Kamehameha Schools aims to develop more affordable housing in Kakaako
HONOLULU, Hawaii (HawaiiNewsNow) - Kamehameha Schools provided more details Wednesday on its plans to develop hundreds of affordable housing and market-priced apartments in Kakaako.
In a meeting before the Hawaii Community Development Authority, the $12 billion charitable trust outlined its plans to build affordable and workforce housing on the two blocks along Auahi Street between Coral and Koula streets.
The projects will also include market-priced homes on Ala Moana Boulevard and commercial space on the street level.
“Cooke and Auahi streets are the main roadways in increment two. Auahi Street we see as the main retail corridor,” said Serge Krivatsy, director of planning and development at Kamehameha Schools.
HCDA chair John Whalen said he appreciated the emphasis on affordable housing, as opposed to the other big landowner in Kakaako ― Howard Hughes Corp. ― which has focused on the higher end development.
“I wish the other major landowner here had a similar commitment,” he said.
But some area business worry that they will be priced out by higher commercial rents.
“When you raise the price and then it becomes very difficult to compete,” said Raul “Boca” Torres, founder of Boca Hawaii.
“It’s sad to know that in near future they’ll be no stores like mine in Kakaako.”
Kamehameha Schools said it’s too early to talk about what kind of tenant mix it will seek.
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