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Developer of Ritz-Carlton Waikiki project may buy adjacent land for second tower

July 3, 2013 Destination Hawaii No Comments Email Email

egtmedia59Pacrep LLC, which is developing The Ritz-Carlton Residences, Waikiki Beach, condominium hotel project, is considering the purchase of nearly an acre of land adjacent to the project for a possible second tower.

The Honolulu Star-Advertiser reports Pacrep, which disclosed the possibility in a disclosure document provided to condo buyers, is looking at the adjacent vacant lot on Kuhio Avenue owned by Food Pantry Ltd., an affiliate of Foodland Super Market Ltd.

Pacrep said earlier this week that the Ritz-Carlton project was 85 percent sold following a weekend sales event that drew buyers from Tokyo and Shanghai.

Edited by : Bill Hurley

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