Next Ward Village condo tower about to rise

The developer of Ward Village in Kakaako anticipates starting construction on another condominium tower by the end of the month.

Howard Hughes Corp. plans to start building Victoria Place on part of the former Ward Warehouse site fronting Ala Moana Boulevard after maintaining sales momentum in the planned 349-unit high-rise with average unit prices over $1 million.

The company said in a financial report released Thursday that it sold 19 Victoria Place units in the fourth quarter, up from 13 in the third quarter and 11 in the second quarter.

Another 13 sales were made this year through Feb. 19, the report said.

Most Victoria Place unit sales happened before the onset of the coronavirus pandemic. Sales began in December 2019, and Hughes Corp. racked up 225 sales over just a few months through March 2020.

As of Feb. 19 the sales total is 281, or 80.5% of the tower.

Hughes Corp. in 2019 estimated that construction of Victoria Place could begin as early as last year, though a decision would depend on sales results.

In Thursday’s report, Texas-based Hughes Corp. called Victoria Place its “fastest selling” tower at Ward Village to date.

The company has delivered four towers with a combined 1,382 homes. Two more with a combined 1,317 units are under construction. Victoria Place would be the seventh tower at Ward Village.

Hughes Corp. also has sought approval for two more towers that could start rising in the second half of next year.

The developer has a state- approved master plan envisioning 16 towers and 4,500 homes along with public parks and 1 million square feet of retail on 60 acres.