Our Hale Makana O Mo‘ili‘ili project in the Star Advertiser
The article, “ Highridge Costa to hold lottery for its Kapolei affordable rentals project” written by Andrew Gomes discusses our Hale Makana O Mo‘ili‘ili project.
Here is an excerpt from his article:
A cluster of nearly century-old homes in Moiliili is slated for demolition next month to make way for high-density affordable housing serving seniors with low incomes.
The planned six-story apartment building with 105 residences is expected to take 17 months to build, and is the product of a more than 2-year-old effort led by the local nonprofit affordable-housing development firm Hawaiian Community Development Board in partnership with California-based 3 Leaf Holdings Inc.
Earlier this month the partnership received state approval to sell $22 million in bonds to help finance the $40 million project, after previously arranging a package of state and federal financing and obtaining City Council approval for project density and fee exemptions under a state affordable-housing law.
“We’re ready to move forward,” said Kali Watson, Hawaiian Community Development’s executive director, who once led the state Department of Hawaiian Home Lands. “It was a long process.”
The project, named Hale Makana O Mo‘ili‘ili is slated to provide studio and one- bedroom apartments with projected monthly rents from $521 to $1,226 for low-income residents age 55 and up.
Please read full article here.