REST OData calls are definitely the way to go in this case. You already have the id, and you just need to retrieve some additional values. Here is a sample to get you started. The hardest part with working with Odata IMHO is creating the Request Url's. There are a couple tools, that you can find on codeplex, but my favorite, is actually to use LinqPad. Just connect to your Org Odata URL, and it'll retrieve all of your entities and allow you to write a LINQ statement that will generate the URL for you, which you can test right in the browser.
For your instance, it'll look something like this (it is case sensitive, so double check that if it doesn't work):
"OdataRestURL/TypeSet(guid'" + type[0].Id.replace(/{/gi, "").replace(/}/gi, "") + "'select=new_type,new_description,new_value,new_kind"
Replace OdataRestURL with whatever your odata rest endpoint is, and you should be all set.