Ho’okahua Development LLC, a partnership comprised of HCDB and 3 Leaf Holdings, Inc., experienced community development and affordable housing professionals, will employ “smart growth” land use principles to develop the $31.4 million Hale Makana O Moiliili affordable rental housing project in the bustling urban community of Moiliili, Oahu.
This project will involve the demolition of an outdated (circa 1928) low-density apartment complex and small single family home with a total of 27 rental units and transformation of the site into a modern 105 unit mid-rise rental housing project with covered parking stalls and an onsite Community Resource Center. The project will provide 80 studio units and 25 one-bedroom units at rental rates affordable to households earning 30%-60% AMI, rents from $553 to $1,243, in a location that offers convenient access to a wide range of services, employment opportunities and educational resources.
In addition to providing affordable rental housing for kupuna age 55 years old and above, an important objective of this project is to provide safe, suitable rental housing for our low-income elderly living independently and struggling financially to make their way through life.
Funding from Hawaii Housing Finance and Development Corp. is anticipated in late 2019, with construction starting in 2020 and completion by 2021.