Kokua Senior Living affordable project breaks groundPosted on Sep 27, 2021 in Capitol Connection, Featured, Main
Work has begun on the new 224-unit Kokua Senior Living affordable rental tower on Alakea and S. Beretania streets in downtown Honolulu. The units will be marketed to seniors 55 years and older who have annual household incomes between 30 to 60% of the area median income, with rents beginning at $634 a month.
“Even with all the focus on the pandemic, we’re still making progress on affordable housing,” said Governor Ige. “We actually met our goal of 10,000 additional housing units by 2020. Now our new goal is adding 3,000 more new homes by the end of 2022. I’m excited about this project because it’s senior housing with a very convenient location. Being rentals, it ensures these will be for local residents, not out-of-state investors.”
The state’s Hawaii Housing Finance and Development Corp. partnered with developers Highridge Costa and Coastal Rim Properties on the project. The project is slated for completion in August 2023 and will seek lottery applications a few months before the tower is completed.