Developer to hold "housing lottery" for affordable rental units

Developer to hold "housing lottery" for affordable rental units

HAWAII KAI, OAHU (HawaiiNewsNow) - The developer of a new apartment complex in Hawaii Kai will be holding a lottery on Wednesday, September 9, for 54 "affordable" rental units.

About 200 people applied for the low-income rent, and will have approximately a 1-in-4 odds of being selected for an apartment.

Applicants may not earn more than 80% of the median area income, which is $76,650 for a family of four.

Monthly rent for an affordable 2 bedroom unit is $1,495. Market rents for the same size unit will go for about $2,500 per month.

7000 Hawaii Kai Drive will have amenities such as a pool, movie theater, fitness center, and barbeque area.

Construction is expected to be completed in June.

For more information, click HERE.

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