KIHEI, MAUI (HawaiiNewsNow) - Armstrong Development announced, on Thursday, that they have launched a project to build a new condominium complex on Maui.
The launch of the project comes after the 2015 amendment to the Maui County Affordable Housing ordinance that makes it more feasible for affordable projects to be built
The development company says the complex, called Kalama Kai will comprised of two three-story buildings be just 200 feet from the beach. It will also be 100 percent affordable with 39 three-bedroom units and a single one-bedroom unit.
All of the units offered in the complex will give Maui residents priority in buying or renting. Half the the units will be offered on a "senior preference" basis to buyers who are over 55-years-old for the first 30 days once the units are released for sale.
Eight units will be designated for buyers with "above moderate income," 12 units will be designated for buyers with "below-moderate income" and 20 units will be designated for buyers with "moderate income."
For more information regarding pricing, selection process and income categories, click here.
The three-bedroom, two bathroom units start within the $300,000s with 800 square feet of space. The one-bedroom unit will be below $300,000 with 560 square feet of space. Some of the units will have ocean views.
Workshops for potential homebuyers will be hold on January 12 and January 19 at the Walter Cameron Center in Wailuku from 5:30 p.m. to 7 p.m. The workshops will go over the benefits of homeownership and how to qualify and apply for the project. Call (808) 872-2462 to RSVP.
For a price below median price of condos in Hawaii, residents won't have to sacrifice amenities. Armstrong Development says Kalama Kai will boast an efficient, durable and eco-friendly design. It will also come with a recreation area, swimming pool, sundeck, barbecue area and poolside covered trellis pavilion. To offset common area energy costs, the project will use solar panels.
The project is expected to be finished by mid-2017