Developer sets timeframe for Honolulu affordable rental housing project

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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.

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