Ledcor to launch sales of first project in The Wailea Hills Collection
Ledcor Development LP is planning to launch sales this month for the first project in a collection of luxury resort residential developments in Wailea on Maui, on land purchased last year from Alexander & Baldwin.
Lai Loa, which will have 75 units in 15 buildings on 13 acres, will be the first of several projects under The Wailea Hills Collection in the area around the Wailea Blue Course, makai of Piilani Highway.
Ledcor acquired the first 13 acres from Alexander & Baldwin (NYSE: ALEX) in February 2019 for $9.66 million. The land is part of 42 acres in Wailea A&B reported selling during the first quarter of 2019.
Affiliates of Ledcor, which has corporate head offices in San Diego and Vancouver, British Columbia, currently lease more than 100 acres on four other parcels in the mauka part of Wailea slated for future residential use.
The buildings in Lai Loa, which will be located off Kai Malu Drive, will be oriented along the elevation to maximize the ocean views for the single-level two- and three-bedroom units and four-bedroom penthouses whose prices will start at $1.5 million.
“Our vision for The Wailea Hills Collection is to embody the spirit of Wailea and contribute to the local community in a meaningful way,” Paul Woodward, senior vice president of Ledcor Development LP, said in a statement. “Ledcor’s local team has designed the first offering in this collection with the utmost reverence for the beautiful setting of the site and the surrounding community so it can be a true point of pride for Wailea.”
Seattle-based architecture firm Weinstein A+U and Honolulu-based Philpotts Interiors are leading the design team for the project, while Polaris Pacific is handling sales and marketing.
Ledcor also developed the Luana Garden Villas at the Honua Kai Resort & Spa near Kaanapali. Polaris Pacific is also handling sales and marketing for another Wailea project, Makalii at Wailea, which is more than 95% sold, according to the project’s website.