Holomua Condo Project Finally to Start at 1315 Kalakaua Ave. in Honolulu
According to InsuranceNewsNet.com online, "Ground has been broken for Holomua, a long-delayed 176-unit condominium project at1315 Kalakaua Ave., between Young and Beretania streets.Developer KRC Partners LLC partnered with local housing developerPeter Savio to relaunch sales of the units earlier this year and broke ground at the site Thursday after clearing several financial hurdles."
"Gov.Neil Abercrombie, top, held up the maile lei during a ceremony asKahu Cordell Kekoa, left,Dave Bierwert,Serge KrivatsyandKaren Seddonwatched. Prices range from$239,900 to $467,700; units have anywhere from 354 square feet to 752 square feet with one or two bedrooms and one or two bathrooms."
"At least 90 units must be reserved forHawaiiresidents who intend to live in the unit and who earn no more than 140 percent of Hono lulu's median income. Because the developers agreed to make most units affordable, they were allowed to build the tower to a height of 220 feet, or 70 feet above the neighborhood's normal 150-foot height limit."