There are currently seven bills before the state of Hawaii Congress to restructure or limit the Hawaii Community Development Authority, which has is responsible for overseeing the redevelopment of Kakaako. Some current residents are concerned by the rapid growth being proposed by developers and feel that the HDCA has not addressed the need for better infrastructure, health care facilities and schools to accommodate this growth. Others argued that the expensive luxury condominiums that are being built are designed for wealthy mainland and foreign investors, and are out of reach for Hawaii residents. Anthony Ching, the Executive Director for the HDCA, responded by stating, "The only way for us to produce more housing is to influence the private developer to produce additional housing that is 'affordable' according to the rules that we have established. That housing is done without any state subsidy. We're trying to do the best that we can."
Source: Honolulu Star Advertiser, 2-9-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
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