Over the past year, Oahu industrial warehouse vacancy rates have steadily dropped to record low levels and are expected to continue to decline for the foreseeable future, potentially hitting less than 1% by the start of 2023.
There’s plans to turn a large office building in downtown Honolulu into a residential condominium. KITV 4’s Shanila Kabir reports, turning vacant office spaces into homes could help solve other problems in the area.
Mastermind Robert Kelley, Avalon Development Co. LLC vice president and project manager, is staking out many new West Oahu jobsites these days—a pair of industrial condominiums and Dreamhouse Center, home of the future charter Dreamhouse High School, to name just three. All are slated to break ground this year.
The Avalon Group, a development company, purchased the Davies Pacific Center in downtown Honolulu and plans to transform the office building into a residential condominium.
Young people used to be able to buy a small single-family home or townhome as the first step on their homeownership ladder, but today they are priced out of that market.
Christine Camp, Laura Kodama, Cayenne Pe‘a, Karen Seddon and Michelle Swartman are proving that it’s not a man’s world anymore. Most developers are men, but these women have earned a seat at the table despite challenges. They bring a different and valuable perspective, and have realized that the best way for others to join them is for women to support women.
Avalon was invited to share its view on the changing dynamics of the Hawaii’s Commercial Real Estate hosted by Hawaii Business with Chris Benjamin, CEO of Alexander & Baldwin (NYSE: ALEX), Christine Camp, CEO of Avalon Group, Jeff Lau of Kamehameha Schools Bishop Estate. Investment purchases in Hawai‘i’s commercial real estate market during 2021 exceeded pre-pandemic levels with $3.15 billion in sales volume, according to Colliers Hawaii’s year end investment report. Join us in downtown Honolulu as we discuss the impact that commercial real estate will have on our local economy and community.
Being one of the most prolific industrial land developers on the islands, Avalon was invited to share its insights on the future of logistics in Hawaii hosted by the Urban Land Institute. The post-pandemic industrial land grab in Hawaii and across the globe is not over. With e-commerce representing only 14% of total retail sales, we will take a look at how this ever-increasing demand driver will impact the industrial market across the globe, in particular supply-constrained markets like Hawaii.
Why is everything in Hawaii so darn expensive???! Having developed projects that were considered impossible to develop and being recognized as developer of the year by multiple industry groups (NAIOP, General Contractors Association, BIA, and Building Industry Magazine), Avalon spoke on the negative impacts of regulations that have constrained the supply of housing as well as to provide thought leadership on what to do to help ease the supply crunch. Join us in-person at Halekulani Hotel or online via Zoom as we investigate this question.
Located on Avalon’s 3-acre, master-planned Kapolei Pacific Center and will be anchored by DreamHouse Ewa Beach, a public charter school.