HONOLULU (AP) - Turtle Bay Resort has slated a $52 million exterior hotel and landscape renovation to begin next year, the first phase of a large redevelopment plan.
The resort on Oahu’s North Shore was recently acquired for about $330 million by Blackstone Group, which is gearing up for an expansion that allows for about 750 units, the Honolulu star-Advertiser reported Tuesday.
The resort expects to complete the design portion of the first phase this year and begin the renovation in May, said Jerry Gibson, the resort’s vice president and managing director. This phase will address the outside of the hotel and the surrounding grounds and golf course. The resort expects about 300 to 400 construction jobs to be created.
A date has not yet been set for the second and third phases, which are expected to add new accommodations ranging from condominium hotels, private residences and potentially a small hotel tower, Gibson said. It could also add 25 temporary units like travel trailers or yurts to provide a camping-like option.
“We really want to highlight the natural setting,” Gibson said. “We haven’t decided on the exact locations or mix of units yet, but we plan to be really creative.”
A redevelopment plan was finalized in 2015 after community resistance stopped a previous plan by the resort’s former owners to build 3,500 additional units. The state Board of Land and Natural Resources agreed to buy some of Turtle Bay Resort’s development rights to preserve nearly 79 percent of its undeveloped property. The deal allowed the resort to retain areas near the existing hotel for development of 625 rooms and 100 homes.
The resort is also looking to increase investment in the community through the Turtle Bay Foundation, which provides college scholarships and funds dozens of local organizations.
Blackstone also acquired the Ritz-Carlton Kapalua and the Grand Wailea on Maui this year.
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Information from: Honolulu Star-Advertiser, http://www.staradvertiser.com
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