(Photo courtesy of Forest City Hawaii)

MEDIA RELEASE

With overwhelming support from the community, Kamakana Villages at Keahuolu successfully secured its County 201H affordable housing exemptions and state Land Use Commission reclassification this past December.

Since then Forest City Hawaii in partnership with the State of Hawaii Housing Finance and Development Corporation has been busy moving forward with project development. We wanted to take a moment of your time to update you on the project.

Who We Are

Kamakana Villages at Keahuolu will be a new part of the developing North Kona community. It is envisioned as an environmentally sensitive, sustainable community centered around new, affordable homes for Kona’s working families on 272 acres just mauka of Kailua Village.

The community will be a vibrant, mixed-use neighborhood that includes a town center with shopping and dining, two new schools, more than 28 acres of parks including two large parks with ball fields and play structures, open spaces and 9-acres of preserved Native Hawaiian archaeological sites.

Green and Sustainable

Kamakana Villages will be a cutting-edge, sustainable, energy-efficient community with homes and commercial structures designed to LEED criteria and incorporating renewable energy, solar hot water and water conservation strategies in its design.

Built in Phases

The first phase is planned to begin delivery of completed homes in 2012. The total build out of Kamakana Villages is phased over a 16-year timeline, with more than 50 percent of all homes built in Kamakana Villages priced at County affordable levels.

Jeremy Gambing and Dillon Watai representing Lea Lea Na Opio, Kealakehe Community Association’s youth group, attended the 201H process.

Project Update

With the 201H process complete, Forest City Hawaii now turns its attention to zoning, bulk lot subdividing and securing plan approvals for commercial and multi-family blocks for Kamakana Villages.

It is anticipated that residential lot subdivisions, design guidelines and permitting will be completed in early 2012. Best case, construction begins and first homeowners and renters move in towards the end of 2012.

Conflict Resolution

With the approval of the 201H State Land Use Commission and the 201H affordable housing exemption process, Queen Liliuokalani Trust, an intervenor in the reclassification proceedings opted to challenge the 201H approval.

Forest City Hawaii is hopeful both sides can come to an agreement so the Kamakana Villages project and its timeline may continue moving forward in 2011 and provide the community with much needed affordable housing.

Kamakana Villages at Keahuolu First Phase

As the Ane Keohokalole highway construction continues, Forest City Hawaii has installed water lines along the highway as a proactive measure that will ensure minimal road interruptions later.

The first phase or piko of the project will start at the far north end abutting the DHHL parcel proposed for commercial and retail use.

Forest City will build Manawalea Street from Ane Keohokalole Highway connecting to Keanalehu Drive, providing additional connectivity to the mauka areas including Kealakehe.

The first phase will also include vertical building including mixed-use, high density development maximizing the connectivity synergy created with Ane Keohokalole Highway and Manawalea Street connections.

Built by One of America’s Best Community Developers

Forest City is a highly acclaimed homebuilder and developer of new communities. The company has earned numerous awards for sustainable and environmentally conscious developments nationwide.

Forest City’s 80-year legacy as a real estate and land developer, community builder, and creator of economic growth, includes a wide variety of innovative developments in both the city and countryside.

For more information on Forest City, visit www.forestcity.net or to a view a Forest City award-winning community, visit www.stapletondenver.com