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Development of the property would occur in four phases as shown in Exhibits A- <br /> 8, A-9, A-10, and A-11 of the Application, and as follows: <br /> Phase I <br /> Phase I would be constructed just north of the UHWH campus to help facilitate <br /> and support the growth of the University. Construction would commence within <br /> two years of receipt of all necessary development permits and be completed <br /> within five years of the commencement date. <br /> • Up to 250 residential units, <br /> • Up to 30,000 square feet of commercial space, <br /> • Up to 60 hotel rooms, <br /> • 10 acres of improved park of a 20-acre public park, <br /> • A privately owned and maintained wastewater treatment plant, <br /> • Extension of Road 3A(Ane Keohokalole Highway) from UHWH to the <br /> University Village Town Center. <br /> Phase II <br /> Phase II would expand development centered around the University Village Town <br /> Center and construction would commence within two years of receipt of all <br /> necessary development permits and be completed within five years of the <br /> commencement date. <br /> • Up to 200 residential units, <br /> • 10 acres of unimproved public park conveyed to the County, <br /> • Extension of Road 2 (University Drive) from about 1,000 feet mauka and <br /> 1,500 feet makai of Road 3A(Ane Keohokalole Highway). <br /> Phase III <br /> Phase III would mainly be constructed between Queen Ka`ahumanu Highway and <br /> Road 3A/Main Street(Ane Keohokalole Highway). Upon completion of Phase <br /> III, the public will be able to drive from Queen Ka`ahumanu Highway to the <br /> UHWH campus through the Palamanui property. Construction would commence <br /> upon completion of Phase II, or possibly earlier depending on market conditions, <br /> and be completed within five years of the commencement date. <br /> -12- <br />