News Flash--Kauai Lagoons construction halted!

By
Real Estate Agent with Keller Williams Realty Maui Hawaii Lic. # RB-20941

The lead paragraph in today's Pacific Business News (PBN) article on the Marriott Kauai Lagoons resort reads "Marriott has halted construction at its $1.4 billion Kauai Lagoons resort project..."  According to PBN, all vertical construction is on hold but infrastructure work will continue.  In the past, one might well have assumed that work stoppage was due to permitting problems.  But in today's world, the big gorilla in the room is the economy and that is reported to be the issue in this and other stoppages around the island and indeed the state.

Kauai Lagoons is planned to be a mix of several types of ownership units including full-ownership, fractional-ownership, and time share.  Custom home sites are also part of the plan.  Kauai Lagoons is a gorgeous oceanfront property with man-made lagoons navigable by power boat. 

It's still early morning here in Hawaii and I have not been able to verify this news with other sources.  However, it's worth noting that Pacific Business News is a trusted news source here in Hawaii.  The PBN article is located HERE.

Aloha!

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Richard T. Dolbeare, R(B)

Keller Williams Realty(808) 651-4550

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Rainmaker
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Jeff&Grace Safrin
F.C.Tucker 1st Team Real Estate - Valparaiso, IN
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Wow yours area is an international travel place of interest Richard - for Marriott to cease building is really saying something about the global economy!

Sincerely,

Grace

Nov 26, 2008 08:15 AM #1
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