The Hawaii Community Development Authority voted 7-0 today to approve the building of a 177-unit luxury condominium tower on the parking lot makai of the Ward Theatres  and a 318-unit tower on the site of Pier 1 Imports.

With unobstructed ocean views overlooking Ala Moana Beach Park and Kewalo Basin boat harbor, the larger of the two towers is expected to command prices that will reach or exceed several million dollars

Pier 1 will move to the new TJ Maxx building nearby to make way for the smaller of the two towers.

David Striph, senior vice president in Hawaii for the Howard Hughes Corp., the Dallas-based company that owns the 60-acre Ward Centers property, has said the two new towers are part of the first phase of a $7.5 billion Hughes Corp. master plan calling for 22 towers with up to 4,300 residential units replacing nearly all existing retail, warehouse and other buildings at Ward Centers over the next decade or more.