Princeville Timeshares put on Hold?

Jeff Stone and his company Princeville Associates LLC purchased a large part of Princeville from the Princeville Corporation in 2005.Stone paid around $220M for the purchase of the 9,000-acre Princeville resort, including the 252-room Princeville Hotel, two Robert Trent Jones Jr. golf courses, the Prince and Makai Course, a tennis club, health spa, shopping center (now on the market) airport and other land holdingsin and adjacent to Princeville.Part of the ongoing development included single family lots known as Greens and Meadows.

Originally zoned R-4 for the development of luxury single family homes, Jeff is now proposing to rezone to R-10 and build 312 timeshare units. They were on the Planning Commission Agenda for the rezoning on Tuesday, January 27, 2009! Stone felt that timeshares would take up less space than single family homes, thus providing more green space. Needless to say, the residents of Princeville did not feel the same way.

The Garden Island has now reported that Princeville Associates has withdrawn their zoning application and are looking to build a better relationship with the community. Read the full report about the ZONING CHANGE IN PRINCEVILLE and THE POSSIBILITY OF MORE TIMESHARES.

The Greens are the lots just off the highway adjacent to the Prince course and the Meadows are a larger sprawl, orginally planned as agricultural farms in the valley behind the Prince course.