Developer gets $120M loan for Kakaako high rise - Hawaii News Now - KGMB and KHNL

Developer gets $120M loan for Kakaako high rise

Posted: Updated:
  • Most ReadMost ReadMore>>

  • Study shows instant ramen bad for the heart

    Study shows instant ramen bad for the heart

    Friday, August 22 2014 12:25 AM EDT2014-08-22 04:25:44 GMT
    Instant RamenInstant Ramen
    Its cheap and easy to prepare that's why instant ramen is such a staple for those low on cash and time.More >>
    Its cheap and easy to prepare that's why instant ramen is such a staple for those low on cash and time.More >>
  • Viral Video: Goliath grouper snags 4-foot shark from fisherman's line

    Viral Video: Goliath grouper snags 4-foot shark from fisherman's line

    A fisherman off the coast of Bonita Springs, Florida thinks he has a pretty nice catch. As he reels in a four-foot shark, his catch is stolen by an even bigger fish. A massive grouper pulls the sharkMore >>
    A massive grouper steals a four-foot shark from a fisherman's line off the coast of Florida.More >>
  • Man dubbed "Manoa Menace" arrested

    Man dubbed "Manoa Menace" arrested

    Friday, August 22 2014 3:01 AM EDT2014-08-22 07:01:06 GMT
    The man dubbed as the "Manoa menace" has been arrested, but not for harassing his Manoa neighbors.More >>
    The man dubbed as the "Manoa menace" has been arrested, but not for harassing his Manoa neighbors.More >>

HONOLULU (AP) - A developer planning a high-rise project near downtown Honolulu says it has secured a $120 million construction loan and plans to start building this month.

Developer Oliver McMillan said Monday it secured the loan for its 3.5-acre Symphony Honolulu project from lenders including First Hawaiian Bank. Three other lenders are also involved.

The project is in Kakaako, east of downtown Honolulu. Plans call for a tall, glass skyscraper with 288 market-priced condominiums and 100 lower-priced units for buyers who meet certain conditions set by the Hawaii Community Development Authority.

Officials say the project will generate about 400 construction jobs for the next two years and about 100 permanent jobs.

The project is expected to be completed in 2015.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.