A local developer plans to construct the biggest
building yet in the growing "second city" of Kapolei.
Avalon Development Co. LLC, through affiliate Kapolei
60 LLC, bought a 3-acre parcel across the street from
the Kapolei public library last week for $6.7 million,
where it plans to put up a 335,000-square-foot office
complex rising 11 stories.
The $180 million project called Kapolei Pacific
Center is expected to break ground in about eight months
and open in January 2009.
The developer cautioned that the project could be
killed if a City Council bill proposing a moratorium on
real estate development along the city's contemplated
mass-transit line is adopted.
The City Council postponed action on the proposal
"It could have killed the financial viability of our
project," said Christine Camp Friedman, Avalon president
A development moratorium could have prevented Avalon
from obtaining building permits, threatening the project
by creating a significant and potentially indefinite
"That would have a very negative impact on an area
that is supposed to be the second city and a place
(where) higher-density growth is encouraged," she said.
2 BUILDINGS PLANNED
Kapolei Pacific Center is designed as two buildings
and a parking structure with about 900 spaces. Of the
335,000 square feet, 285,000 square feet would be for
office tenants, and 50,000 square feet on the ground
floor would be for retail.
An initial phase would include one seven-story
building, followed by an 11-story second phase.
The project would be taller and bigger than other
Kapolei buildings, including Bank of Hawaii's
248,000-square-foot office building and the state's
office building with 215,000 square feet.
SHORT ON OFFICE SPACE
Based on square footage of leasable space, Kapolei
Pacific Center will be about as big as Alii Place, a
17-story downtown office tower that's 316,000 square
John Bilgrave, a vice president with commercial real
estate firm CB Richard Ellis Hawaii Inc., said the
project would create much needed space in O'ahu's tight
"We're literally out of office space," he said. "We
need office space period."
Friedman said the company responded to inquiries from
businesses seeking office space in Kapolei, and has many
letters of intent to lease space in the project.