Kamehameha Schools has acquired the ownership of Keauhou Lane from its development partner Gerding Edlen. Keauhou Lane is a mixed-use affordable rental and commercial property at 502 Keawe St. in Our Kaka‘ako, where Gerding Edlen was a minority equity partner. Effective Dec. 17, 2021, KS took over full control and management of the property; operations and reserved housing rental requirements will continue as usual with no changes.
“This is the natural evolution of a great partnership with Gerding Edlen, which brought to market 209 affordable rental units for our working kama‘āina at Keauhou Lane,” said Gary Evora, KS commercial real estate senior asset manager. “They share our commitment to this vibrant urban island community of Our Kakaʻako, and we appreciate their skillful residential development and management efforts during the initial years of this project. We are working closely with them and the residents and commercial tenants to ensure a smooth operational transition.”
As part of the 29-acre, nine mauka-block neighborhood of Our Kakaʻako, Keauhou Lane features approximately 31,000 square feet of ground floor commercial space in addition to 209 reserved housing units. KS will continue to steward the property as part of its overall ʻĀina Pauahi landholdings to ensure long-term productivity in support of its educational mission to serve Native Hawaiian learners.
Development of Keauhou Lane was completed in September 2017, during the first phase of KS’ Kaiāulu ʻo Kakaʻako Master Plan. In keeping with the plan’s vision and values, the building was designed to be energy efficient, environmentally friendly, and sustainable. Low-water landscaping and irrigation, a solar hot water system, energy-efficient appliances, LED lighting, onsite stormwater infiltration, and other features qualified the development to be the first multi-family affordable housing project on O‘ahu to receive Leadership in Energy and Environmental Design (LEED) Platinum certification with the U.S. Green Building Council.
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commercial assets,residential assets,our kakaʻako
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Kaipuolono Article, Regions, Themes, Culture, Community, KS Announcements, Newsroom, Department News, Commercial real estate news, CRED News (Not on Frontpage)
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