1568 Pensacola St., Honolulu HI 96822

In Permitting
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90 Units Bill 7 Affordable Housing Development
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1568 Pensacola St., Honolulu HI 96822

Multi-family

Property Type

No year data

Year Built

32 parking space(s)

Parking

18043 sqft

Lot Area

No

Studios

80

1 Bedrooms

10

2 Bedrooms

This is undoubtedly the largest project we’ll undertake in our Bill 7 venture. The 90-unit building will span two adjoining parcels, necessitating a Joint Development Agreement (JDA) with the City and County. Oceans Capital LLC initially acquired one of the lots in March 2021. A year later, the adjacent lot became available, prompting our decision to acquire it to leverage economies of scale.

Due to the size of the apartment, we opted to construct a podium and designate the ground floor for 32 parking stalls, a meeting room, and a leasing office. Two elevators will serve each floor, accommodating the 18 units.

This is our first building in the project to include 2-bedroom units, with two on each floor. An additional noteworthy aspect is the “U” shape of the building’s footprint. Initially a requirement of the general contractor, we anticipate it will create a pleasant courtyard ambiance, with natural light filtering in from above.

If you’re local, you’re likely familiar with the towering banyan tree on the corner of Pensacola St. and Wilder St. This iconic tree has stood watch over the intersection for decades.  Instead of cutting it down to increase building space, we decided to preserve it. We’re planning to transform the corner into a gathering space for tenants to relax under its shade. We affectionately refer to this apartment as “Makiki Banyan”.

Features

Air conditioning, Electric

32 parking spaces

Disposal

Microwave, Refrigerator, Microwave Hood, Range with Oven

High Ceilings

Dedicated workspace

6 levels/stories

Elevator

Video Tour

Contact agent

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