Country Club Reeds Bay Banyan Drive

[ericlp]

I was just wondering if any one had any updated news on what's going on with the master lease? Will the renew it? Searched google with out much luck. Seems some thing they will demolish the buildings that are worth around 80 million. Doesn't seem too likely to me, but after all this is puna.

What do you think? Is it worth buying a 10K condo for 3 years with an ocean view? 3/2015? I thought it might be fun to go in with a few friends and split the cost just to spend some time in Hilo. I kinda wanted to throw this out there. Anyone own a condo or experience staying there? Any problems? Thoughts? What hotel is better? Country Club or Reeds?

Thanks!

[mailesomaha]

I put in an offer for $4,800; I think they're going to take it!
Wish I knew more about the leasehold prospects.

[Rene]

I heard DHHL owns the whole of Banyan drive and they want to "upgrade" the area. This was a few years back but I'm sure they will now lease out anything for as cheap as the listings are now. How does one come up with the figure of 80 million for that building ? just curious..If that building was worth 10 million I'd be surprised.

[Carey]

The State Water, Land & Ocean Resources Committee will be discussing Bill 2366 today, This bill is looking to create an entity (East Hawaii Development Dist) & board to manage the parcels along Banyan, that include the Country Club Hawaii Condo Hotel. Hilo Rep Jerry Chang is the author of the bill:
http://www.capitol.hawaii.gov/session201...B2366_.pdf