamehameha Drive-In site across from Pearlridge Center was signed into law by Mayor Kirk Caldwell Wednesday.
Bill 68 was approved by the City Council on April 16 by a 9-0 vote, although some members raised concerns about how much affordable housing the mixed-use Live Work Play 'Aiea project will provide for the area.
Supporters say the $766 million project by Robertson Property Group is the first to be integrated with one of the city's Transit Oriented Development sites, the major hubs along the under-construction $5.26 billion rail project.
Supporters also point out that the developer is required to place a minimum of 30 percent of its residential units in the affordable-housing category to be set aside for families making as little as 60 percent of Oahu's median family income.
At least half the affordable units must be on the project site, and the rest must be either within a half-mile radius of the Pearlridge station or within any of the other transit hubs planned along the 20-mile rail route.
Units outside the Pearlridge area, however, must be rentals.
Caldwell and the developer still must sign a development agreement in the next 30 days.
The rezoning allows for three of the five towers to be as tall as 350, 300 and 250 feet. Two others can be up to 150 feet. The current height limit for the area is 60 feet.
To address concerns about traffic, Robertson has promised several million dollars in improvements including a new road that cuts through the project from Moanalua Road to Kaonohi Street.