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3rd Nauru
tower planned

Developers may seek
OK for fourth building

By Russ Lynch
Star-Bulletin

The developers of the Nauru Tower and the more-recent Hawaiki Tower are preparing to build a third luxury condominium building on their Kakaako site of 17-plus acres.

Nauru Phosphate Royalties (Honolulu) Development Inc. has set the fall of 2001 as a tentative date to start construction of the new tower, which will be similar to the 456-story, $110 million Hawaiki Tower, said D. Scott MacKinnon, Nauru's Honolulu attorney.

In response to market demand, the apartments will be slightly larger than those in Hawaiki Tower, he said.

Under original approvals by the Hawaii Community Development Authority, Nauru was allowed to build three luxury residential buildings and was required to build a smaller high-rise to meet city affordable-housing guidelines.

The first luxury tower, 304 units at the Piikoi-Ala Moana corner, was completed in late 1991 and the 282-unit affordable condominium, 1133 Waimanu, was completed in June 1996. The second luxury building, Hawaiki Tower, was completed last June.

The developers have asked the HCDA for permission to change the road layout from what was in the original plan. If that is approved, the third luxury tower will begin. Depending on market conditions, the availability of financing and other factors, Nauru may later seek approval for a fourth luxury tower.