Kulana Hale: Affordable rentals for families, seniorsPosted on Sep 12, 2019 in Capitol Connection, Featured
The future of affordable housing — and Governor Ige’s goal of 10,000 new units by 2020 — just got brighter in Kapolei with a groundbreaking recently for a second phase of Kulana Hale, a $130 million senior and multifamily apartment community. The first tower, reserved for seniors 55 and older, is set for completion in April. The second tower for families is projected to be done in early 2021.
Both complexes are intended for residents earning 60 percent or less of area median income (AMI). That equates to $50,640 for a single person, $57,840 for a couple and $72,300 for a family of four. A few units also are available for those earning half as much. The project was praised by officials because it puts affordable rentals within walking distance of businesses and the bus line for access to Kapolei Rail Station.
The project is a public-private partnership with Highridge Costa, based in California, Coastal Rim Properties and the Hawai‘i Housing Finance and Development Corp. the state agency that helps produce affordable housing. “Kulana Hale is a great example of using state funding to attract private investment to benefit local residents,” said the governor. “My administration is committed to helping seniors and families find housing they can afford.” For his part, Highridge Costa president Michael Costa had nothing but praise for the Hawai‘i partnership, calling it one of the best he’s seen in his experience of building housing in 33 states.