Stanford Carr Development broke ground Monday on a $90 million residential neighborhood in Lahaina in West Maui, he confirmed to Pacific Business News.
The Kahoma Village project includes 101 three- and four-bedroom single-family homes and 102 two- and three-bedroom townhouses for a total of 203 homes.
Stanford Carr’s SCD Kahoma Village LLC recently purchased the project’s 22-acre vacant parcel between Honoapiilani Highway and Front Street from The Harry & Jeanette Weinberg Foundation for $14 million.
The project will include a mix of affordable and market rate-priced homes.
Construction on Kahoma Village, which is located south of the Safeway and Longs Drugs-anchored Lahaina Cannery Mall, is scheduled to take about two years to complete.
Carr expects that the project will appeal to local residents because of its location.
The 54-year-old Maui native has developed, or is currently in the process of developing, close to 5,000 homes in the state, from affordable to resort-type subdivisions.
Carr currently has about 10 projects at varying points in the development process including the 388-unit Keauhou Place mixed-use high-rise tower under construction in Kamehameha Schools’ “Our Kakaako” master-planned community and the 128-unit Hale Kewalo affordable rental project that’s about to start construction, both in Kakaako.
He’s also developing a $300 million golf resort community with a four-star hotel on the site of the former Makaha Resort in Leeward Oahu for landowner Pacific Links International as part of a joint venture that aims to create some 500 jobs in the area.
Additionally, Carr is developing a project featuring 120 single-family homes, a recreation center and other amenities on 26 acres in Makaha in Leeward Oahu, as first reported by PBN.
Duane Shimogawa covers energy, commercial real estate and development for Pacific Business News.