The $3.5 million demolition of the iconic Coco Palms Resort on the island of Kauai has started and is expected to take up to six months to complete, the developer told Pacific Business News.
Construction on the shuttered resort, which will be redeveloped into a Hyatt-branded hotel, is expected to start in December and be finished in the second quarter of 2018, Chad Waters of Coco Palms Hui LLC, told PBN. Demolition started last last week.
Coco Palms Hui is finalizing a deal for a general contractor for the new resort project, which is expected to cost $135 million to develop.
WATG is the architect of record for the project, with Ron Agor as an architectural consultant and project manager.
Prudential has an interest in the project, with EB-5 funding also being used to fund construction for the development. The EB-5 visa provides a way of obtaining a green card for foreign nationals who invest money in the U.S.
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