New Development Updates

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Billy and I had the opportunity to attend a meeting on Friday where three different developers presented updates on their latest projects in Maui. Speaking at the meeting were individuals from D.R. Horton Schuler Homes, Towne Development and A&B properties.

Lisa Baptiste from Schuler DR Horton was the first to take the stage. DR Horton has been active in the development of Maui Lani. Schuler, a Hawaii Based company that was purchased by DR Horton in 2003 developed Maui condo complexes such as Kihei Villages, Southpointe at Waiakoa and Iao Parkside. Baptiste announced DR Horton was holding their first lottery for the Na Hoku area of Maui Lani in Central Maui starting last Friday. Na Hoku is a single family development with 160 units. There are 6 floor plans with both one and two story models available. Square footage will vary between 1,500 and 2,400 square feet. Prices are to start in the high $500,000s up to the high $600,000 range with a select few homes priced in the $700,000s.

DR Horton also has two developments on the radar in the Lahaina area. Opukea will have 114 condos. The condos will be spread between 7 buildings with an average of 16 unts per building. Sales originally projected to start in January may start as early as December. Prices are expected to be released this week. Ho’onanea is another project planned in Lahaina near the cannery mall. This project will feature 100 multi unit condos. Sales are scheduled for 2008.

Towne Homes Hawaii was represented by Takeshi Matsukata. Mr. Matsukata gave us an update on current and future developments. He started by talking about two developments underway in the Kihei area. Moana Estates a 90 home development is 60% sold out. Homes in this development vary in size between 1,600 square feet and 2500 square feet on lot sizes ranging between 7,000 and 13,000 square feet. Ke Ali’i Ocean Villas is an upscale condo complex with 144 units. This complex features 2-3 bedroom condos with enclosed garages. Prices range between $680,000 and $1,000,000. There are still 100 units available in this complex.

Towne is working on three new phases of the Kehalani development outside Wailuku. Koa at Kehalani will have 72 lots. Of the 72 lots, 19 are house + lot packages. Akolea at Kehalani will have 97 homes. There will be 7 different models at Akolea with home sizes ranging between 1,700 and 2,400 square feet. Lots will range between 7,000 and 16,000 square feet. Milo Court will be a 94 unit duplex planned for sometime next year. Units will be 3 beds and 21/2 baths with 2 car garages. Prices are projected to be in the $500,000 range.

Last but not least, Grant Chung of A&B Properties spoke about two exciting developments they are working on in Kahului. Both are mixed use developments with a combination of retail, residential and commercial. These communities are meant to be pedestrian friendly with the hope they will recreate some of the community atmosphere that was lost from Kahului during its redevelopment in the 1950s. Kahului Town Center is the largest of the developments with 442 units proposed. It will feature store fronts, angled street parking, and wide sidewalks. The development will have 4 quadrants. One quadrant will be exclusively commercial/retail, another will be primarily residential and the other two will be mixed between commercial, retail and residential. It will feature townhomes in the $500s and multi-level condos priced between the $200s and $600s.
Kane Street Apartments is another retail and commercial development. Kane Street will feature retail and commercial space on the first floors of the buildings with upper levels dedicated to 2 and 3 bedroom condos. Prices will start at $314,000.

Contact us today for additional information on any of these new developments. We will keep you updated about any new information that we hear about these new developments through the blog.

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