Buyers await their shot at luxe Ala Moana condo

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GEORGE F. LEE / GLEE@STARADVERTISER.COM
About 40 hopeful buyers of Park Lane Ala Moana owner-occupant units were offered a bite to eat Friday as they stood in line at the sales offices at the Hokua condo tower. Honolulu resident Ed Wayne said he had been waiting for about five hours and that 30 others had been processed ahead of him. Half of Park Lane’s units, 107 in all, are reserved for owner-occupants; most of the rest of the residences have been sold.

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COURTESY AMX?PARTNERS LLC
An artist rendering shows Park Lane Ala Moana’s condo towers, which are being built on the makai side of Ala Moana Center.

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Owner-occupant sales for Park Lane Ala Moana, the condominium towers being built on the makai side of Ala Moana Center, will begin Saturday at 8 a.m.

Several dozen prospective buyers stood in line Friday at the sales office on the ground floor of the Hokua tower.

Park Lane Ala Moana consists of seven six-story buildings with 215 units, ranging from 850-square-foot one-bedroom residences to 6,000-square-foot five-bedroom penthouses. It has two underground parking levels. Prices for one-bedroom units start at $1.19 million and go up to $28 million for the five-bedroom penthouses.

Half, or 107 of the units, are restricted to owner-occupants. The other 108 units are unrestricted; most of those have been sold since sales began in November, the developers said.

The condos are being built by AMX Partners LLC, which is made up of The MacNaughton Group, Kobayashi Group and BlackSand Capital LLC, along with landowner General Growth Properties Inc.

The developers broke ground in July and expect to complete a first phase of the project by late 2016 with the final phase being finished by the end of 2017.

Some residences will feature private pools, private enclosed garages and 1,100-square-foot lanais.

"We sought the input of more than 200 luxury home buyers from Hawaii and around the globe, incorporating their preferences into the design of Park Lane Ala Moana," said Bert Kobayashi, Kobayashi Group founder.

The Park Lane condos are being built at the same time as the expansion of Ala Moana Center in the area where Sears used to be. The expanded center is scheduled to be finished this year and will include the state’s first Bloomingdale’s department store.

The real estate broker for Park Lane is Heyer & Associates LLC.