HONOLULU (HawaiiNewsNow) - A 484-unit condominium in the heart of Honolulu will welcome new homeowners to move in on Monday.
The Kapiolani Residence is 45-stories tall and features studios, one-, two- and three-bedroom units.
A total of 292 unites, or 60 percent of the units, are considered fee simple affordable and were reserved for Hawaii residents who qualify.
The price for the affordable units starts at $272,000.
The completed project is thanks to a public-private partnership between the state’s Hawaii Housing Finance and Development Corporation and developer SamKoo Pacific.
“We just wanted to work with the community to contribute and focus on the people, the need of people in Hawaii,” said Timothy Yi, president of SamKoo Pacific, LLC. “We can proudly say that we changed the paradigm of the affordable housing in Hawaii.”
The building, located at 1631 Kapiolani Boulevard, is adjacent to the Ala Moana Shopping Center and is not far from the Hawaii Convention Center.
Kapiolani Residence also features commercial space on the ground floor, assigned parking stalls in its garage, bicycle storage, electric vehicle charging stations and a recreational deck, which is complete with a indoor party room, cabanas and barbecue grills.