The Howard Hughes Corporation (NYSE: HHC) today announced plans to renovate the IBM building, a well-known office building located along Ala Moana Boulevard in the heart of Kaka‘ako. As the next step in realizing its vision transforming Ward Centers into Ward Village, a vibrant urban master planned community, The Howard Hughes Corporation is making a substantial investment in the renovation of the building.
“We look forward to the IBM building becoming an integral part of the vision for Ward Village,” said Nick Vanderboom, Senior Vice President of Development for The Howard Hughes Corporation. “It is rewarding to bring new purpose to this iconic structure.”
Originally designed by famed architect Vladimir Ossipoff, the IBM building recently marked its 50 th anniversary. Through the redevelopment, the majority of the space will continue to serve as an office building while a portion will serve as the future information and sales center for Ward Village. Planned for completion in the fall of 2013, the update will create dynamic open space on the ground floor by opening up the walls surrounding the ground level. A section of the floor will be dedicated to telling the story of the land, while another will showcase the vision for the project. The front of the building will also be enhanced with landscaping, water features and other design elements in keeping with the future character of Ward Village.
Reflecting the Ward Village commitment to honoring the history of the land, the concrete honeycomb exterior grille – the brise-soleil that makes the IBM building a distinct architectural structure - will be retained as part of the rehabilitation.“As best I can recall, Val Ossipoff is quoted as saying ‘the grille is a punched screen and as such recalls the punch cards universally used in computing.’ This seemed an appropriate reason for relating IBM, a computer company, to its Honolulu home. Here is a unique grille, very permanent being made of uncoated concrete which provides shade and yet allows views out to the ocean and mountains and allows for a naturally lit interior,” said Sid Snyder, a longtime friend and business partner of Val Ossipoff.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV