Developer Carr buys 22 acres in Waikoloa for resort homes
By Andrew Gomes
Advertiser Staff Writer
Hawai'i developer Stanford Carr has bought a 22-acre site at Waikoloa Beach Resort on the Big Island to build about 170 resort homes that would advance an 11-year-old effort to develop the property.
Carr, through Waikoloa Colony Villas-Kona LLC, completed the $8 million purchase Wednesday from Taisei Corp.
Carr and other company officials were unavailable yesterday to provide details of their proposed project for the fee-simple parcel on the 15th fairway of Waikoloa Golf Club's Beach Course.
Taisei, one of Japan's largest general contractors, joined a partner in 1990 to develop a 219-unit luxury condominium project on the site. But the bursting of the Japanese bubble economy killed the project in 1991 as presales and construction had just begun. Taisei acquired the property later from its partner and listed it for sale last summer.
Joel LaPinta, a broker with Prudential Orchid Isle Properties representing Taisei, said the Japanese firm waited to sell the property until the market improved.
Two other residential projects are in development at Waikoloa Resort: a 14-homesite project that California-based developer James Ratkovich & Associates expects to market soon; and Naupaka Place, 11 oceanfront custom homesites that C and H Properties recently began marketing.
Thos Rohr, president of resort master-planner Waikoloa Land Co., said welcomes Carr's project. "Stanford Carr is a quality developer, and I'm confident his Waikoloa Colony Villas will nicely complement our other new residential development projects."
Carr is president of SCD International and Kehalani Development Co., the former C. Brewer Homes. He has other projects on O'ahu, the Big Island and Maui.
Clarification: Kamalani, a residential development at Waikoloa Beach resort, comprises 32 luxury home sites, the first 14 of which will be offered for sale next month. It also includes 72 condominium units. The above, original version of this story had incomplete information.
