Time to bring out the cranes?
One of the best economic indicators of a turn-around in real estate is when developers start to build! The past month has marked the announcements of the new Waihonua project by Alexander and Bladwin which will be 345 condominium residences in Kakaako. This is an interesting one as they will have to overcome the fact that there are sandwiched in between 5 other high rises as their neighbors! More at: http://www.waihonua.com Another project is The Cove Waikiki. Interestingly this project, too, is amongst some giant neighbors as it is essentially behind the Windsor building. However, this one is a low-rise project: http://www.thecovewaikiki.com On the flip side of this, the new proposed Hale Ka Lae in Hawaii Kai has been halted and deposits cancelled due to slow sales: http://www.staradvertiser.com/news/breaking/135068263.html?id=135068263 So we will see what the absorbtion rates are for these newer projects...
