ROYAL-CLARK DEVELOPMENT PROJECTS IN HAWAII

Royal Clark Development's Projects in Hawaii

Bay View Estates

- (BVE-LLC) is Oahu's Newest Residential Subdivision located along Kaneohe Bay Drive in beautiful Windward Oahu.

Bay View Estates will consist of 26 fee-simple, single-family homes conveniently located within minutes of the Pali, Likelike, and H-3 freeways. Homes will have breathtaking views of the ocean, bay and the majestic Ko'olau Mountain range. Click here to view the Bay View Estates Website.

Waipahu Terrace

- a 17-lot single-family residential subdivision in Waipahu, Oahu, Hawaii (completed).

Lease Participation Income - Share of the lease income in the Halawa Business Park over the next 10 years totaling in excess of $2 million.

Manoa Hillside Estates

- a 62-lot subdivision located in Honolulu, Hawaii. 95% sold.

Acquisition of the Hawaiian Properties Division

On August 31, 1988, Royal-Clark Development Co. acquired all of the assets of Lear Siegler Diversified Holdings Corp's Hawaiian Properties Division. The purchase included the following:

a. Halawa Business Park - a 64-lot industrial park. This is a leasehold development on land owned by The Queen Emma Foundation. A $6.8 million Improvement District Bond issued by the City & County of Honolulu was used to complete improvements for this project.

b. Lease management and participation on over 5,000 Bishop Estate leases developed by Lear Siegler, Inc. in Leeward Oahu.

c. The staff of the Hawaiian Properties Division of Lear Siegler, Inc. Members of the staff have been responsible for development of over 10,000 residential units under their development agreement with the Bishop Estate through Lear Siegler, Inc. and its predecessor company, Amfac, Inc.

The Bluffs -

- a 144-lot subdivision located in Kailua, Hawaii. Our 1992 and 1993 Parade of Homes entries received the coveted Grand Champion award (best in show - all islands). This subdivision is complete.

Kaopa Park Place

- a 40-unit duplex rental project located in Kailua, Hawaii has been developed and sold.

City Square

- Former GEM of Hawaii, Inc., President Glenn Kaya is developing a $7 million, 130,000 square foot retail complex fronting Dillingham Boulevard with Royal-Clark Development Co.

Halawa Business Park

- Phase II - This is a 69-acre business park located in Halawa Valley, Honolulu, Hawaii. A leasehold development on land owned by The Queen Emma Foundation, Royal-Clark's development rights for this project extend through 2027.

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