May 09, 2018
Dec 30, 2018
REO / Lender Owned
Listing RemarksGreat site directly above Kailua Village and the pier with unsurpassed views. Project will accommodate the estate lot lifestyle that is so popular with a proximity to the urban core and conveniences of such a location that is unequalled, or re-zone to higher density zoning designations for single-family and multi-family project. Would work very well in conjunction with development of nearby 129-acre “Keopu” property (listed separately). Very high barrier to entry market so there is no real competition in existence.
99.306 acres zoned “RA-1a” (Residential/Agricultural: one acre minimum lot size) + 8.87 acres zoned “RM-3.5” (multi-family: one unit per 3,500sf land area). Finish planning and subdivision work and build homes or sell lots. Multi-family zoned land and different elevations allow you to have several different products and price points in the project.
Property is in KCDP “Urban” area and will need to comply with requirements as Zoning Ordinance needs to be extended, which triggers compliance requirement. For high-density project, recommend Transit Oriented Development project be pursued. 57 water units already committed, additional water units may be available, about $7,000 each unit. Ten affordable housing “credits” already purchased for $600,000 and included in sale. Additional credits available. 20% of total unit count needs to be either affordable or have “credits” purchased. Sewer, water, electrical, phone, CATV available. Water system may be private or public, depending on negotiations with the County and a nearby property owner for a tank site (for a County system).
Roadway to be extended from current dead-end next to Lowes up to mauka portion of multi-family zoned property in “dedicable” condition with curbs, gutters and sidewalks. Archeological Report done and approved. Portion of property in Flood Zone "A", Base Flood Elevations need to be defined.
|Address:||Lanihau 1st - Hienaloli 1st 96745|
|Lat/Long:||19.64678815 | -155.98445017|
|Property Type:||Vacant Land|
|Three Quarter Baths:|
|Assessed Land Value:||$877,500|
|Annual Tax (Year):||2015|
|Garage Area:||0 sqft|