December 17, 2019
As recently reported, JL Capital becomes the go-forward partner for JL Avalon Capbridge LLC’s $500M Sky Ala Moana mixed-use residential and hospitality tower, now rising on Honolulu’s Kapiolani Boulevard.
Avalon Group, the exiting member of the joint venture, will remain the 474-unit project’s marketing agent. The property features a 300-room hotel, paired to 390 market rate and 84 affordable residences.
In separate statements from Tim Lee, CEO of JL Capital, and Christine Camp, president and CEO of Avalon Group, Pacific Business News reports that Avalon will continue marketing the residential units and “are excited with the success of Sky Ala Moana and its continued construction progress.”
JL Capital has purchased 12 parcels along the Kapiolani corridor in recent years, with three dedicated to Sky Ala Moana, and eight in entitlement phase for a planned mixed-use project at 1700 Kapiolani Blvd. near the Hawaii Convention Center.
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