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Developer Will Start High-Rise Project This Month

Developer Will Start High-Rise Project This Month

A Honolulu developer says it has secured a $120 million construction loan for a planned high-rise project near downtown Honolulu.  Oliver McMillan plans to start building the 3-and-a-half acre Symphony Honolulu project this month.  The loans were secured from four lenders, including First Hawaiian Bank.  Plans call for a tall, glass skyscraper with 288 market-priced condominiums and 100 lower priced units for buyers who meet certain conditions set by the Hawaii Community Development Authority. Officials say the project will generate about 400 construction jobs for the next two years and about 100 permanent jobs. It should be completed in 2015.

 

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