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May 15, 2017

Liliʻuokalani Trust Selects Developer for Kona Project

Planning & Development Underway for Hawaiʻi Island’s Mixed-Use Center

KAILUA-KONA, HAWAII (May 15, 2017) – Following a thorough process that started in late 2016, Liliʻuokalani Trust has selected the partnership of DiGeronimo Companies, Fairmount Properties, and Los Angeles-based JCI Development, Inc. (DFJ) to develop the 69-acre Makalapua Project District in Kailua-Kona into a vibrant hub of activity anchored by retail, entertainment, residential, hospitality uses and open space.

“We sought an organization that will help us create a long-term revenue stream to fulfill our commitment to improving the lives of Hawaiian children. In DFJ, we have not only found a highly capable developer, but also an organization that shares our values,” said Robert H. Ozaki, President and CEO of the Liliʻuokalani Trust.

“It is a tremendous honor to be selected by Liliʻuokalani Trust in its efforts to develop, enhance and refine such a strategic Kona property. We understand the gravity and importance of the faith placed in us and are fully prepared to bring the Trust’s vision to reality,” said Emerick Corsi, Principal at Fairmount Properties. Kevin DiGeronimo, Principal at the DiGeronimo Companies, added, “We are committed to creating a plan with Liliʻuokalani Trust that puts the land and families first and honors the cultural legacy of both Kona and Queen Liliʻuokalani.” 

The Makalapua Project District, bordering the Kona Commons Shopping Center and Kailua Park (Old Airport Park), is in alignment with the Kona Community Development Plan and encourages safe and smart growth in the area. The mixed-use project to be built over 15 years includes 300 residential units, 220 hotel rooms, 470,000 square feet of commercial space and 50,000 square feet of performance space. Liliʻuokalani Trust is working through the County entitlement process for the project, providing flexibility in uses in order to match market needs and demands. “The land of Keahuolū unites Liliʻuokalani Trust and Kona. Our futures are tied together. The future revenue generated by this project will contribute to enriching the lives of Kona families and will provide a long-term stable source of income for our charitable programs,” said Liliʻuokalani Trust Vice President LeeAnn Crabbe.

Liliʻuokalani Trust and DFJ have started work to refine the site plan, create the look and feel of the project, as well as identify key anchor tenants. “We applaud Liliʻuokalani Trust for their vision and look forward to creating a world-class project that perpetuates the Queen’s legacy,” said Jeff Isenstadt, President of JCI Development.

About Liliʻuokalani Trust

Lili‘uokalani Trust was established by Hawaii’s last ruling monarch, the beloved Queen Lili‘uokalani. Her Deed of Trust, executed in 1909, directs that the Queen’s lands be utilized to serve and provide for orphan and destitute children in perpetuity. The core Trust assets include some 6,400 acres of land, the majority in Kona.

The vision of Liliʻuokalani Trust is e nā kamalei lupalupa, “Thriving Hawaiian Children.” Its mission: “We believe in the resiliency of our Hawaiian children; we advocate and work towards systemic change for their wellbeing and build them pathways to thriving lives.”  More information on the Trust and its activities can be found at www.onipaa.org.

About DFJ

DFJ is a formalized partnership building upon decades of business and personal relationships between the three organizations: DiGeronimo Companies, Fairmount Properties, and JCI Development.  Our partner companies are well-respected industry leaders in mixed-use real estate development as well as the construction industry throughout the U.S.  More information on our companies is available at our websites – www.digeronimocompanies.com; www.fairmountproperties.com ; www.jcidevelopment.com.

For more information on the Makalapua Project District, please contact:

Lili’uokalani Trust (for project info): Michael Shibata, Director, Real Estate, Phone 808-203-6150, mpd@onipaa.org 

DFJ (for leasing / project info): Emerick Corsi, Principal, Phone (216) 514-8700, ecorsi@fairmountproperties.com


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