Some 400 people will be employed as construction at the former Moana Vista residential and retail development, now known as Pacifica Honolulu, hits full stride.

Developer OliverMcMillan and First Hawaiian Bank have closed on a construction loan, of undisclosed value, to enable completion of the project at 1250 Kapiolani Blvd.

“;OM and its partners have made a significant investment to finish Pacifica Honolulu, which will create more than 400 direct and indirect construction jobs until the project is completed in fall of 2011,”; said Dan Nishikawa, group president, in a statement.

Starting next week the ramp-up will intensify, with 20 to 30 workers added at a time, said spokeswoman Joyce Timpson. “;Then the first concrete pour, that will start making the floors go up higher, is expected to be the first week in June.”;

Presales began Jan. 30 to former Moana Vista buyers whose contracts were canceled, and then opened to the general public on Feb. 6.

To date, 230 of the project's 365 units are under binding contract. Another 124 units are what's called “;reserve housing”; that will be sold under Hawaii Community Development Authority guidelines to applicants who earn 120 percent of the median income. The majority of the set-aside units are two-bedroom, two-bath, while some are one-bedroom, one-bath. The prices have yet to be set, Timpson said.