Hawaiian Dredging is the general contractor for the towers.

Part of the News Building was demolished to make room for a parking garage for the second tower. The first tower was completed last year, and the second tower is slated to be finished later this year. Local investment firm Downtown Capital LLC bought the 3.7-acre property in 2012 for $22 million from former Advertiser owner Gannett Co., and has used most of the property to develop two condominium towers called 801 South St. combined the two newspapers into the Honolulu Star-Advertiser, based at Waterfront Plaza. The Honolulu Star-Bulletin also was based in the building for many years. Long known as the News Building, the three-story complex was built in 1929 for the Pacific Commercial Advertiser, later The Honolulu Advertiser. The company purchased the nearly 90-year-old building at the corner of Kapiolani Boulevard and South Street on Friday and declined to disclose the price.

has completed its planned purchase of a historic building in Kakaako that it intends to use as a headquarters next year following a renovation.

Hawaiian dredging waterfront