HONOLULU- A Florida development firm has bought beachfront property at Ko Olina Resort & Marina in order to develop a luxury CONDOMINIUM HOTEL that it hopes to brand with the Donald Trump name.
Miami-based Crescent Heights stated that it plans to develop the 16-story condo hotel later this year with 400 to 500 units on eight acres fronting Lagoon No. 3 next to the Marriott Ko Olina Beach Club timeshare resort.
The project would be the second hotel at Ko Olina and would boost the revival of the once-stalled master-planned West Oahu resort that has seen mostly residential and timeshare development in the past few years.
As a condo hotel, the project would operate as a hotel but with units sold to individual investors who have an option to include their units in an onsite hotel management operation. Typically, few condo hotel buyers use their units as residences or independently rent them to visitors.
Crescent Heights anticipates selling studio, one-bedroom and two-bedroom units this summer, though it is too early to estimate prices, according to Kathryn Acorda, the company's regional marketing director.
Construction is projected to be finished in 2008.

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