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Resort developer plans 400 new housing units for Princeville

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Posted: Sunday, March 11, 2012 11:45 pm

Editor’s note: This is part two of a two-part report about development plans for the 9,000-acre Princeville Resort. Part one, published on March 5, covered the reopening of the Prince Golf Course and plans for the Princeville Golf Club & Adventure Center.

PRINCEVILLE — Developer Jeff Stone has unveiled his vision for Phase II of a community master plan for Princeville Resort that’s been decades in the making.

“Phase I is pretty much fully built out,” Stone said.

“So our vision here is to take Phase II and have some product — the Prince Hale and the Prince Villas — more resort product along with the Prince Golf Course, and have some ranch homes.”

The development plan, first outlined in 1969, slowed in the early 1990s after Japanese beer maker Suntory bought the 9,000-acre property in partnership with Nippon Shinpan Co. and Matsui & Company. In 2005, Morgan Stanley Real Estate Fund IV became a partner with Stone and CornerstoneReal Estate Advisors to acquire the Princeville Resort assets from Suntory.

The sale included the 252-room St. Regis resort (formerly The Princeville Hotel) now managed by Starwood, the Prince and Makai golf courses and club facilities, Princeville Tennis Club, Princeville Health Club and Spa, Princeville Shopping Center, Princeville Airport, Princeville Ranch and historic taro lands in Hanalei Valley.

Since that time, Stone and the Resort Group have been steadily working to give the Phase I development a much-needed facelift and revive the Phase II master development plan for the community.

During the last seven years, Stone has led the renovation of the Makai Golf Course and its facilities, the update of Princeville Shopping Center, the $85 million renovation of St. Regis Princeville Resort, the $100 million construction of the Westin Princeville Ocean Resort Villas, the $10 million renovation of the Prince Golf Course and the ongoing remodel of Princeville Golf Club, including the addition of an Adventure Center.

“We’ve been trying to fix what’s broken and bring back the grandeur Princeville used to have,” Stone told The Garden Island. “We’re really proud of it, because we’ve been able to kind of retool. … We took the fitness area and moved it to the Makai Clubhouse and put in tennis courts, a pool, fitness rooms and reestablished Makai as Princeville Phase I.”

He said the Makai, now managed by Toon, is meant to be more casual than the Princeville club and course, which he described at the crown jewel of the resort. Princeville Golf Course reopened on March 1 and is now managed by Montage Golf.

He compared management of the ongoing projects to a Rubik’s Cube.

“How do you keep all the employees, and how do you keep moving them around during construction?” he asked.

“If you shut down a hotel and don’t have a new one, you’re just going to kill all of the businesses. That’s why it takes a couple of years to get each project off the ground. You have to systematically move people around and work with limited resources. You take your time, let it go through the cycle,” he said.

With the Phase I revamp near completion, Stone is conceptualizing plans for Phase II as three low-density housing developments: Princeville Ranch Estates, Prince Villas and Prince Hale.

Phase II housing

“It’s a work in progress, connecting Phase I with Phase II, but less dense,” Stone said. “Old Hawai‘i meets an older, established community. I think this originally was intended to be more resorts, more hotels; but I think now it’s really got enough of everything and we’re really just trying to balance it.”

Stone said Princeville Ranch Estates will be sold as lots located near the Prince Golf Course.

Seventeen ranch sites, ranging in size from 10 acres to 100 acres per parcel, have already been subdivided but are not actively being marketed. Pricing has yet to be finalized.

“Then you have other products like The Villas — whole owned,” he said. “We call them vacation villas because they’re mostly people who buy them and rent them out for vacation use. We’re thinking of putting in a classic hale as a paired home, a duplex.”

The Hale, a possible condominium development, is still in the conceptual phase and has not been confirmed. The groundbreaking and sales launch date are anticipated for late this year or early 2013. A price point for the projects and anticipated investment were not provided.

“Our goal right now is to reposition the Prince club and golf and Adventure Center, reopen the golf course, which we’ve done, reestablish Princeville and really take Montage’s experience with other’s ideas and see if we can’t create something really cool,” Stone said.

Collectively, it would total 400 homes, plus or minus some, he said; whereas, Princeville Phase I was about 3,000. He estimated that there are around 10,000 to 15,000 vacationers in Princeville at any given time and 2,000 to 3,000 permanent residents.

The redevelopment of Princeville produced a $242 million impact for the state and county, a CB Richard Ellis report states, and it carries with it about 2,600 jobs.

“What’s really fabulous is the future construction impacts and what it will do for the local economy,” Stone said.

Also on the horizon, Montage Hotels and Resorts plans to build The Hanalei Plantation Montage, an ultra-luxury resort hotel on 122 acres near the St. Regis.

“We have not yet been advised of the development timetable for the Hanalei Plantation parcel,” Stone said.

In addition to Princeville Resort, Stone also led the recent revitalization of Ko Olina Resort, a 642-acre ocean front property on O‘ahu, now rebranded as a Disney hotel.

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32 comments:

  • riverriim posted at 7:57 pm on Mon, Mar 19, 2012.

    riverriim Posts: 342

    [quote]interesting said: "and i would suggest most mainlanders view hawaii like, you know, texas or vermont or some place (but one that just takes a while to get here, you have to go by plane, and its like southern florida without the humidity/heat, and i little more expensive). sorry"[/quote]

    Yes, like Texas and Florida where all the original inhabitants along with their self-sustainable cultures were annihilated, their lands and waters stolen and privatized or otherwise sold off to fund the U.S. Treasury so U.S. justice can promote human rights. How dare Hawaiians and their supporters not bow to the benevolent and merciful government of, by and for US; justUS for all, or peace for none.

     
  • interesting posted at 4:32 pm on Sun, Mar 18, 2012.

    interesting Posts: 1931

    and i would suggest most mainlanders view hawaii like, you know, texas or vermont or some place (but one that just takes a while to get here, you have to go by plane, and its like southern florida without the humidity/heat, and i little more expensive). sorry

     
  • interesting posted at 4:28 pm on Sun, Mar 18, 2012.

    interesting Posts: 1931

    [quote]riverriim said: "virtually none are representative of mainland demographics, but, are representative of the wealthy class of US mainland who are virtually all white right-wingish Republican predominantly militarist-minded chauvinists "[/quote]

    -- the possibility is there that i am dead wrong and you are dead right. let us both hope you are wrong (or better yet, that the need for "new voting blood" does off in the first place)

     
  • riverriim posted at 11:15 am on Sun, Mar 18, 2012.

    riverriim Posts: 342

    To virtually all these newly retiring US mainland transplants, the people and culture of Hawai`i are afforded existence as being, in their own mindset, something of a quaint novelty. To the typical US American, Hawaiians and their fundamentally non-US American culture are annoying when not otherwise deemed by themselves, even if by no one else, to be threatening anti-American racists whom such transplants would as soon see buried in the dustbin of history than survive and thrive as a politically, economically independent entity in the middle of the Pacific.

     
  • riverriim posted at 10:26 am on Sun, Mar 18, 2012.

    riverriim Posts: 342

    interesting said: "looks like princeville will beat poipu to the punch in providing a critical mass of mainland transplants to vote in a new political dynamic on kauai. "

    It's worse than just a matter of being mainland transplants since virtually none are representative of mainland demographics, but, are representative of the wealthy class of US mainland who are virtually all white right-wingish Republican predominantly militarist-minded chauvinists most comfortable with Hawai`i being a colony of U.S. financial interests wherein, among other things, the term "Hawai`i ", constructed into "Hawaiian", applies to them because according to US they "own" real estate here.

     
  • interesting posted at 8:16 am on Sun, Mar 18, 2012.

    interesting Posts: 1931

    looks like princeville will beat poipu to the punch in providing a critical mass of mainland transplants to vote in a new political dynamic on kauai ;)

     
  • kauai50angel posted at 11:42 am on Sat, Mar 17, 2012.

    kauai50angel Posts: 18

    I agree STOP THE BUILDING...how about filling the empty condos, homes and business before anyone gets to waste more precious land...what ever happened to the building moratorium on Kauai?
    I couldn't believe it when they built those massive hotels on the South side, now they want more in Princeville. This is failure for Kauai. So many folks in foreclosure, so many empty homes in the KaiuLani development, its like a ghost town over there.

     
  • kauaibuilt posted at 9:50 am on Fri, Mar 16, 2012.

    kauaibuilt Posts: 49

    "Princeville is no friend! All we need are more gates and denied access in our community,ultra luxury?for who? What good will this be for us,more service jobs? Mr Stone why don't you really do something good for all of us with all that money you seem to have,Schools,public pool affordable housing (oh you do not like that mix)how about a large community center that can be used in evacuations,emergency or community events,how about affordable business locations so that our community can make some money off all these new people you want to jam into this already crowded north shore . How will all these new people enjoy another 200 people a day using the Ke'e area so over crowded now. The Honu group turned the shopping center into a mess with high rents etc and you want more of this ? We do not need this kind of development ,when your done making enough(?) money you will leave in your jet and leave behind a BIG mess for the people who actually Live here."
    'Amene
    North Shore is not a poipu

     
  • Greenleaf posted at 8:37 am on Fri, Mar 16, 2012.

    Greenleaf Posts: 3

    The road coming into Princeville has had deep potholes year after year, disastrous after dark or during heavy rains? Two close friends and myself incurred major expenses in vehicle repairs after passing these roads.

    How many years has the road in front of the Princeville Community Center been nonstop potholes? At times, two lanes reduced to a single lane risking oncoming tourists unaware of the depths of the holes.

    Four hundred more unsuspecting buyers? Can $$$ opportunity desensitize somebody's caring nature when blessed with the means to do good?

    I heard talk story of a white Edsel cruising Princeville... Who can help my whimsical fantasy of taking a spin in a beautiful Edsel around da Princeville entry fountain and then tour da western safari cruising towards A Walk in Paradise Shoes for footwear to trek back home in...please, please, please?? Only one business investor was observant enough to see the need for shoes required to walk and talk in Paradise?

     
  • Mokihana posted at 8:16 am on Thu, Mar 15, 2012.

    Mokihana Posts: 58

    The North Shore will lose its charm if it continues to be built up? The North Shore has steadily lost its charm over the past 40 years by being over built and over populated. Sure would be nice if everyone who has moved here during this 4 decade invasion would just pack up and go back to the Mainland or whereevertheheck you're all from. We locals are just so sick of all the traffic and over crowding of our poor little island.

     
  • Shoreline posted at 10:58 pm on Wed, Mar 14, 2012.

    Shoreline Posts: 1

    "During the last seven years, Stone has led the renovation of the Makai Golf Course and its facilities, the update of Princeville Shopping Center, the $85 million renovation of St. Regis Princeville Resort, the $100 million construction of the Westin Princeville Ocean Resort Villas, ......"

    Led? Van Voorhis.......this is not journalism. Shame on you. Renee, you got fact checker?

     
  • Kamalani Aloha posted at 2:51 pm on Tue, Mar 13, 2012.

    Kamalani Aloha Posts: 1

    Oh my, someone didn't do their homework prior to writing this article.

    Shortly after Mr. Stone purchased Princeville for just over $200 million dollars, he parceled out the various holdings: the shopping center sold very quickly to another entity, the hotel and Makai GC were sold to a retirement fund out of California, leaving Mr. Stone and his organization with the acreage surrounding the Prince GC and down the hill to Anini and some conservation land down in to the Hanalei Valley.

    The article gives credit to Mr. Stone for improvements - "facelift" - to the Makai course and the St. Regis Hotel. Did he really lead the "renovations"?

    The health club and spa at the Prince GC have been closed and replaced with a small pool and even smaller exercise space at the Makai GC available to a very small number of members.

    The Montage is not involved in the Hanalei Plantation resort - site of the former Club Med.

    Someone failed to do their homework before publishing this article!

     
  • Bjesquire posted at 11:45 am on Tue, Mar 13, 2012.

    Bjesquire Posts: 30

    This part of the article is unbelievable: Also on the horizon, Montage Hotels and Resorts plans to build The Hanalei Plantation Montage, an ultra-luxury resort hotel on 122 acres near the St. Regis. “We have not yet been advised of the development timetable for the Hanalei Plantation parcel,” Stone said. Well, they better never be a timetable! Are they kidding? Tear up the hillside above the Hanalei River to put in ANOTHER luxury resort? Right next to the St. Regis? How many billionaires can visit Kauai at the same time? This is outrageous. And isnʻt this the old site of the doomed Club Med condos? This can NEVER be allowed. It will ruin the environment above the river where the land is unstable and there are already too many luxury homes being built. Get ready to fight this one people...they are testing the waters.

     
  • Lorelei posted at 5:39 am on Tue, Mar 13, 2012.

    Lorelei Posts: 16

    I'm sure the county prefers 400 units built for vacationing retirees to low-income housing. The latter might mean families, and families mean increasing pressure to build a high school on the North Shore. Wealthy vacation-home owners just mean cash. Meanwhile many working people in Princeville face a long daily commute from other parts of the island, and young people all over the North Shore are stuck in buses for hours every day. Lets see the entire county serve the community as well as our emergency and road workers have this past week. Low income housing for Princeville. Complete our community. And give us a high school on the North Shore.

     
  • kapaaa posted at 11:06 pm on Mon, Mar 12, 2012.

    kapaaa Posts: 41

    Why doesn't anyone mention about the Anthrax cattle buried in Princeville? Don't the real estate sales have to disclose this fact?
    Doesn't anyone remember that a school and employee housing were conditions of development for the first phase?

     
  • bjduks posted at 6:47 pm on Mon, Mar 12, 2012.

    bjduks Posts: 1254

    Good news about North Shore Expansion!
    After all is done lock the gate&keep um penned up there!
    We can rename the N.Shore little Oahu!

     
  • MichaelMann posted at 5:44 pm on Mon, Mar 12, 2012.

    MichaelMann Posts: 537

    [quote]CarolinaGirl said: "RGGJR iPhone said on: March 12, 2012, 8:13 amOh wow is us, people might have a job again, our children a future living and working here rather than relocating to the mainland... Oh woe is us....--------------------------------Brilliant... :)"[/quote]

    Ummm....you find that "brilliant?" Dear lord. Your head must explode when you see someone who can add two numbers.

     
  • Happy Accident posted at 3:32 pm on Mon, Mar 12, 2012.

    Happy Accident Posts: 473

    Here ya go Garden Island Censors:
    “When in the State Legislature, Hanabusa introduced a bill to offer tax credits of up to $75 million for development at Ko Olina Resort, a move she declared necessary to spur development for the Leeward area but others saw as a reward for her close associate and political backer, Ko Olina developer Jeff Stone. In 2002 Hanabusa emerged as the leading advocate for legislation authorizing $75 million in tax credits for Stone's Ko Olina resort. When Governor Ben Cayetano vetoed the tax credit bill, Hanabusa took the unprecedented step of suing to overturn the veto.
    Within months, Hanabusa's then-fiancé John Souza received a preferential deal in purchasing one of Stone's homes in Ko Olina. In February 2005, less than two years after Souza bought the home, he sold it for a $421,000 profit, according to real estate records. Souza and Hanabusa, who were engaged at the time and married in 2008, then bought a $1 million home in another Ko Olina subdivision.

     
  • Happy Accident posted at 3:28 pm on Mon, Mar 12, 2012.

    Happy Accident Posts: 473

    What good will this be for us, more service jobs ?

    Better than no job, maukamana'o, but I understand. Remember though that education, skills, talent, dependability and initiative are some of the keys to prosperity. More service jobs mean more income than we had before and those folks will need, and then be able to better afford, the services of professionals and contractors.

    So here’s Mr. Stone. He compromised Colleen Hanabusa on Oahu and got special zoning by giving her husband a submarket price on an expensive home. This fact (GIN Censors) was reported in the Star Bulletin! Hanabusa defended herself by saying she didn’t buy it; her husband did. That’s fair and honest isn’t it? And we still vote for her!? I can handle Stone being what he is, but Hanabusa…not so much. We must be idiots to keep voting these suspects into office.

     
  • kealiahana posted at 1:49 pm on Mon, Mar 12, 2012.

    kealiahana Posts: 289

    The island overpopulated and overdeveloped. What happens after this resort goes up? No different than what is happening now and for the past several years. Welcome transplants (who can afford resort living) and pushed out and eliminate the locals and natives who've been here generations. The same people woh do not want to leave. Look around this is no longer Kaua'i, this is a suburb of California. The people, the culture and the heritage , no more. It's all self interest $$$$$$$$. Will this resort provide jobs? For who you really think the local contractors will have any shot at this. At most probably labor thats it. I do agree that some of the local contractors work ethic is questionable. They need to shape up and do deserve any work at all

     
  • ltereader posted at 1:48 pm on Mon, Mar 12, 2012.

    ltereader Posts: 1658

    Happy, many bought these units when the market was stronger, and their financial situation better.

    And yes, we CAN complain about lack of affordable housing in Princeville because this was part of the original 'long range master plan' decades ago. It was promised, but never happened. As a resort destination they need workers and those workers need affordable accommodations.

     
  • Happy Accident posted at 12:15 pm on Mon, Mar 12, 2012.

    Happy Accident Posts: 473

    Itreader - To my thinking no one should buy a vacation rental if they can’t afford to pay for it when it’s empty. That’s just the sort of thinking and high risk investments that created the mess we’re in now. Don’t we learn anything? But Princeville is already a DVA (Designated Visitor Area) so one can’t complain about the lack of affordable housing there. And if you look around, there is affordable housing being build more towards the population centers. Just not enough of it to meet our population growth. And “affordable” may never meet one’s ability to afford if you’re a sales clerk or a catamaran deck hand. But I’ll tell ya…even in this economy, it’s hard to find contractors that will show up for an appointment and do what they promise. Heck, they don’t even call to say they can’t make it. I think lots of folks here have crappy work ethics and therefore don’t get the business and income they could otherwise. We tend to be our own worst enemies.

     
  • realitychick posted at 11:54 am on Mon, Mar 12, 2012.

    realitychick Posts: 248

    I agree -- Princeville does not need what Jeff Stone is selling. What we DO need him to do is FIX THE ROAD IN FRONT OF THE COMMUNITY CENTER. This has been a terrible road for a very long time, even before the rains. Shame on him. The man has total mainland mentality. Take take take.

     
  • usens2888 posted at 11:27 am on Mon, Mar 12, 2012.

    usens2888 Posts: 4

    It sounds like another Poipu, which is NOT what Princeville residents and visitors want. Our treasured area (including Hanalei) will lose it charm. First and foremost we need to retain what attracts people in the first place!! All else is secondary. Princeville residents realize our roadways cannot support more traffic. We can barely function with the present traffic and parking. What we REALLY need in Princeville is a Wilcox complex for the many retirees with serious health needs as well as visitor emergencies. What we REALLY need are shops, services, parks and recreational facilities (a movie theater!) so residents aren't forced to drive 45 minutes to Lihue. What about a new shopping area in the massive acreage dedicated to commercial use in Kilauea along Kuhio Hwy. or to the rear of the miniature golf course? Wilcox on one side and across the street Wilcox facilities. Makes sense! Design Hawaiian style. Again, we don't want to lose North Shore charm!!

     
  • ltereader posted at 11:01 am on Mon, Mar 12, 2012.

    ltereader Posts: 1658

    Mr. Stone: here's a realistic overview from someone in the vacation rental business:

    CONDOS: Owners of condo's in Princeville have drastically reduce their vac. rental rates over the years, some are barely keeping their heads above water, because there's already too many condo rentals.

    HOMES: Homeowners have also been forced to reduced their rates in recent years. If they don't have anything special like ocean views and/or a great pool, they're struggling for rentals also.

    SHOPPING CENTER:
    Power washing walkways, a paint job, bit of landscaping, and some outdoor tables with umbrella's do NOT justify the rent increase(s) businesses have experienced in recent years at the P'ville Shopping Center.

    LONG TERM AFFORDABLE RENTALS:
    Promised for years, but never built. Wanna' do something for the community? Build some, and keep them AFFORDABLE for residents! We don't need anymore vacation rentals and/or hotels on the North Shore.

    And you're 'really proud' about this Mr. Stone???

     
  • CarolinaGirl posted at 10:32 am on Mon, Mar 12, 2012.

    CarolinaGirl Posts: 6


    RGGJR iPhone said on: March 12, 2012, 8:13 am
    Oh wow is us, people might have a job again, our children a future living and working here rather than relocating to the mainland...

    Oh woe is us....
    --------------------------------

    Brilliant... :)

     
  • maukamana'o posted at 9:43 am on Mon, Mar 12, 2012.

    maukamana'o Posts: 12

    Princeville is no friend ! All we need are more gates and denied access in our community,ultra luxery ??for who ? What good will this be for us,more service jobs ? Mr Stone why don't you really do something good for all of us with all that money you seem to have,Schools,public pool affordable houseing (oh you do not like that mix)how about a large community center that can be used in evacuations,emergency or community events,how about affordable bussiness locations so that our community can make some money off all these new people you want to jam into this allready croweded north shore . How will all these new people enjoy another 200 people a day useing the Ke'e area so over croweded now. The Honu group turned the shopping center into a mess with high rents etc and you want more of this ? We do not need this kind of development ,when your done makeing enough(?) money you will leave in your jet and leave behind a BIG mess for the people who actually Live here.

     
  • Chrisbielle posted at 8:43 am on Mon, Mar 12, 2012.

    Chrisbielle Posts: 40

    My vision for Jeff Stone is that he disappears. Another rich guy,full of himself, spreading his vision which does little for the community and lots for his ego and bank account. Hopefully this will become another Kealia Kai and his vision will never happen and he can go somewhere else.

     
  • RGGJR iPhone posted at 8:13 am on Mon, Mar 12, 2012.

    RGGJR iPhone Posts: 492

    Oh wow is us, people might have a job again, our children a future living and working here rather than relocating to the mainland...

    Oh woe is us....

     
  • interesting posted at 8:09 am on Mon, Mar 12, 2012.

    interesting Posts: 1931

    [quote]kauaiisfun said: "More is not better. More houses, more people, more cars, more trash, sewage, crime, congestion, pollution, and the cycle goes on and on. The highway, roads can't handle a lot of traffic. If you want to see what could happen look at all the cities in the mainland that have expanded their populations."[/quote]

    ...more crime...as in, there will be more opportunities for the new folks to be victims of crime?

     
  • kauaiisfun posted at 5:49 am on Mon, Mar 12, 2012.

    kauaiisfun Posts: 106

    More is not better. More houses, more people, more cars, more trash, sewage, crime, congestion, pollution, and the cycle goes on and on. The highway, roads can't handle a lot of traffic. If you want to see what could happen look at all the cities in the mainland that have expanded their populations.

     
  • Lorelei posted at 4:53 am on Mon, Mar 12, 2012.

    Lorelei Posts: 16

    They updated the shopping center? I missed that. Did they mean the one time they painted it? Filled in the potholes, which usually get to jacuzzi size? They almost re-striped the parking lot last month, but that job wasn't finished. And what about the requirement that Princeville had to build low-income housing in Princeville before they would be allowed to expand the badly overcrowded parking lot? That must be done, but the requirement is repeatedly dodged. Now they're going to add four hundred more houses? During the summer I often end up going home from attempted shopping trips to Foodland because there are no parking spaces available. Want to go to one of the restaurants for lunch? Good luck! They're making Princeville worse for full-time residents, visitors, and businesses alike.

     

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