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HDCC Intends to Buy News Building

HDCC Intends to Buy News Building
Posted July 2nd, 2013 @ 1:42pm

Hawaiian Dredging & Construction Company has signed a letter of intent to buy the historic News Building on the corner of Kapiolani Boulevard and South Street in Kakaako as a potential new headquarters. Hawaiian Dredging is the general contractor for the condominium project 801 South Street which is being developed by Downtown Capital LLC. Downtown Capital bought the 3.7-acre property last year for $22 million from former Advertiser owner Gannett Company. The developer plans two affordable-housing condo towers on the site, and recently started demolishing mainly warehouse structures on the site to make way for the first tower.

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