Master Plan for Honolulu’s Kakaako Approved!
January 22nd, 2009 categories: Neighborhoods, The Market
With the recent approval of their master plan, General Growth Properties has taken another step toward revitalizing Honolulu’s Kakaako area. The Honolulu Star Bulletin reported the following.
What is does this mean to the long term health of Honolulu’s real estate market? I believe it is all good! Currently, Kakaako has been an area that has no continuity, an auto mechanic’s operation can be doors away from a store or a restaurant. When it rains, many parts of the area have deep pools of standing water and it can be treacherous area in which to drive. It has needed a change of direction for many years.
As the area is revitalized, you will see higher quality structures and more homogeneity in uses. This means it will tie in better with the surrounding neighborhoods and should lead to higher real estate values for everyone (good if you own, bad if you are a renter). Given Kakaako’s proximity to down town Honolulu, the legislature, City Hall, Ala Moana Shopping Center and Ala Moana Park, this may be a great time to buy for long term appreciation.
Feel free to call me at 808-737-2093 or toll free at 877-737-2093 to discuss taking advantage of this area’s opportunities.
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