The Hawaii Supreme Court has blocked the proposed Kuilima Resort Turtle Bay expansion project on Oahu's North Shore, ruling that an updated environmental impact statement must first be performed.
In a 67-page ruling today, the high court overturned earlier decisions in the Circuit and Intermediate Court of Appeals which held that an original EIS performed in 1985 and partially updated later did not have to be replaced by a new supplementary EIS. Today's ruling means the developer will have to do a new supplemental EIS.
More at the Honolulu Advertiser
Thursday, April 08, 2010
Sunday, March 07, 2010
Plans for Turtle Bay Resort remain uncertain
It has new owners, but any future development awaits Supreme Court
Turtle Bay Resort officially came under new ownership when lenders took title to the property last week, but the change will do little to create more certainty for the future of the 858-acre resort on Oahu’s North Shore.
The big question hanging over the property is whether the consortium of lenders that took back the property from Oaktree Capital Management in lieu of foreclosure will carry through on a 24-year-old development plan to build thousands of additional hotel and condominiums units.
More at Pacific Business News
Turtle Bay Resort officially came under new ownership when lenders took title to the property last week, but the change will do little to create more certainty for the future of the 858-acre resort on Oahu’s North Shore.
The big question hanging over the property is whether the consortium of lenders that took back the property from Oaktree Capital Management in lieu of foreclosure will carry through on a 24-year-old development plan to build thousands of additional hotel and condominiums units.
More at Pacific Business News
Wednesday, February 24, 2010
Oahu’s Turtle Bay Resort has new owners
The Turtle Bay Resort on Oahu’s North Shore is officially under new ownership.
A consortium of international investment management firms took back the property from Oaktree Capital Management in a deed in lieu of foreclosure transaction that closed on Tuesday.
The 858-acre resort includes a 443-room hotel, two golf courses and a spa.
The consortium, which has managed the resort for nearly two years, already has spent $6 million to upgrade its infrastructure and hotel, including expanding Kuilima Drive from two to four lanes and upgrading the well, according to developer Stanford Carr, the resort’s interim property manager...
There are no immediate plans to build any additional hotels or condominiums at the resort.
More at Pacific Business News
A consortium of international investment management firms took back the property from Oaktree Capital Management in a deed in lieu of foreclosure transaction that closed on Tuesday.
The 858-acre resort includes a 443-room hotel, two golf courses and a spa.
The consortium, which has managed the resort for nearly two years, already has spent $6 million to upgrade its infrastructure and hotel, including expanding Kuilima Drive from two to four lanes and upgrading the well, according to developer Stanford Carr, the resort’s interim property manager...
There are no immediate plans to build any additional hotels or condominiums at the resort.
More at Pacific Business News
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