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Friday, October 19, 2012

Honolulu Mayor Agrees to Leasing Affordable Housing Complexes


Honolulu Mayor Peter Carlisle has signed off on having the city lease it’s 12 affordable housing complexes to Honolulu Affordable Housing Partners LLC for $142 million.  Under the agreement, the HAHP will obtain a 65-year lease from the city and would have to keep rental prices within federal affordable housing guidelines.  They would also have to spend approximately $42 million in the renovation of the 12 complexes.
Source: Honolulu Star Advertiser, 10-19-2012, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
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