Coco Palms developer applies for permits to rebuild Kauai resort.
From Pacific Business news on October 20, 2014.
From Pacific Business news on October 20, 2014.
The Hawaii developer seeking to redevelop the iconic Coco Palms Resort on Kauai has submitted applications for permits to rebuild the Hyatt-branded East Kauai resort.
Chad Waters, a managing partner of Coco Palms Hui LLC, told PBN on Sunday that the firm applied for the special management area use, project development use, variance and class IV zoning permits with the County of Kauai on Friday.
"We hope to be able to review the project plans with the [Kauai County] Planning Commission prior to the end of 2014," he said. "Friday was a significant day for the revival of the Coco Palms Resort."
Waters noted that Coco Palms Hui anticipates opening the new resort in early 2017.
"We would like to express our appreciation to all that have contributed to this process to date," he said. "There have been many people from the community of Kauai that have worked diligently and tirelessly to get us to this important step for the project, [and] because of their support and hard work, we have made significant progress towards the rebirth of Coco Palms. It has been a long and detailed journey to get this far."
Coco Palms Hui, which is led by Waters and Tyler Greene, managing partners of Honolulu-based Bridge Real Estate, expects to also reopen the shuttered Seashell Restaurant across the highway from Coco Palms in January 2016.
Last month, the redevelopment of Coco Palms took another big step when the current owner of the property transferred the property to the lender, Prudential Insurance.
Coco Palms Hui told PBN that it is buying the property from Prudential.
The resort, which was featured in the Elvis Presley movie "Blue Hawaii." suffered extensive damage from Hurricane Iniki in 1992 and never opened.
Coco Palms Hui has plans to rebuild the resort with about 350 units, with room rates reflecting the average daily rate on Kauai — about $225.
It's estimated that the redevelopment of the resort will cost more than $100 million.
The redevelopment team includes Unlimited Construction, Agor Architecture, Philpotts & Associates and McKelvey Associates.
Chad Waters, a managing partner of Coco Palms Hui LLC, told PBN on Sunday that the firm applied for the special management area use, project development use, variance and class IV zoning permits with the County of Kauai on Friday.
"We hope to be able to review the project plans with the [Kauai County] Planning Commission prior to the end of 2014," he said. "Friday was a significant day for the revival of the Coco Palms Resort."
Waters noted that Coco Palms Hui anticipates opening the new resort in early 2017.
"We would like to express our appreciation to all that have contributed to this process to date," he said. "There have been many people from the community of Kauai that have worked diligently and tirelessly to get us to this important step for the project, [and] because of their support and hard work, we have made significant progress towards the rebirth of Coco Palms. It has been a long and detailed journey to get this far."
Coco Palms Hui, which is led by Waters and Tyler Greene, managing partners of Honolulu-based Bridge Real Estate, expects to also reopen the shuttered Seashell Restaurant across the highway from Coco Palms in January 2016.
Last month, the redevelopment of Coco Palms took another big step when the current owner of the property transferred the property to the lender, Prudential Insurance.
Coco Palms Hui told PBN that it is buying the property from Prudential.
The resort, which was featured in the Elvis Presley movie "Blue Hawaii." suffered extensive damage from Hurricane Iniki in 1992 and never opened.
Coco Palms Hui has plans to rebuild the resort with about 350 units, with room rates reflecting the average daily rate on Kauai — about $225.
It's estimated that the redevelopment of the resort will cost more than $100 million.
The redevelopment team includes Unlimited Construction, Agor Architecture, Philpotts & Associates and McKelvey Associates.
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