The Hawaii Community Development Authority, the state agency regulating development in Kakaako, voted 8-0 Wednesday to approve the Keauhou Lane project, which features a 43-story condo tower, 632 residential units, parking for 1,038 cars and about 39,000 square feet of restaurant and retail space on a 4.2-acre block bordered by South, Pohukaina, Halekauwila and Keawe streets.

Wednesday’s vote is the final approval the project needs from the HCDA. The developer still needs building permits and expects to start construction next year.

The land is owned by Kamehameha Schools. Stanford Carr, a local developer, is in charge of the tower and parking portion of the Keauhou Lane project. The 43-story tower at Keauhou Lane is designed with 388 condos. Another 35 town homes would line the parking garage along South and Pohukaina streets.

The project also includes apartments and retail space, which are being developed by Portland, Ore.-based Gerding Edlen and will feature 209 rentals in four six-story buildings on the Keawe Street side of the block.