Moderate-income residents are showing an overwhelming interest in the second tower of the 801 South Street condominium project in Kakaako. The Honolulu Star-Advertiser reports that Jason Nishikawa, 801 South's lead broker and a vice president of real estate firm Marcus and Associates, said all buyers in Building B (the second tower) are local residents who intend to live in the building, and most are first-time homebuyers. The project's developer, Downtown Capital LLC, said that so far, buyers meeting income limits have signed purchase contracts for 347 of the tower's 410 units. Those results validate a claim by the developer that prices which range from $352,000 to $699,000 for one- to three-bedroom units, are within the reach of moderate-income residents. Some opponents of the project claimed that most units weren't affordable.
Posted April 29th, 2014 @ 1:39pm