New law OKs 5-tower project on former drive-in site

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 Kaonohi Street from Pearlridge Center was signed into law Wednesday by Honolulu Mayor Kirk Caldwell.

Bill 68 was approved by the City Council on April 16 with 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.

The $766 million project by Robertson Property Group has been hailed by supporters as the first to be integrated with one of the city’s Transit Oriented Development sites, the major hubs along the planned $5.26 billion rail project.

Supporters also point out that the approval requires the developer to place a minimum of 30 percent of its residential units in the affordable-housing category.

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 must still 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.