Its first tower rejected, builder offers state Plan B

A developer whose plan for a condominium tower called 803 Wai­manu in Kakaako received an unfavorable response from a state agency in July has returned with a new plan for a smaller residential building on the site.

MJF Development Corp. has submitted an application with the Hawaii Community Development Authority to develop a seven-story building with 153 units on the site at 803 Wai­manu St.

The new plan represents a dramatic downsizing compared with the original 27-story tower with 192 units. That original plan drew lots of opposition from residents in the Imperial Plaza condo tower next door because MJF’s tower was proposed to be taller and closer to the Imperial Plaza than permitted by HCDA standards.

The original 803 Wai­manu project was proposed to rise 250 feet, or 185 feet above the 65-foot height limit for the property.

MJF, which is headed by Franco Mola, was allowed to ask HCDA for closer spacing and additional height because the tower was proposed under HCDA "workforce housing" rules geared to provide housing at moderate prices without any financial assistance from the county, state or federal government.

The HCDA, the state agency regulating development in Kaka­ako, recommended that its board reject MJF’s tower plan. But before the board voted, the developer withdrew his application and vowed to return with an alternate plan.

The new 803 Wai­manu plan, according to the permit application, conforms to all HCDA development rules. Much of the building would be built right up against the parking garage of Imperial Plaza, while the top three floors would be separated from residential units in a midrise portion of Imperial Plaza by a recreation deck.

Pam Wood, an Imperial Plaza resident who reviewed the new plan, said the developer took some concerns of residents into account and has proposed "a much more livable" project.

Mola could not be reached for comment Monday.

Most units in the midrise 803 Wai­manu — 117 of 153 — would be 384-square-foot studios. The remainder would be one- and two-bedroom units.

Under HCDA rules, 20 percent of the total space for residential units must be affordable to residents earning no more than 140 percent of Hono­lulu’s median income, which equates to about $84,574 for a single person or $96,656 for a couple.

MJF said in its application that it would satisfy the requirement by selling or renting 24 units. The developer did not include rental or sale prices for the project in the application.

MJF also requested credits for any other units in the project that meet the moderate-priced housing parameters. Such credits could be sold to other developers to satisfy moderate-priced housing requirements.

Parking in the project would include 92 stalls, many of which would be in a mechanical lift system.

The HCDA has scheduled a public hearing at which MJF will make a presentation on the project for noon Nov. 6 at its office conference room at 461 Cooke St.

A second public hearing, after which a decision is slated to be made by the HCDA’s board, is scheduled for noon Jan. 8 at the same location. Public testimony will be accepted at both hearings.