Saturday, December 15, 2007

the old Kahului Shopping Center

Alexander & Baldwin's plan for redeveloping the old Kahului Shopping Center on Maui includes a novel plan for dividing the project into condominiums.

Its subsidiary, A&B Properties, has proposed using a nested condominium approach for the mixed-use Kahului Town Center.

Nested condominiums have been used on the Mainland in large, mixed-use urban projects, where residential units and commercial units are managed by separate associations, said Kahului attorney Rick Kiefer, who presented the A&B plan to the state Real Estate Commission in October.

No other projects in Hawaii, to date, have proposed using nested condominiums, said Cynthia Yee, the commission's condominium specialist.

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