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KUKUI´ULA
GAINS KEY APPROVAL, BREAKS GROUND ON BYPASS ROAD
Joint Venture Moving Ahead on Infrastructure for Kauai Resort
Residential Development
KUKUI´ULA,
KAUAI, HAWAII – (January 23, 2006) – Kukui´ula
Development Company (Hawaii), LLC – the joint venture (JV) partnership
between Alexander & Baldwin, Inc. (NASDAQ: ALEX) and DMB Associates,
Inc. – announced today that it gained final County approval on plans for
Kukui´ula’s
Western Bypass Road, the first of the project’s two major roadways, and
is initiating construction.
Located on approximately 1,010 acres along Kauai’s picturesque southern
coast, Kukui´ula
is a master planned resort residential community, adjacent to the Poipu
Beach Resort and historic Koloa Town, Kauai’s first sugar plantation
town. Within Kukui´ula
will be approximately 1,200 custom homesites, cottages and a resort spa.
Other amenities will include a Tom Weiskopf-designed championship golf
course and clubhouse, a recreational center, a network of parks and
trails and an inviting island-style village center with more than 75,000
square feet of boutiques, cafes and restaurants. A 20-acre community
park and 2-acre beach park at Kukuiula Bay also are planned.
A construction contract valued at $13 million has been awarded to
Hawaii-based Kiewit Pacific Co. for the two-mile long Western Bypass
Road, the north-south alternative road which runs from the entry of
Kukui´ula
at Lawai Road north to Koloa Road. The road has been named Ala
Kalanikaumaka to honor Hawaii’s late Queen Emma [trans: The Chiefess to
whom everyone looks.] Notice to the contractor to proceed is anticipated
in February; the construction period is projected to be 20 months.
“This is an important day for all of Kukui´ula’s
stakeholders, especially Kauai’s residents,” said A&B President and CEO
Allen Doane. “Construction of this roadway will fulfill one of the
commitments we made to the community and to government officials that
the bypass road would be constructed first, before the homes.” Doane
continued, “Kukui´ula
will be a very special project, with a level of quality, location and
ambience unlike anything else in Hawaii. This day marks a milestone long
anticipated.”
To mark the occasion, company officials today held a blessing and
groundbreaking ceremony at the site attended by county officials,
contractors, builders and leaders from the local business community.
DMB Associates, Inc. Managing Director and CEO Drew Brown said, “This
blessing celebrates not only years of planning and preparation but is
the first tangible sign of our unique partnership with A&B. We are
humbled by the depth of A&B’s trust in us and are committed to
fulfilling the incredible dream they have for this community.”
For more information, visit
www.kukuiula.com or call 808-742-0234.
Kukui´ula
is being developed by Kukui´ula
Development Company (Hawai´i)
LLC, a partnership between Alexander & Baldwin, Inc., one of Hawaii’s
largest private landowners and developers, and DMB Associates, Inc., a
Scottsdale, Arizona-based development company and a highly acclaimed
leader in creating successful legacy communities in the Western U.S. for
more than 20 years.
A&B owns 91,000 acres in Hawaii, making it Hawaii’s fourth largest
private landowner. Besides focusing on the development and management of
these core real estate holdings, in recent years A&B has embarked on a
strategy of expanding beyond its historical Hawaii landholdings. A&B’s
strategy has focused primarily on Hawaii, where it has invested in 24
Hawaii properties outside of its core landholdings since 1999. A&B also
has a leased portfolio comprising more than 5 million square feet of
leasable retail, office and industrial space on the Mainland and in
Hawaii. Additional information may be found at its web site:
www.abprop.com
Alexander & Baldwin, Inc. is a diversified corporation headquartered in
Honolulu. A&B’s major lines of business are ocean transportation (Matson
Navigation Company, Inc. and Matson Intermodal Logistics, Inc.); real
estate (A&B Properties, Inc.); and food products (Hawaiian Commercial &
Sugar Company, Kauai Coffee Company, Inc.). Additional information about
A&B may be found at its web site: <www.alexanderbaldwin.com>.
DMB Associates, Inc. (DMB) is a diversified real estate investment and
development firm with real estate holdings through affiliated companies
where people and their passions unite. Founded in 1984, DMB is one of
the most active community developers in the West. Their projects include
resort/recreational and primary home communities, country clubs,
signature commercial properties, hotels, health clubs and spas.
DMB communities strive to stand apart from traditional "master-planned"
communities by demonstrating an innate understanding of how people want
to live, including: achieving extraordinary standards of quality design
and development at varying price points; promoting community interaction
and lifelong learning and incorporating innovative dimensions of
environmental stewardship, recreation and wellness.
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