Developer plans affordable housing units in west Maui
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WAILUKU, Hawaii (AP) - The developer of a proposed 304-acre housing community says the first phase of the project will include the first apartment complex in west Maui in more than two decades.
The Maui News reports that USA Infrastructure Investments LP CEO Paul Cheng says he hopes to begin work on the housing project by the end of 2017 or sooner.
The proposed project is estimated to cost $300 million to $500 million and will include 882 multifamily and single-family homes with at least half designated as affordable. The first phase of construction will begin with 250 long-term rental units.
Cheng says the first phase is expected to cost about $75 million and take 18 months to completely build, but units could be available for rent within 14 month.
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