Over $23 million in infrastructure improvements to begin immediately
KAPOLEI, HAWAII – James Campbell Company LLC announced today that its Kapolei
Properties Division has completed the sale of 514 acres of property, known as the Kapolei West project, to China Oceanwide Holdings Limited for $103.4 million.
Kapolei West is situated between the City of Kapolei and the Ko Olina Resort. The project was approved in 2008 and master planned as an open space themed community with mixed-use residential and commercial, with up to 2,500 residential units, a golf course or open space, an elementary school, and a future transit hub.
“This is an important step in fulfilling the Kapolei Area Long-Range Master Plan,” said Richard
Dahl, president and CEO of the James Campbell Company. “Since Kapolei West’s approval in 2008, we have sought out an exceptional residential master developer to bring the long-standing plans for this project to fruition. China Oceanwide has a strong track record of investment, with significant U.S. investments since 2013, and is currently developing resort properties in Ko Olina.”
Beginning immediately following the transaction, over $23 million will be invested in infrastructure improvements by the Kapolei Properties Division and China Oceanwide Holdings Limited in Kapolei West, including the construction of regional roadway and drainage infrastructure.
“The James Campbell Company is very pleased to partner with China Oceanwide on these critical infrastructure improvements. The improvements will include the extension of Kapolei Parkway, which will benefit the entire Kapolei community, both residents and businesses,” said Dahl.
To date, the James Campbell Company has invested more than $230 million in infrastructure improvements in the Kapolei area and its Kapolei Properties Division is in the midst of its recent $53-million infrastructure investment for widening and improvements to Kalaeloa Boulevard, along with the construction of a new sewer system.