One of the Pagoda's two buildings, a 162-unit low-rise called the Pagoda Terrace, will be modified into fee-simple condos priced from $118,000 to $263,950 and renamed Rycroft Terrace. The project will consist of studios with 331 square feet, 1 bedroom/1 bathroom from 558-655 square feet, and 2 bedrooms/one bathroom with 709-759 square feet.
This will be an affordable housing project under the HDCA guidelines.
Unit features will include but are not limited to: window a/c, wall-to-wall carpeting, window coverings, TV cable outlet in living room, telephone jacks in living room and bedroom(s), refrigerator, disposal, and smoke detector.
Building features will include but are not limited to: fee simple, community laundry on the 2ndand 4thfloor, and swimming pool.
Kamehameha Schools has agreed to sell the land under the Pagoda Terrace to local developer Peter Savio, who will handle the condo conversion that includes making nearly $2 million in repairs and renovations.