Developer sets timeframe for Honolulu affordable rental housing project

-

The development team of a planned 111 micro-unit affordable rental housing project in the growing Honolulu neighborhood of Kakaako hopes to close on financing of the $33 million development by next spring with construction starting soon after that, according to public documents.
In an update to the Ala Moana-Kakaako Neighborhood Board last month, an official with EAH Housing, which is part of the development team along with New York's Bronx Pro Group LLC, revealed details regarding the Nohana Hale project that's located at 630 Cooke St. It will include 14 floors of residential units with eight units per floor. The project is expected to be financed with tax credits, bonds and state subsidy funding, according to minutes from the board's meeting. The project is scheduled to take about 18 months to build.
Maximum monthly rents would be set at about $1,053 for part of the project. Another part of the project would involve monthly rents at no more than $503.
The transit-oriented development project will only have five parking stalls that will be mainly used by staff members. Nohana Hale also includes two podium levels with community areas.
In 2015, the Hawaii Community Development Authority, the state agency regulating development in Kakaako, chose Bronx Pro's development team of EAH Housing, Sustainable Living Solutions LLC, Construction Management & Development Hawaii LLC and Swinerton Builders to develop the project.

Comments

Post a Comment

Popular posts from this blog

Architecture firm starts process to build new office at Bank of Hawaii building

-
Image
G70, one of the largest architecture firms in Hawaii, has officially started the process of building out its new office spaces in Downtown Honolulu, according to public documents filed Tuesday. The Honolulu-based firm has filed two building permits totaling about $1.2 million for the build-out of its new digs at the Bank of Hawaii building at the Financial Plaza of the Pacific. G70, formerly Group 70 International, is expected to move from its current space at the McCandless Building on Bethel Street where it has been for decades towards the end of this year. The architecture firm's move follows the migration of another one of Hawaii's largest firms — AHL, formerly Architects Hawaii Ltd., which moved to the Pacific Guardian Center in Downtown Honolulu, including the penthouse space at the complex's Makai Tower.
Read more

Exclusive: 'Survivor' host Jeff Probst buys posh Hualalai Resort estate in Hawaii

-
Image
Jeff Probst, the Emmy Award-winning host of the reality television series “Survivor,” has purchased an estate within the Hualalai Resort on the Big Island of Hawaii’s west coast for $4.85 million, Shimogawa Scoops has learned. Probst and his wife, Lisa Russell, closed on their big purchase on November 1, which includes 19,864 square feet of land and a four-bedroom, 5.5-bathroom home with an office within Kulanakauhale, the newest residential community in the Hualalai master-planned resort community. The 3,770-square-foot home was built by Aina Ola and furnished by award-winning designer, Gina Willman. It has gourmet kitchens with granite counter tops, custom African mahogany cabinetry, travertine flooring and Madeira concrete shake roofs. Hualalai Realty represented both sides of the transaction. Member amenities for this property include the Keolu Clubhouse and Hualalai Canoe Club, according to Hualalai Realty. The luxury resort community includes the Four Seasons-bra
Read more

Marcus Mariota buys gorgeous Hawaii home

-
Image
Marcus Mariota, the Hawaii-born Tennessee Titans quarterback, paid nearly double the assessed value of his new Hawaii home. In May, the St. Louis School star purchased a more than 3,000-square-foot home near Kailua Beach in Windward Oahu with four bedrooms and four bathrooms for $2.45 million. The total assessed value for the property is $1.7 million. The purchase came out to $767 per square foot. The home, which was built in 2017 and purchased by Mariota in May, was only on the market for 90 days. It has a total floor area of 4,194 square feet and sits on a 10,000-square-foot lot. Amenities of the home include a pool, maid and guest quarters and a workshop. Mariota, one of the most popular athletes in Hawaii, was a star quarterback for the University of Oregon Ducks football team. Numerous local companies have latched onto his star power by having him become their spokesman, including First Hawaiian Bank and Island Insurance.
Read more