The affordable housing project being built by Genova Construction Development is looking to be approved for “fast-track” process by the county.
The project would build 568 single family units and 184 multifamily units. Additionally included in the project is 17,400 sq. feet of retail space and 6.3 acres of parks.
Phase one is hoped to be completed by 2024. To read the article via Maui News here.
Haliimaile and Kihei will be the site locations for affordable housing projects developed by Aina Lani Pacific LLC. Maui residents wanting to apply for the affordable housing project have until March 31st. to do so.
The Hoku’ula in Haliimaile will have single family homes ranging from 2,208 to 2,512 square feet. Kilohana Makai will build 28 homes ranging from 1,425 to 1,817 square feet.
Aina Lani Pacific President Howard Kihune Jr. started the company in 2014. As a native of Hawaii, affordable housing is a project that is very important to him.
For more information on the project, please feel free to email us at dad@mauirealestate.net.
The project, named the Hale Piling Family Affordable Rental Housing Project, would have the first phase completed in approximately 16 to 18 months. The units will be intended for those earning 60% or less of the average median income.
Estimated cost of the project is $66 million. According to 2020 guidelines, maximum rent for a one-bedroom unit to be around $1,153 and $1,384 for a two-bedroom.
As reported by the Maui News, two housing projects were approved in South Maui by the county. The two projects include Liloa Hale Senior Rental Housing and Hale Kaiola.
A three story building will house 117 apartments at Liloa Hale. Hale Kaiola will be 40 duplex units. The council voted its approval of the project 9-0.
Construction should begin within two years and be complete within five years.
Over 250 residents of Front Street Apartments in Lahaina received good news. Governor David Ige signed a bill to keep rents from increasing to market prices. Hawaii Finance and Development Corporation will begin negotiations with the Front Street Apartments owners in the hopes of acquiring the property.
Owners of the affordable housing apartments originally wanted to raise the rent rates to market value by August 2019. Hawaii Finance and Development Corporation (HHFDC) have put a hold until August 2020 for now while court proceedings filed by tenants are completed or until HHFDC can purchase the property.
HHFDC is undergoing the due diligence process for appraisal and funding of the apartments. Although the saga isn’t fully over, there is hope for the tenants that a solution is around the corner and that they will be able to maintain their residences.
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