Chinatown condo project moves forward
By James Gonser
Advertiser Urban Honolulu Writer
A new condominium project on Nu'uanu Avenue in the Chinatown Special Design District is moving forward with the release of a draft environmental assessment today, but the developer says the odds of the tower ever being built are about 50-50.
Artist's rendering courtesy Intracorp
Intracorp San Diego President Keith Fernandez said his company is still studying the feasibility of the project and went ahead with the environmental assessment so it would not lose any time in escrow with property owner Bank of Hawaii.
The feasibility of the proposed 800 Nu'uanu Condominiums project, as seen in this artist's rendering, is still being studied despite the release of a draft environmental assessment today. The 21-story, 189-unit building would take up an entire one-acre block in the Chinatown Special Design District.
"The construction costs are high, and we are still trying to assess where the revenue will be," Fernandez said. "We are waiting for some revised construction numbers."
The Intracorp project is one of three residential high-rises in the planning stages in downtown/Chinatown, but all face either financial or planning obstacles and may never be built.
Bank of Hawaii, which had shelved its plan to build an office tower on the Nu'uanu site, has been trying for about three years to sell the property, which is valued at $7.7 million by the city.
According to the environmental assessment, the project, called 800 Nu'uanu Condominiums, would take up the entire one-acre block bounded by Smith Street, Nimitz Highway, Nu'uanu Avenue and Marin Street in the makai precinct of the Chinatown special district.
The 21-story building would have 189 condominium units with three-and-a-half levels of parking and ground-floor retail space. The tower would be 220 feet tall, 30 feet less than the 250-foot limit in the area.
• To comment on the draft environmental assessment for the 800 Nu'uanu Condominiums project, write to Intracorp, 600 B St., Suite 1500, San Diego, CA 92101, Attn.: Michael Brekka. Include copies for the city, consultant Belt Collins Hawai'i and the state Office of Environmental Quality Control.
The one- and two-bedroom fee simple units would sell for $300,000 to $600,000.
Public comment
Fernandez said a decision on moving forward will be made in the next 60 days to 90 days.
Estimated construction time is about 30 months, with completion expected by mid-2006.
A public hearing on the project will be triggered when the developer files an application for a permit under the requirements of the Chinatown Special District, said Anthony Ching, of the city Department of Planning and Permitting, Urban Design Branch.
Another project has been proposed by a group called Downtown Affordables, which plans a 23-story building with 251 one- and two-bedroom units on North King Street where the 'A'ala parking lot sits.
The third project is a $35 million, 13-story elderly affordable housing residence near the historic O'ahu Railway & Land Terminal building financed through the state Housing and Community Development Corp.
Both developments could be killed or forced to redesign if a proposed expansion of the Chinatown Special District is approved by the City Council.
The bill seeks to expand the district by 20 acres into Iwilei, adding 'A'ala Park, the OR&L train station and the Tong Fat Co. building on North King Street.
The plan would reduce the building height limit from 150 feet in one area and 200 feet in another down to 80 feet.
The 800 Nu'uanu Condominiums project would not be not affected by the expansion and new height limits.
Downtown Neighborhood Board Chairwoman Lynne Matusow said there is a demand for more housing downtown but she would like to see some three-bedroom condos to encourage young families to remain in the area.
Reach James Gonser at jgonser@honoluluadvertiser.com or 535-2431.
