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Friday, December 12, 2014

HCDA Seeking Developer Bids for Micro-Units in Kakaako

The Hawaii Community Development Authority is requesting for developers to submit bids to build affordable micro-unit apartment rentals at lot that it owns at 630 Cooke Street. The concept is to build apartment units with about 300 sq ft of living space that is suitable for no more than two people. HCDA hopes that units in this building would have a monthly rent that is affordable for residents earning no more than the median income in Honolulu, which is about $57,800 for a single person or $66,100 for two people.

According to a report issued by the Hawaii Appleseed Center for Law and Economic Justice, almost one out of every four households is composed of just one occupant. Therefore, micro-units would be a wonderful way to build much needed affordable housing.

Source: Honolulu Star Advertiser, 12-12-2014,
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC