WAIKIKI, Hawaii (HawaiiNewsNow) -A blessing and groundbreaking ceremony was held Tuesday afternoon for Waikiki’s first new “for rent” apartment development in decades.
Developers from Brookfield Properties gathered at the future site of Lilia Waikiki, a 28-story tower that will be located at 2370 Kuhio Avenue.
They say the high-rise will have 402 rental units. For 30 years, 91 of those units will be considered affordable for households earning less than 80 percent of the area median income. The remaining 364 units will be available for rent at market-rate.
The development will include retail space, which will be anchored by a two-story grocery called, Waikiki Market, operated by the Food Pantry, Ltd.
“Lilia Waikiki will put local residents at the center of the revitalized Kuhio Avenue district," said Kris Hui, vice president of mixed-use development for Brookfield Properties.
In addition, 53 units were renovated in an existing low-rise building near Kanekapolei Street.
Developers hope their project will help meet the high demand for rentals in Waikiki.
Lilia Waikiki is set to be complete in 2021.