Development in Ala Moana-Kapiolani corridor stalls [Yahoo! Finance]
JARDINE MATHESON UNSP/ADR (JMHLY)
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Source: Yahoo! Finance
For the first time in about a decade, construction cranes helping put up new high-rise buildings no longer stand in the area, after the most recent addition to the district—a two-tower complex called The Park on Keeaumoku—opened in September. One developer remains bullish on the region and anticipates beginning construction on a tower next year followed by more. But at least six high-rise projects, most of which received city development approvals in recent years, have been stalled. By comparison, condo tower development in adjacent Kakaako remains humming with several active projects. Dennis Lowery, who for the past two years has been running the Hula Dog Hawaiian Style Hot Dogs lunch wagon on Kapiolani Boulevard across from a defaced construction barrier for a planned $650 million residential and hotel condo tower called Mana ‘olana Place, chronicled the activity on the site where the start of construction was announced in late 2022. “It's just been a wall, ” he said, refer
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