Construction Nears for Island Paradise Investments’ $75M Senior Care Community in Waikiki
- Aug 29, 2014
by Adriana Pop, Associate Editor
Island Paradise Investments of San Francisco will soon break ground on a $75 million, 17-story senior living facility at the entrance to Waikiki on Kalakaua Avenue.
According to Senior Housing News, the Kalakaua Garden will offer 106 assisted-living units, 32 memory care units and 49 skilled nursing beds.
The building will be located at 1723 Kalakaua Ave., across from the Hawaii Convention Center and adjacent to Ala Moana Beach Park.
Amenities will include a garden and water feature on the ground floor, a fourth-floor courtyard, a 1,800-square-foot outdoor exercise area on the sixth floor, as well as a library, fitness center, rehabilitation facilities and common and semi-private dining options.
Island Paradise Investments’ original plan in 2008 called for a residential condominium, but the project stalled in the recession. In 2011, the company opted to develop a senior care community on the site instead.
“The year 2008 marked the beginning of the recession and was the same year that the Kalakaua Garden first began to sell units for the condominium,” Mark Tacazon, assistant marketing manager for the property’s general contractor Swinerton Builders, told Senior Care News. “Also, over the next several years, Hawaii was experiencing the over saturation of newly constructed high-rise condominiums which drove the price up for construction costs and further delayed the project.”
Island Paradise Investments’ project team includes general contractor Swinerton Builders, of San Francisco; HPL Development L.L.C., of San Mateo, Calif.: and Honolulu-based Architects Hawaii Ltd.
Construction is expected to be completed in late 2015.
According to Louis Leong, vice president of HPL Development, the new community’s rental prices will be higher than rates on the mainland, but comparable to prices at similar local properties.
Photo credits: Architects Hawaii