HONOLULU, HI - OliverMcMillan, a real estate development firm known for creating artistic, enduring, city street-oriented destinations, announced that approximately 70% of the available residences were sold within the first two days of sales at its newest luxury mixed-use development, Symphony Honolulu. The project is located at the corner of Ward Avenue and Kapiolani Boulevard, at 888 Kapiolani Boulevard.
Designed on 3.35 acres, Symphony Honolulu is a 45-story residential high-rise offering 388 condominium residences, a luxury auto galleria, expansive recreation deck, fashion boutiques and restaurants. The residences feature sweeping panoramic views, abundant amenities and contemporary design in the heart of Honolulu’s Kapiolani corridor.
“Together with our partner JN Automotive, we are so pleased with the great response to Symphony Honolulu,” said Dene Oliver, CEO of OliverMcMillan. “We’ve worked hard to make a unique property that adds to the growing allure of the Kakaako neighborhood.”
The luxury auto galleria on the ground floor will be the location of JN Automotive Group, Hawaii’s exclusive authorized dealer for some of the world’s finest automobiles. The high-end space will feature international brands such as Ferrari, Maserati, Bentley, Lamborghini, Audi, and Lotus as well as fashion boutiques, restaurants, and exhibits.
The building includes 288 market-priced residences and 100 reserved housing units. The market prices range from the low $500,000s for one bedroom, mid $600,000s for two bedrooms, and high $800,000s for three bedrooms. Reserved units are for buyers who meet income and asset requirements set by the Hawaii Community Development Authority (HCDA) and will be available for sale in the fall.
The residences average 1,000 square feet, and the property’s planned amenities include an open-air recreation deck, infinity pool and spa, wellness center, state-of-the-art fitness and yoga studios, private multimedia theater rooms, guest suites, and entertainment cabanas for outdoor dining.
“The response to our project indicates there is a strong demand for homes in the core of Honolulu,” said Dan Nishikawa, president of OliverMcMillan Pacific Rim, the developer of Symphony Honolulu. “We are looking forward to residents enjoying the incredible location, expansive views, beautiful design and the variety of amenities we have planned for this condominium tower.”
The project architects are Gensler, a global design firm, and Architects Hawaii, an award-winning luxury design firm based in Oahu. Nordic PCL is the General Contractor and the lead construction lender is First Hawaiian Bank.
The building has been designed to LEED efficiency standards, featuring solar energy, electric vehicle charging stations, gray water reclamation and an energy-efficiency education center.
Construction is expected to begin at the end of 2013 on a two-year schedule. The project will create 400 jobs for construction workers and those in related industries, and job creation won’t end when the building is completed, as the auto galleria is expected to add 100 positions.
OliverMcMillan previously acquired Pacifica Honolulu, a 48-story, 489-unit condominium project that was partially completed until stalling in 2009. The company substantially redesigned the project and brought it to a successful completion at the end of 2011.