Company Closes Moana Vista Buy
by Star Bulletin Staff and News Services
OliverMcMillan of San Diego closed its purchase yesterday of the unfinished Moana Vista condominium project on Kapiolani Boulevard.
The project, which was headed to foreclosure auction due to a $29.5 million lien, was nearly half-built by developer KC Rainbow as a mixed-use residential tower with 492 units. OliverMcMillan has renamed the project Pacifica.
Dan Nishikawa, OliverMcMillan's development director, said the company plans to add resort-level amenities, improve upper-unit floor plans and upgrade the interior design. OliverMcMillan plans to restart the project in 2010, and will notify previous buyers of their priority for purchase of a unit.