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The Honolulu Advertiser
Posted on: Friday, March 26, 2010

Kapi'olani high-rise project stirs

Advertiser Staff

Hawaii news photo - The Honolulu Advertiser

Dan Nishikawa, left, Morgan Dene Oliver, center, and Kumu Karl Veto Baker untied a maile lei during the blessing ceremony for the revived Pacifica Honolulu condominium project yesterday at 1009 Kapi'olani Blvd.

NORMAN SHAPIRO | The Honolulu Advertiser

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The new developer of the partially built condominium high-rise at 1009 Kapi'olani Blvd. held a ceremony yesterday to mark the resumption of major construction on the 46-story tower.

Work on the project is starting with about 50 to 75 workers and is scheduled to ramp up to a peak of around 400.

Yesterday's blessing was attended by project officials, dignitaries and many of the roughly 200 buyers who have committed to purchase a unit in the 489-unit tower makai of McKinley High School.

Original developer KC Rainbow II LLC ran into trouble with the project then known as Moana Vista when a roughly $100 million construction loan needed to finish the tower was withheld because too many buyers canceled nonbinding reservations for units. Construction was halted in November 2008.

San Diego-based OliverMcMillan acquired the stalled project in October, renamed it Pacifica and resumed sales last month.