Chinese developers are moving forward with a new mixed-use condo project on Keeaumoku across from Walmart. Prospac holdings is an entity of Chinese developers looking to build at least 2 new mixed-use projects. The other being on the other side of Walmart on Makaloa street.
UPDATED: April 17, 2017
Califonia Investment Regional Center LLC has purchased the acre lot at Makaloa Street for $23 million. Hawaii Ocean Plaza LP plans to build the mixed-use project. The 40-story will have 207 condo units and 200 hotel rooms with commercial space totally 16,261 square feet.
The development is being financed through the EB-5 immigrant visa program. The program allows for an investment in exchange for an avenue to become a legal resident of the United States. The goal of the program is to allow for investment and job creation.
This same group is also developing another condo nearby on Sheridan Street.