$14M renovation creates ‘beacon’ on boulevard

The nearly 50-year-old 677 Ala Moana office building originally known as the Gold Bond Building has a largely new look following a $14 million face-lift.

The owner of the 12-story building held a blessing Tuesday to celebrate the completion of renovation work that included adding sections of exterior glass panels that are backlit at night and converting two ground-floor corners of the building from office space to open-air entryways leading to a new lobby.

"We wanted to create a beacon," said Dale Wat­chow­ski, president and CEO of Michigan-based real estate development and investment company Redico, which bought the building in 2007 for about $50 million.

The renovation was announced in 2013 after Redico extended its lease for the ground under the building with landowner Kame­ha­meha Schools from 2039 to 2079.

Watchowski said the renovation was challenging but is paying off with increased occupancy, especially as residential and retail redevelopment proj­ects under the Our Kaka­ako master plan by Kame­ha­meha Schools advance on the mauka side of Ala Moana Boulevard.

Redico has improved occupancy at 677 Ala Moana to about 85 percent from about 70 percent with new tenants that include Cutter Automotive Galleries, Xerox and Pono Pacific Land Management.

CLARIFICATION: An earlier version of this story and the story in the print edition said new tenants included Cutter Cars. The correct name is Cutter Automotive Galleries.