Public hearings scheduled for $38M Honolulu affordable artist rentals
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- Duane Shimogawa
- Reporter- Pacific Business News
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The public will get its first look at a planned $38 million affordable rental complex aimed at local artists in the Honolulu neighborhood of Kakaako on Dec. 17.
The Hawaii Community Development Authority, the state agency overseeing the redevelopment of Kakaako, has scheduled a presentation hearing for the Minnesota developer's project at 1025 Waimanu St. in December and a decision-making hearing on Jan. 21.
The first hearing is scheduled for 9:30 a.m. at 461 Cooke St. in the Makai Conference Room, while the second hearing is slated to start at 9 a.m. at 545 Queen St. on the second floor.
The 84-unit, eight story Ola Ka Ilima Artspace and Lofts rental complex, which recently received $1.425 million in federal tax credits and $712,500 in state tax credits from the Hawaii Housing Finance and Development Corp., will offer one-, two-, and three-bedroom units in two eight-story buildings that will form a courtyard.
It is targeting low-income groups between 30 percent and 60 percent area media income.
The project also will include 6,481-square-feet of commercial space, about 9,264-square-feet of open and recreation space.
The property is currently owned by the Hawaii Community Development Authority.
The project, which will enter into a 65-year lease with the HCDA, is expected to start construction in March and be completed in March 2017.
The HCDA also is holding public hearings on Saturday at 10 a.m. and Tuesday at 5:30 p.m. at 461 Cooke St. in Honolulu for The Howard Hughes Corp.'s two condominium luxury projects as well as The MacNaughton Group and Kobayashi Group's Vida at 888 Ala Moana luxury high-rise project.
Duane Shimogawa covers energy, real estate and economic development for Pacific Business News.
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