{"id":1004103437,"date":"2014-09-07T20:52:58","date_gmt":"2014-09-08T04:52:58","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=289447"},"modified":"2020-04-27T21:58:13","modified_gmt":"2020-04-28T05:58:13","slug":"developer-ed-bushor-acquires-long-stalled-kauai-lagoons-project-for-60m-2","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/developer-ed-bushor-acquires-long-stalled-kauai-lagoons-project-for-60m-2\/","title":{"rendered":"Developer Ed Bushor Acquires Long-Stalled Kauai Lagoons Project for $60M"},"content":{"rendered":"

\"\"<\/a>By Adriana Pop, Associate Editor <\/em><\/p>\n

The unfinished Kauai Lagoons oceanfront resort project on Hawaii\u2019s Garden Isle could soon have a new owner.<\/p>\n

According to the Pacific Business News<\/a><\/em>, Marriott Vacations Worldwide is in negotiations to sell the property to Hawaii developer Ed Bushor for $60 million. The transaction is expected to close in the fourth quarter of this year.<\/p>\n

First planned decades ago by the late hotel developer Chris Hemmeter, the project includes partially built Ritz-Carlton residences, ocean-view subdivisions, ready-to-build home sites with ocean and golf course views, a 27-hole Jack Nicklaus signature-designed golf course and a golf club house.<\/p>\n

Overall, the property\u2019s entitlement allows for the construction of as many as 700 residential units. It is located near the Lihue Airport and covers 83 acres of developable land within the 601-acre Kauai Lagoons master-planned community, one of the largest Hawaii construction projects to be interrupted by the recession.<\/p>\n

\u201cI enjoy finishing projects, (and) I hope that one day we can build a tribute to (Hemmeter\u2019s) brilliance in creating that and finishing it for the state,\u201d Bushor told the newspaper. \u201cThe main concept is to finish the project and help tourism. The economy is back, and Hawaii is firing on all cylinders. It\u2019s really an exciting time for Hawaii.\u201d<\/p>\n

The Marriott International subsidiary halted construction at its $1.4 billion Kauai Lagoons resort development in 2008.<\/p>\n

The company had multiple brands involved in the project, including 14 Ritz-Carlton Residences, 46 Ritz-Carlton Residences town homes, 72 Ritz-Carlton Club fractional ownership residences, 78 Grand Residences by Marriott, 200 Marriott Vacation Club villas and 50 custom-home lots.<\/p>\n

Late last year, Ed Bushor, in partnership with marine artist Wyland, also purchased the Naniloa Volcanoes Resort on the Big Island. The investors paid $5.2 million for the property, which they plan to turn into an environmentally friendly, artistic boutique hotel.<\/p>\n

Photo credit: Marriott Vacations Worldwide<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The unfinished Kauai Lagoons oceanfront resort project on Hawaii’s Garden Isle could soon have a new owner.<\/p>\n","protected":false},"author":260,"featured_media":1004507330,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1588,21742],"tags":[],"class_list":["post-1004103437","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-honolulu","category-latest"],"acf":[],"yoast_head":"\nDeveloper Ed Bushor Acquires Long-Stalled Kauai Lagoons Project for $60M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/developer-ed-bushor-acquires-long-stalled-kauai-lagoons-project-for-60m-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Developer Ed Bushor Acquires Long-Stalled Kauai Lagoons Project for $60M\" \/>\n<meta property=\"og:description\" content=\"The unfinished Kauai Lagoons oceanfront resort project on Hawaii’s Garden Isle could soon have a new owner.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/developer-ed-bushor-acquires-long-stalled-kauai-lagoons-project-for-60m-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-09-08T04:52:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-28T05:58:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Marriotts_Kauai_Lagoons_Villa_Hawaii.jpg?w=1024\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/developer-ed-bushor-acquires-long-stalled-kauai-lagoons-project-for-60m-2\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/developer-ed-bushor-acquires-long-stalled-kauai-lagoons-project-for-60m-2\\\/\"},\"author\":{\"name\":\"Adriana Pop\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/c6fbe4a6cd09e6097b39e787ae96d7ad\"},\"headline\":\"Developer Ed Bushor Acquires Long-Stalled Kauai Lagoons Project for $60M\",\"datePublished\":\"2014-09-08T04:52:58+00:00\",\"dateModified\":\"2020-04-28T05:58:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/developer-ed-bushor-acquires-long-stalled-kauai-lagoons-project-for-60m-2\\\/\"},\"wordCount\":311,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/developer-ed-bushor-acquires-long-stalled-kauai-lagoons-project-for-60m-2\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/Marriotts_Kauai_Lagoons_Villa_Hawaii.jpg\",\"articleSection\":[\"Honolulu\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/developer-ed-bushor-acquires-long-stalled-kauai-lagoons-project-for-60m-2\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/developer-ed-bushor-acquires-long-stalled-kauai-lagoons-project-for-60m-2\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/developer-ed-bushor-acquires-long-stalled-kauai-lagoons-project-for-60m-2\\\/\",\"name\":\"Developer Ed Bushor Acquires Long-Stalled Kauai Lagoons Project for $60M - 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