Keeping an eye on South Maui real estate developments? Alexander & Baldwin Inc. recently won their final zoning approval for the 600-unit housing project they’ve been planning for 95 acres in the South Maui area. Low housing inventory and high demand are major driving forces behind this development, which will be situated mauka (toward the mountain side) of Piilani Highway between Kaiwahine Street and the end of Mokulele Highway.
The project will include affordable and market-priced homes, and there will be a mix of single-family and multi-family homes, along with some parks and open spaces. There will be 600 homes total, and those that will be affordably priced will be among the first to be completed, according to Christopher Benjamin, president and chief operating officer of A&B.
When will this project be complete and the homes on the market? A&B plans to begin closing sales in 2018, so it’s still in the early phases of engineering, design work, and subdivision approval. The project comes with a $220 million price tag, and the homes will be sold between $300K and $600K. There will also be a 1.4-acre commercial center.
The Maui County Council recently approved the zoning ordinance for the project, and Mayor Alan Arakawa signed off on it as well. The permitting process for new developments in Maui County tends to be difficult, but when you live on an island where space is tangibly finite, it’s easy to understand why extra care and deliberation is taken when deciding where to put new homes.
As far as the economy is concerned, the construction process for this project will provide a lot of jobs for Maui residents, and then there are the long-term jobs provided by businesses in the commercial center, among others. Located in the northern part of Kihei, future owners and residents will be a bit closer to the conveniences of Central Maui than the residents of Wailea, Makena and the southern Kihei area.
We hope this new development piques your interest in the forward progress of Maui’s housing market. If you need assistance in that arena, you’ll find our contact information at the bottom of the page. Mahalo!
RealEstateMauiHawaii.com – By Mark Harbison