KAKAAKO (HawaiiNewsNow) - A New York company is planning to build 104 studios in Kakaako that are only 309 square feet each.
The HCDA gave preliminary approval on Tuesday for the affordable housing project in a small parking lot at 630 Cooke Street.
Proposed rents will range from $379 to $870 a month.
"The high land cost, the limited availability of affordable housing, the high construction cost. So those, actually, we have a lot in common when you think about New York," said Samantha Magistro, Managing Director of Bronx Pro Group.
Tenants must meet low income requirements.
The project is set to break ground next year and opening is set for 2019.
For details on the plan, click here.