HONOLULU — The city has completed acquisition of a pair of properties in Iwilei and Downtown that will play key roles in its plan to expand affordable housing, complete streets and new connectivity to the Kuwili Skyline station in Honolulu. 

What You Need To Know

  • In what the mayor’s office hailed as a “momentous” transaction, the city closed on $51.5 million deal for the Iwilei Center, located on a 3.8 acre parcel at 866 Iwilei Road, 850 Iwilei Road and 505 Kaaahi Street

  • The property, identified as an “activity node” in the Downtown Neighborhood Transit-Oriented Development Plan, sits adjacent to the planned Kuwili Skyline station

  • The city also completed a $8.4 million purchase of the First Hawaiian Bank building at 445 N. King Street, which was identified in the Downtown Neighborhood TOD Plan as a site of “critical infrastructure” that will support future affordable housing and TOD projects

  • Blangiardi assured minimal disruption to business operations and said the city will provide relocation assistance to qualified tenants

“Residents across O‘ahu have made clear that the availability of affordable housing is among their most important priorities, and we are excited about the opportunities these two key strategic properties present for future development, especially within walking distance of our rail system,” said Honolulu Mayor Rick Blangiardi in a statement issued on Friday.

In what the mayor’s office hailed as a “momentous” transaction, the city closed on $51.5 million deal for the Iwilei Center, located on a 3.8 acre parcel at 866 Iwilei Road, 850 Iwilei Road and 505 Kaaahi Street. The property, identified as an “activity node” in the Downtown Neighborhood Transit-Oriented Development Plan, sits adjacent to the planned Kuwili Skyline station.

In a news release, the administration said the property will stimulate and guide development of the Iwilei area.

The city also completed a $8.4 million purchase of the First Hawaiian Bank building at 445 N. King Street, which was identified in the Downtown Neighborhood TOD Plan as a site of “critical infrastructure” that will support future affordable housing and TOD projects.

“The acquisition of these properties is a tremendous accomplishment because not only will it increase opportunities for the development of affordable housing for our residents, but the Iwilei Center parcel will improve connectivity between communities by linking Iwilei with Kalihi, Palama, and Liliha,” said Honolulu City Council member Radiant Cordero, who chairs the council’s budget committee.

Blangiardi assured minimal disruption to business operations and said the city will provide relocation assistance to qualified tenants. The city will honor current leases for tenants at the Iwilei center. The FHB property is vacant.

“We will continue to be aggressive with regard to our plans for affordable housing development,” Blangiardi said. “As rail construction progresses further into the heart of Honolulu’s urban core, we must take advantage of opportunities like this to transform our housing landscape and provide vital spaces to live for future generations on Oahu.”

Michael Tsai covers local and state politics for Spectrum News Hawaii. He can be reached at michael.tsai@charter.com.