February 19, 2019
Los Angeles-based Douglas Emmett, Inc. plans to convert 1132 Bishop, a 25-story office building in
downtown Honolulu, into roughly 500 new workforce rental apartments with rental rates targeted to serve families in the 80- to 120% Average Median Income range. The new apartments will include studio, one-bedroom, and two-bedroom units.
The new apartments will be located at 1132 Bishop, at the corner of Bishop Street and Hotel Street, near the center of downtown Honolulu. Plans are to convert vacant office space to apartments, a process that is expected to take a number of years. The first apartments are currently scheduled to be occupied in 2020.
Douglas Emmett’s Jordan Kaplan says, “The Douglas Emmett team is focused on addressing the critical need for workforce rental housing in Hawai’i, and we are working hard to get through the planning and permitting process so we can begin the conversion.”
For comments, questions or concerns, please contact Dennis Kaiser