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The Honolulu Advertiser

Updated at 12:28 p.m., Thursday, July 19, 2007

Bridge Aina Le'a involved in 'The Villages of Aina Le'a'

News Release

Bridge Aina Le'a LLC announced yesterday that it has entered into a joint venture with D W Aina Le'a Development LLC, to continue to develop the mixed-use golf course resort community known as "The Villages of Aina Le'a" on the Big Island of Hawaii. Bridge Aina Le'a has worked with the State of Hawaii and the local community to carefully design a project that will include 45 acres of retail and hospitality, a golf course, hotel, affordable housing, and a mix of approximately 2,500 high-end luxury home sites.

"I am very pleased to announce our joint venture with D W Aina Le'a Development, to develop the infrastructure of a project that will bring the vision of so many people here in Hawaii to a reality," said John Baldwin, the Chief Executive Officer of Bridge Aina Le'a. "The principals of D W Aina Le'a Development bring on-site project management and additional capital to implement the development of The Villages of Aina Le'a. Their resort and construction experience, as well as their industry contacts, add tremendous value toward the completion of this project. Steve Dunnington, a partner in D W Aina Le'a Development, will take over the on-site management before the end of July."

"The Villages of Aina Le'a is a well thought out project and we're excited to be able to participate in bringing this development to the community. With an investment of over $200 million, and multiple builders spending hundreds of millions of dollars on the construction of new homes, a golf resort and retail centers, we'll create hundreds of good-paying jobs, new business for local vendors, and a larger tax base to support community services," said Mr. Dunnington.

Robert Wessels, Dunnington's partner, remarked, "Our first priority is to begin the development of well-designed affordable family homes for the community. We're also finalizing discussions with shopping center builders to quickly provide the retail and hospitality services for the community and the patrons of the world-class resorts immediately surrounding our project. To fully utilize the 270-degree ocean view from our land, and to complement the terrain, we'll select the leading home builders both in Hawaii and internationally to partner with us in building this development."

The Villages of Aina Le'a is a 1200-acre development, centrally located on the Gold Coast of Hawaii. The community development includes a shopping center, affordable homes, shared-ownership resort condominiums, a hotel, a luxury lodge, townhouses, single-family homes and estate homes, all with ocean views and surrounding a golf course. The project is the largest fully entitled urban housing and retail development in the State of Hawaii.

For further information about The Villages of Aina Le'a, email info@ainalea.com or call 808-854-9945.