First affordable housing walk-up under ‘Bill 7′ now in the works in Liliha
HONOLULU, Hawaii (HawaiiNewsNow) - An old home in Liliha is being transformed into a 25-unit walkup rental complex.
It’s the city’s first reconstruction project under Bill 7, which provides property tax incentives to developers to encourage more affordable rentals.
Building permit and wastewater collection fees are also waived, and buildings can also build higher and wider with no parking requirements.
Project developers say the Liliha location was the perfect spot to start.
“It had just become the neighborhood eyesore and dumping ground and liability. Because of Bill 7, we were able to come in, purchase the property. We were able to demolish the structure and we got a building permit expedited through Bill 7,” Developer Derek Lock said.
The project on Pu’uhue Place will have units going for about $1,100 a month, which is less than 80% of the Area Median Income.
The city says its a win-win situation for developers and the community.
“Not only do they provide a reasonable return on their land, but the community gets rental housing,” Dept. of Planning and Permitting Director Kathy Sokugawa said.
Construction is expected to wrap up next Summer.
“I believe it’s going to be the first of many much, much needed affordable units that are going to be built under Bill 7 in the form of walk ups,” Lock added.
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