San Diego-based developer OliverMcMillan is resurrecting a $284-million, 48-story luxury condominium project in Oahu, Hawaii, that was shut down for more than a year after the original developer went bankrupt. Photo: Courtesy Olivermcmillan A stirring market leads to the relaunch of a 430,000-sq-ft condo project on Oahu, Hawaii. In April, the Honolulu office of Ledcor Construction Hawaii, working with Architects Hawaii Ltd. and Baldridge & Associates Structural Engineers, took up where another Honolulu-based company, KC Rainbow Development Co. LLC, left off in fall 2008. The tower, called Pacifica Honolulu, is now set for completion in the third quarter of 2011.
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.