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Outrigger opts for luxury condos

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Outrigger opts for luxury condos

Hawai'i's red-hot housing market has led Outrigger Enterprises to eliminate hotel rooms from a planned tower at its Lewers Street redevelopment project, instead dedicating the new Waikiki high-rise to luxury residences.

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The estimated $200 million tower that Outrigger originally envisioned as an 890-room hotel probably will be built as 300 to 400 fee-simple condominiums with parking, according to the latest version of the company's Waikiki Beach Walk project.

Outrigger said it is negotiating with a shortlist of condo developers, most of them from the Mainland, to help build the tower, and expects to make a selection within 30 days.

Condo prices have yet to be set, but would likely be more than $1 million for the best units.

It is the second major change for the planned 350-foot tower on Saratoga Road fronting Fort DeRussy, and would reduce the number of hotel rooms in Wai-

kiki while creating luxury residences in an area typically populated with tourists. Outrigger will demolish two hotels with 210 rooms to make way for the tower.

Tourist district losing rooms

Outrigger's planned Beachwalk high-rise:

Original plan

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