This episode of PBN Dialogue catches up Hawaii President Doug Johnstone at an especially busy time for Howard Hughes Corp.’s Ward Village. Three new towers are underway, including Victoria Place delivering 350 homes next year, The Park Ward Village offering 545 homes when finished, and Ulana, a workforce housing development that will put about 700 units of reserved housing on the market.
“The exciting thing, where we are now, is it’s a bit of an inflection point for us,” said Johnstone, “where a lot of the spaces between the blocks or between the vertical projects is starting to come to life with parks and plazas and open space and streetscape changes.”
These include Victoria Ward Park, on the makai side of Auahi Street, and the added green space coming with the redevelopment of the former Sports Authority location into The Park Ward Village, which, despite its tower and 30,000 square feet of retail, will increase green space on the lot by 60%.
In our half-hour discussion, we covered the economics of reserved housing, the methods by which developers can control costs to bring prices down, and more.
This is the second in our quarterly series focused on development and commercial real estate, presented by Avalon Group.