Turtle Bay Resort Downsized Its 1985 EIS
- Sep 07, 2011
by Liviu Oltean, Associate Editor
After the Hawaii Supreme Court’s ruling that Turtle Bay Resort must update their environmental impact statement (EIS) approved in 1985, Turtle Bay Resort has filed a supplemental environmental impact statement preparation notice (EISPN) on August 23, 2011, the Pacific Business News reports. The court’s decision was sustained on the grounds that the original EIS didn’t address environmental impact after 2000.
The 1985 EIS stipulated the development of 2500 hotel units, 910 resort residential units, and 90 residential housing units. In the recent EISPN, the company presented five alternatives that will be subject of evaluation for environmental impact:
• Full Build Out: 2500 hotel units, 910 resort residential units and 90 residential housing units.
• Reduced Density: 625 hotel units, 590 resort residential units and 160 residential housing units.
• Resort Residential Only: 0 hotel units, 454 resort residential units and 46 residential housing units.
• Kawela Conservation: 625 hotel units, 565 resort residential units and 160 residential housing units.
• No Action.
The EISPN also stipulates the implementation of various measures that will mitigate the impact on the environment: reduced density of units, a shoreline trail, four oceanfront parks and shoreline setbacks that reduce the visual impact of buildings. Turtle Bay Resort chose the Reduced Density Alternative as the preferred one, greatly downsizing their initial project.
In related news, Prudential Mortgage Capital, the commercial mortgage lending business of Prudential Financial Inc., recently granted a $137.8 million loan to Outrigger Hotels & Resorts. The loan was secured by Outrigger Reef on the Beach, which has recently undergone a $113 million renovation. The loan was handled by Fred Van Overbeek, Prudential Mortgage Capital Co.’s principal, and Elizabeth Velasquez, director of originations. “The hotel industry is in the midst of a recovery following a severe downturn, and Hawaii has enjoyed that recovery,” van Overbeek said.