New Low-Income Affordable Rental Development in Kona Opens

 A new affordable rental housing complex has opened in Kailua-Kona.

Affordable housing developer Vitus Group Inc. hosted a blessing ceremony Tuesday for the $60 million project.

The complex has 90 studios and over 200 one-and-two-bedroom units. Monthly rates range from $331 to $863.

Gov. Linda Lingle toured the housing development after the blessing.

State and federal affordable housing tax credits helped fund the project. Vitus Group also obtained financing through Citibank, $33.5 million in tax-exempt bonds and an $11.75 million Rental Housing Trust Fund loan.

Maui News