Oahu gets new affordable housing developments - Hawaii News Now - KGMB and KHNL

Oahu gets new affordable housing developments

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Halekauwila Place in Kakaako Halekauwila Place in Kakaako
The Pagoda Terrace apartments The Pagoda Terrace apartments
HONOLULU (HawaiiNewsNow) -

Two new affordable housing developments were shown off to the media Tuesday, ahead of their openings for residents.

Halekauwila Place is a new construction located in Kakaako.  It features 204 units, which are all rentals.

"We have 26 studios, 72 one bedrooms, 83 two-bedroom units and 23 three-bedroom units" said developer Stanford Carr. 

Prices will range from $954 a month for the studios to just under $1400 a month for the three bedroom units.

The units will be available on April 8 for qualified renters who are making no more than 60 percent of the area median income.

"They're going to want to live here.  They're going to want to take care of it and preserve it, and so it's been a very gratifying project for us".

In the Kapiolani Business District, the Pagoda Terrace apartments are getting a facelift.  The 162 units are going to be sold fee simple.  Prices for the studios, one bedrooms, and two bedrooms are all under $275,000.

"It's probably one of the best buys in terms of an affordable condominium conversion," said developer Peter Savio.

The sales program will begin at the end of the month for income qualified buyers.

"We're actually going to give the people in the 30th percentile first choice, then the 40 percent, 50 percent, 60 percent and work our way up".

 

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