PRINCEVILLE — The Resort Group and East West Partners have joined together to create a new residential community near Princeville at Hanalei. East West Partners will manage the planning, development, marketing and sales of this new North Shore community, which
PRINCEVILLE — The Resort Group and East West Partners have joined together to create a new residential community near Princeville at Hanalei.
East West Partners will manage the planning, development, marketing and sales of this new North Shore community, which encompasses the Prince Golf Course, clubhouse and oceanside residential homesites.
The development includes 700 acres adjacent to the Prince course and calls for 75, 5-acre ranch lots.
The North Shore project will feature a spa, retail and culinary center, lush gardens and groves of fruit trees, Hawaii-themed pavilions and open spaces. A network of paths will provide opportunities to walk, hike, and bike to tropical streams and waterfalls.
“East West Partners is renowned for creating timeless, high-quality communities throughout the U.S. and is a perfect fit for this idyllic location, said Jeff Stone, founder of The Resort Group.
He described it as a low-density development that is positive for the area.
Stone said Friday they are spending about $25 million on initial infrastructure improvements, but did not have an estimated price tag for the entire development.
“This is a classic, 75-ranch-lot community being handled exclusively by East West Partners,” Stone said.
East West Partners has over 50 landmark properties in acclaimed resort and urban hubs across the country.
“We are excited to work with Jeff and The Resort Group and look forward to being part of this special place,” said Andy Sutton, managing partner of Hawaii for East West Partners. “Our goal is to open the golf course within 2018, and start the clubhouse remodel and home-site sales this winter/spring.”
“Our focus is to make the clubhouse and golf course trail system a great asset for the entire North Shore community, including programs on fitness, wellness, hiking, biking and golf,” he said.
Princeville at Hanalei was announced by Stone in 2014. It was described as a private, 8,000-acre, 350-unit residential community in Princeville, with the Prince Golf Course as the centerpiece.
As part of that plan, the Prince Golf Course was slated to reopen in mid-2016 following $50 million in renovations, including a brand new clubhouse and improved greens, fairways and cart paths.
The Resort Group and Reignwood International, an investment firm owned by billionaire Thai-Chinese businessman Chanchai Ruayrungruang, planned to spend at least $500 million on the project, according to Stone.
But that project fell through.
“It didn’t fit well with the community,” Stone said.
Stone said this planned development has nothing to do with the proposed Princeville Lodge project, for which he recently withdrew the project’s shoreline setback application so the county could establish rules and procedures in order for an appeals process.
At build-out, Princeville Lodge proposed by Stone and Ohana Hanalei, LLC, will have 80, two-story luxury hotel units and a clubhouse on a ridge above Hanalei Bay.
Harry H. Frampton, East West Partners’ founder and chairman, said they are “excited to be entrusted with this incredible Kauai landscape.
“Plans for the property will not only celebrate the legacy of the area, but will create opportunities to connect with the North Shore community in health, wellnessn and sustainability through innovative programming and a light-touch approach to design,” he said. “This is truly a dream project for us.”
