Affordable housing pilot project helps nearly 70 families own homes
HONOLULU (HawaiiNewsNow) - The Department of Hawaiian Home Lands' affordable housing pilot project converted 69 families from renters to homeowners on Saturday.
As part of the Kapolei Hoolimalima pilot project, these families converted their leases in the homestead community of Maluohai.
State officials including Gov. David Ige joined the families in celebration of their new homes.
The DHHL partnered with Mark Development, Inc. created the program to use federal low income housing tax credits.
The department's officials say the tax credits earned during the 15-year project totaled more than $6.7 million in equity, which was then passed along to the renters who chose to buy.
The homes' prices ranged from roughly $63,000 to nearly $77,000.
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