A $100-million, 196-unit luxury beachfront residential condominium project in Waipouli across from the Kauai Village shopping center could be open for business as soon as late 2005 or early 2006. Kaua‘i-based developers, Waipouli Beach Resort LLC, recently received “contingent final
A $100-million, 196-unit luxury beachfront residential condominium project in Waipouli across from the Kauai Village shopping center could be open for business as soon as late 2005 or early 2006.
Kaua‘i-based developers, Waipouli Beach Resort LLC, recently received “contingent final approval” from the Hawaii Real Estate Commission, and ground breaking could begin “in a couple of months,” said Keith Singleton, one of two partners with Waipouli Beach Resort LLC.
“This is the first development in a long time on this side of Kaua‘i,” said Singleton in an exclusive interview with The Garden Island yesterday. “We have designed and priced the luxury units to satisfy a variety of buyers. There’s something there for everyone.”
Sales and marketing of the residential units are expected to begin soon with prices ranging from $350,000 to $2.5 million.
The project is slated for the 12.6 acres of water-front property across from Kauai Village shopping center, which houses Safeway. The property has for years now been the subject of speculation as to who and what might develop there.
“It’s taken us two and a half years to put this thing together,” Singleton said. “It takes a lot of time to generate that kind of paper.”
The project will consist of 153 two-bedroom units, 37 one-bedroom units and six hotel studio units. Other facilities and amenities will include a restaurant, spa, fitness center, beach activity center and an 185,000-gallon fresh-water fantasy pool complete with two serpentine waterslides.
Singleton, who insists that there will be access to the beach, said he collected 600 signatures from Kapa‘a and Waipouli-area residents supporting the development.
One of the first things addressed in the initial plans was traffic flow in the area, said Chris Singleton, managing partner of Waipouli Beach Resort LLC and Keith’s brother. The project will create a designated turn lane for Kaua‘i Village shopping center, a second lane for northbound traffic, and a turn lane for the new condominium resort. Additional land on the property will be dedicated to a bike path, and one acre will be a dedicated “cultural reserve.”
Complete with high-gloss color brochures and a Power-Point presentation, the Singletons n who have been reticent to speak on the record about the development until they got all the permits and approvals together n pitched the project in front of at least 100 Realtors yesterday at a regular meeting of the Kaua‘i Board of Realtors in Lihu‘e.
“Everybody oohed and aahed,” said Karen Ono, executive director of the Board of Realtors.
Ed MacDowell, owner of Vision Properties in Kapa‘a, said that the new development is just the right kind of inventory needed in today’s market.
“It’s been the same old thing here: no inventory, 20-year-old projects selling at $500,000 to $600,000,” MacDowell said. “With ocean-front property next to shopping, it’s the kind of development Kapa‘a needs. It’ll be a real shot in the arm.”
Unlimited Construction Services, Inc. of Lihu‘e, who recently built the Marriott Waiohai Beach Club in Po‘ipu, and is working on the new state Judiciary building on Kapule Highway has been selected as the general contractor.
“This condominium design was well thought out and is sure to keep at least 200 of Kaua‘i’s resident-builder trade busy for two years,” said Peter Robson, president of Unlimited Construction.
Outrigger Hotels and Resorts will manage the Association of Apartment Owners at the new resort, making it the third such operation on Kaua‘i managed by the Oahu-based company.
“Outrigger is pleased to have an opportunity to be associated with such a high-quality project on the Garden Isle, especially one with such a great beachfront location,” said Bill Henderson, vice president business development for Outrigger Hotels & Resorts.
Lancor Architects, Inc. of Honolulu has been named the designer and architect, Groark Design, Inc. of Honolulu will install the water features and pool/spa areas, and Kaua‘i Nursery, Inc. of Puhi has designed and will install and maintain the landscaping.
Financing for the project is being provided by First Hawaiian Bank.
Singleton said that he’s been fielding inquiries for months now from Realtors from Oahu and Kaua‘i, who he described as lining up like airplanes on a runway.
Waipouli Beach Resort Realty of Kapa‘a will be the listing agent, and an office will soon be set up in Kaua‘i Village shopping center. Old Republic Title & Escrow of Hawaii, Ltd. will be opening a shop on Kaua‘i to service buyers, Singleton said.
But Singleton said that Kaua‘i-based Realtors will have first shot at the units, and a “brokers open” will be held Wednesday, August 11 at 5 p.m. under a tent at the development site.
“This is all in the spirit of keeping it local,” Keith Singleton said. The Singletons own a small ranch in Kapa‘a, and have lived on Kaua‘i since 1969.
“Kaua‘i has been for a long time underserved, underdeveloped and undervalued,” said Rick Cassiday, a real estate consultant working with Waipouli Beach Resort LLC.
Cassiday said that the development, along with the recently announced plans for the expansion of Princeville, is just another sign that Kaua‘i’s development market is taking off.
“We are right at the base of the big wave,” Cassiday said.
The last project completed by the Singletons was a land-only project completed last year at Makalea Falls on Kawaihao Road.
That 19-acre parcel contained 22 units of land ranging from a half acre to one acre and sold for between $175,000 to $325,000.
“They’re now selling at $295,000 to $450,000,” MacDowell said.
For information, www. waipoulibeachresort.com, or call 823-8300.
