Starwood Vacation Ownership representatives recently reassured state legislators that the resort and timeshare developer and operator still plans to move forward with development of a Princeville parcel. The 18.5-acre parcel, known as lot 25, was purchased for $15 million from
Starwood Vacation Ownership representatives recently reassured state legislators that the resort and timeshare developer and operator still plans to move forward with development of a Princeville parcel.
The 18.5-acre parcel, known as lot 25, was purchased for $15 million from Princeville Corporation in late summer 2002.
The lot holds a resort zoning designation from the County of Kaua’i that allows development of up to 740 hotel rooms, or over 300 timeshare units, on the parcel. Starwood officials announced the number of units to be built, and gave a fall 2003 groundbreaking date.
The groundbreaking may not happen on schedule, but the project is still a go, said Stephanie Kaluahine Reid, director of public relations for Princeville Resort and a Kaua’i spokesperson for Starwood.
That means the exact number of units planned for the parcel, total construction cost, exact groundbreaking date, and other details haven’t yet been finalized, Reid said.
Starwood officials have discussed the construction of a 370-unit luxury timeshare resort to Princeville residents attending community meetings.
Another Starwood company, Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT), has 17 hotel locations in Hawai’i, including the Princeville Resort and Sheraton Kaua’i Resort in Po’ipu.
The timeshare parcel is set on a bluff overlooking ‘Anini Beach, but at the request of county planning officials buildings will be built so they won’t be visible from ‘Anini.
