The City and County of Honolulu selected Centre Urban Real Estate as the preferred negotiating partner in the redevelopment of 1615 Ala Wai Blvd.

With the recent demolition of the long-abandoned property, the City plans to turn the empty space into affordable housing. All that remains of the previous structure, which sat vacant for over two decades prior to demolition, is the slab and foundation.

“This project represents our administration’s commitment to delivering housing that serves local residents and strengthens our communities. Just as importantly, we are committed to engaging with the Waikīkī community every step of the way to make sure we get this right for the people who live and work here,” said Honolulu Mayor Rick Blangiardi in a statement.

Centre Urban Real Estate is a
vertically integrated investment firm that focuses on urban infill markets, developing multifamily residential buildings, workforce housing, and commercial mixed-use properties. The company prides itself on collaborative innovation, sustainable designs and minimizing environmental impacts.

“As a local boy, I’m especially proud to be part of a team bringing forward a vision that reflects the natural evolution of the 1940s-era walk-up that has long stood on this site — an opportunity to pay homage to the past while addressing the pressing housing needs of today,” Martin M. Q. Nguyen, principal of Centre Urban Real Estate, said in a statement. “We are committed to being rightful stewards of this transformation, delivering high-quality, affordable housing in Waikīkī.”