HONOLULU (HawaiiNewsNow) -
Countless headlines were written at the old
Honolulu Advertiser building and put into newspapers for people to read at
home. But soon the site itself will be home to hundreds of people.
The 801 South Street high rise will feature
635 units in 46 stories with studios, one and two bedroom condos. The
units are listed between $250,000 to $550,000. In all seventy five percent of
them will be offered to the lower income.
"It's a segment of our market that is
just starving for inventory," said Jason Nishikawa, Marcus and Associates
Project Broker.
It's the first project under the Kakaako
workforce housing ordinance focusing on the working class. It's
affordable but not government assisted.
"This is not affordable housing in the
sense that a lot of people know. This is a workforce housing project that just
happens to have affordably priced units," said Nishikawa.
The real estate office at the corner of Queen
and Keawe Street opens Saturday but people like Leroy Nosaka are dropping in
early. He's checking out the place for his daughter in Kahaluu.
"She is temporarily living with me so we
are trying to find a place that is convenient and agreeable to her and this is
the place," said Nosaka.
To qualify a single person must make less
than $85,000 and a family of four less than $120,000. Keep in mind these
are not luxury units. To stay affordable there isn't a pool or gym.
All the units are smaller than 820 square feet. But maintenance
fees are also under $300.
Developers are expecting high demand so
instead of waiting in long lines they will have a lottery. People can
pick up a packet and return the documents later.
"No
camping out necessary," said Nishikawa. "In the documents itself you
would need to provide two years of tax returns, W2's, current pay stubs and
that's pretty much it."
"I was always unlucky at Las Vegas,
maybe my luck, her luck might be better," said Nosaka.
Prospective buyers will have to get their
paperwork together quickly. The lottery for eligible buyers will be March
23. Just two weeks away.
The Hawaii 5-0 crew, which has been filming
at the old Advertiser building, will be moving to Diamond Head in May.
Construction on the 801 South St high rise will begin this summer and finish in
2015.
For more information click here. http://801southst.com/
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News Now. All rights reserved.
