Towers proposed for lot on Kapi'olani

By Andrew Gomes
Advertiser Staff Writer

KC Rainbow Development proposes building two glass-sided, oval-shaped towers of 353 units each, which would be the largest of four planned residential high-rises in Kaka'ako.

On the empty 6-acre block bordered by Kapi'olani, Pi'ikoi, Pensacola and Kamaile streets, the project would have three acres of open space, one acre of which would be landscaped, according to project architect Joseph Farrell, a principal with Architects Hawaii.

The condo, named Moana Pacific, also may include an 80,000-square-foot light industrial component for more service-related tenants compatible with residents. These might include a food catering company, a furniture manufacturer with a showroom, a beauty shop or a copy center.

Unit prices would likely start at around $500,000 and up. Other elements include tennis courts, golf putting and driving areas, a pool, gym and jogging track atop a five-story recreation deck.

Representatives of KC Rainbow, which is led by high-tech entrepreneurs Fred and Annie Chan, shared the details at an informational board meeting of the Hawaii Community Development Authority, the state agency considering a development permit for Moana Pacific.

Project coordinator Allen Leong said KC Rainbow presented its plan at a meeting of the Ala Moana-Kaka'ako Neighborhood Board last week and received no negative comments. Another presentation is scheduled next week with the Kaka'ako Improvement Association.

Neighborhood board member Larry Hurst, who lives on Elm Street four blocks away from the project site, said he likes Moana Pacific's design and doesn't think it will generate more traffic congestion. "I'd like to see that lot put to some use," he said.

Farrell said vehicle entrances were designed in the middle of the block on Pi'ikoi and Pensacola streets to keep Kamaile, a less traveled residential street, free from additional traffic.

A grille would adorn five levels of parking to keep noise and light within the structure. Monkeypod or other trees would line all four edges of the block.

A project rendering was not released so as not to run afoul of state rules that prohibit soliciting condo buyers before a project registers with the state.

The two towers would be built in separate phases, with the timing for the second tower depending on market demand. The light industrial component would be the third phase, and would only be built if appropriate tenants can be found.

Chan, through a company called Evershine X, bought the property in 1998 for $26 million with the idea that the site — a former Rainbow Chevrolet dealership slated for condo development by previous owner Asahi Jyuken — could become a research center.

The Kaka'ako development authority is expected to vote on whether to approve a KC Rainbow development application at a meeting next month.

Reach Andrew Gomes at agomes@honoluluadvertiser.com or 525-8065.