HONOLULU (AP) - An agreement to preserve nearly 630 acres of open space on Oahu's North Shore has been finalized.
The $45 million deal with Turtle Bay Resort was finalized Friday.
As part of the agreement, Turtle Bay Resort will limit development to 725 hotel and housing units in an area that's zoned for 3,500 units. The majority of those new rooms will be in two hotels.
To pay for the deal the state of Hawaii chipped in $35 million and Honolulu gave $7.5 million. The remaining $2.5 million came from the U.S. Army and The Trust for Public Land.
The protected property covers more than four miles and represents nearly 4 percent of Oahu's coastline. The development is expected to generate 700 permanent jobs.
The deal includes eight miles of public hiking trails.
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