Atkinson Drive Development

A future hotel or condo development

NEW HEIGHTS IN HONOLULU

A rare site in Honolulu finds itself in the center of current planned projects and future city economic plans. See why this project stands out among others.
OAHU ISLAND STATS
The island of Oahu is the most populous of all the Hawaiian islands and commonly referred to as ‘The Gathering Place’.

Island Statistics:

Population  – 991,788

Bachelor’s Degree or Higher  – 32%

Annual Median Income – $72,764

Low Unemployment Rate  – 3.5%

Monthly Visitor Count – 391,000-494,000 (190,000-233,000 international)

Average Visitor Stay – 6-7 days

ADR – $200+ for hotels in the area

Average Visitor Daily Expenditure – $193

2018 Projections – On track to see more than 9 million visitors

Average Air Temperature – 77.6°F

Average Water Temperature – 77°F

2016 Island of Oahu Stasc’s Per 2016 US Census & Other Reliable Sources.

INSTRUCTIONS: Click and drag to navigate the 360° view. Click on the “Magnifying Glass” to view a location.
INSTRUCTIONS: Use your finger to navigate the 360° view. Touch on the “Magnifying Glass” to view a location.

PRIME LOCATION

435 Atkinson Drive is located in the Ala Moana corridor and sites in the area are in high demand due to their scarcity and close proximity to a couple of Honolulu’s economic drivers, Waikiki and Ala Moana Shopping Center.

The site is within access to sailing at the Ala Wai Boat Harbor, swimming & exercising at Ala Moana Beach Park and nearby 24 Hour Fitness (and soon to be rebuilt YMCA), shopping & dining at Ala Moana Shopping Center and many nearby retailers and restaurants within walking distance.

There is also a variety of local and national grocery and drug stores within minutes of the site. It is within walking distance to the future Ala Moana rail station which will add another level of transportation from the airport and the Waikiki Trolley which can take riders to Waikiki within minutes as well as tour the island.

View Current Location

THE PROJECT

Incredible Value

  • Recognizable Tower
  • 350’ tall
  • Full floor capabilities
  • Ocean, Mountain, Diamond Head views
  • Quiet street while only steps away from the middle of the action
  • Hotel variant: 300+ hotel rooms
  • Condo variant: Residential condo “resales” in new developments with ocean views, selling between $2-4K psf.

Specifications

  • Address: 435 Atkinson Drive, Honolulu, HI 96814
  • Tenure: Fee Simple
  • Land Area: 23,629 SF. +/- SF.
  • Building Area: 10,999 +/- SF. (spread throughout 3 structures, 18 residential apt.’s & 5 commercial units)
  • Zoning: BMX-3 TOD interim permit process allows almost any proposed commercial use
  • TMK’s: 1-2-3-36-13, 14 & 35
  • Occupancy: 100% (redevelopment clause in leases)
  • Possible Buildable: 7.0 FAR (165,403 SF. of net floor area)
  • 2016 NOI: $220,000 (approximate)
  • Possible Height: 350 FT.
  • Use’s: Hotel, Timeshare, Senior Living, Mixed-Use Residential/Commercial, or Condotel (all achieved through the interim permit process or IPT-D)
  • Price: Make Offer

Condo variant

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Hotel variant

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TRANSIT ORIENTATED DEVELOPMENT

Transit-oriented development (TOD) is a pattern of different uses – housing, jobs and services – surrounding a transit station that takes advantage of the convenience and affordability of transit. A TOD neighborhood is vibrant, dynamic, and pedestrian- and bicycle- friendly. The City’s neighborhood TOD plans recommend more intense uses immediately adjacent to the stations, with progressively lower-density development spreading outward.

TOD generally occurs within a radius of one-quarter mile from a transit stop, as this is considered to be a comfortable distance for pedestrians. TOD incorporates a high level of design to attract residents, visitors and workers. It is also about more green space and public gathering places, safer streets, and less pollution and noise. It’s not a “one size fits all” plan – a successful TOD should be unique and sensitive to its host neighborhood, improving the community in ways that inspire pride.

Atkinson Drive is expected to be the quiet haven off the chaos of Kapiolani Blvd.

  • Kapiolani Blvd | Hectic Traffic, Unpredictable Developments 85%
  • Atkinson Drive | Off The Gridlock, Coveted Development 43%

TOD ALA MOANA

The Ala Moana district and station, part of a planned 21 station rail system, is one of the most urban and complex neighborhoods along the rail corridor. Its needs and opportunities are unique and particular to its place and its people. Ala Moana will become Honolulu’s most livable urban community and a model for encouraging walking, biking and transit usage.

The new rail station and surrounding TOD will include a mix of uses, spur redevelopment where appropriate, eliminate blight, and provide infrastructure improvements for increased safety, better mobility, and a sustainable environment. The Ala Moana neighborhood will embody cultural and income diversity, convenience, and the aloha spirit. 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

435 Atkinson Drive is well positioned for great public transportation being close to Honolulu’s soon to be finished rail system which will allow ease of access to downtown Honolulu, the airport, Pearl Harbor & Kapolei (the fastest growing City in Hawaii) all within 20 minutes. This jewel’s location is unmatched in Honolulu! Sheldon K. Glassco

Executive Broker, Newmark Grubb, CBI Hawaii

THE MARKET

Tourism Fact Sheet

2016 Annual Report

2016 Annual Report

Positive Economic Impact of Military

"AirAsia to increase flight frequency from Honolulu to Malaysia via Japan"

Pacific Business News

"DBEDT predicts accelerated economic growth for Hawaii in 2018"

Pacific Business News

"Honolulu only U.S. market to see decline in construction prices"

Pacific Business News

"Hawaii tourism sees visitor spending and arrivals increase in February"

Pacific Business News

"DBEDT predicts improved economy in 2018"

Department of Business, Economic Development & Tourism

"Outlook for the economy | 1st Quarter 2018"

Department of Business, Economic Development & Tourism

"Crane Watch Honolulu | A look at commercial real estate projects across Oahu"

Pacific Business News

"Ala Moana Center named most valuable mall in the U.S."

Pacific Business News

Let’s Talk

Don’t miss out on this rare development opportunity.

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