Villages at Aina Lea Update-May 2017
I’m often asked by clients for an update on The Villages at Aina Lea. For those not familiar with this development, it is the 1,099+ acre development, “mauka” of the Mauna Lani Resort-across the highway.
Since 2009-10 the developer finished a majority of 40, two-story town-home buildings with distant ocean views. Selling the homes is a different story based on recent negative news regarding their attempted merger with a potential partner and source of public funding via the US stock market.
The approximate 40 town homes are part of the affordable housing section of the development needed to be completed first by the owners to enable further and future construction. The developer expected to close a business merger with Origo Acquisition Corp., which is publicly-traded on the Nasdaq that would have helped finance completion of a stalled initial phase that includes the long-empty town homes.
Pacific Business News reports the following from a recent article-click here for the entire article. This article does a great...
