All signs are go for a $115-million project that will bring a new, 77-home, residential community to Princeville. Developers of the project, Ka‘iluani of Princeville, received approval of necessary permits from members of the Kaua‘i Planning Commission recently. Sales are
All signs are go for a $115-million project that will bring a new, 77-home, residential community to Princeville.
Developers of the project, Ka‘iluani of Princeville, received approval of necessary permits from members of the Kaua‘i Planning Commission recently.
Sales are nearing the 67-percent mark even though the official groundbreaking ceremony is not till Saturday, June 18.
“It’s going to put a lot of people to work for a long time,” according to Don Schultz, project manager for the developer QEB III LLC (Queen Emma’s Bluffs).
He said the project reflects the needs and wants of residents and non-residents who want to live in Princeville in particular, and the North Shore in general.
Or as Schultz put it, “we have been fortunate in correctly assessing the changing marketplace on the North Shore over the past five years.”
With planned development on the island growing, including a proposed huge project at Kauai Lagoons, Schultz said he did not think Kaua‘i would soon resemble the high-density, often-traffic-clogged Maui, an island many say has been overdeveloped to the point of being unrecognizable from what is was 20 years ago.
“I don’t worry about that here,” Schultz said. “I credit the County Council and the mayor, who have been keeping control of those things,” he said.
“I think one of the primary reasons (people want to move here) is because they see our growth as controlled.”
So far, about 67 percent of the proposed units have been sold, Schultz said. The total sales volume for the project is $115 million.
Schultz said about one-third of what has been sold so far was to Kaua‘i residents.
“They were sold to people who love in Princeville or the North Shore area who are looking to purchase single-family, attached homes in (a) condominium environment that takes care of their home maintenance,” he said.
“It meets their demands,” he said. Schultz said another sector of buyers were from the Mainland and Canada, who are planning to move here and live on Kaua‘i full-time.
The remainder, perhaps another third, are people who own another home, and plan to live on Kaua‘i part time.
Schultz said these people come from all over.
Schultz said the homes will not be allowed to be used as vacation-rental units, and the development will not be a gated community.
The 77 units are two-story, single-family, attached homes, in a duplex configuration. They range in size from 2,000 to 3,500 square feet.
Schultz said there are eight different model types, ranging in price from around $800,000 to $2.5 million.
Schultz said the project will have a “resort feel” to it, fostered by 30-foot-wide, palm-lined roads, water features and landscaping
Ka‘iluani is located on a 17.4-acre parcel in Princeville II, a subdivision of Princeville.
Schultz said the land was purchased from the Bowstreet Group for $15.9 million in 2004.
The land is on a peninsular bluff, surrounded on one side by the Prince Golf Course eighth fairway to the west, the Pacific Ocean to the north, and a 250-foot-deep valley on the Prince Golf Course to the south, and ocean and mountain views to the east.
This project marks the third North Shore development for the QEB group.
The two previous projects were Villas on the Prince and Villas of Kamali‘i.
Conrad Murashige and his team at Shioi Construction are the general contractors for the project, Schultz said.
