Lately, we’ve had an abundance of activity in both commercial and residential South Maui real estate. Savvy investors are snapping up properties, developing and redeveloping left and right. The latest example is the redevelopment of the Makena Beach & Golf Resort by Discovery Land Co., which will turn the property into a private oceanfront community and golf club.
This project is impressive in scale, with a $230 million price tag. Home construction is expected to begin early next year, according to the developer. The 310-room hotel that currently occupies the space will be converted into 46 luxury apartment units, but the resort sits on 1,800 acres, so developers don’t intend to stop there. The plan also includes a new hotel with 76 rooms and 12 condominium units.
Discovery Land Co. is based in Arizona, and they will be partnering with ATC Makena Holdings, which is comprised of three entities, including New York-based real estate investment firm and fund manager AREA Property Partners, developer Stanford Carr’s Honolulu-based Stanford Carr Development, and Honolulu-based hotel investor and operator Trinity Investments LLC.
Discovery Land Co.’s spokeswoman, Carol Taylor, recently stated that construction had already begun, with one course complete, along with the addition of a new restaurant. She noted that the home building is likely to progress at an accelerated pace after construction begins in early next year. Some lots have already sold or are currently closing, whether construction has begun on them or not.
Of course, when it comes to South Maui real estate, there are many valuable properties available. It’s simply a matter of choosing the right one for your needs. As experts in this region, we would be happy to assist you with every step of the process. If you need us, you’ll find our contact information at the bottom of the page. Mahalo!