Kamehameha Schools has announced a proposal with developer Gerding Edlen to create a mid-rise rental building in Kakaako for those Hawaii residents who have moderate income. By state definition, moderate income would mean households earning up to $67,000 for a single person and up to $96,000 for a family of four. The plan would be to have a total of 209 units in the six-story building in size configurations ranging from studios to two-bedrooms. Rents could be as much as $1,677 per month for a studio, $1,797 per month for a one-bedroom, and $2,157 per month for a two-bedroom.
The mid-rise building is being called Keauhou Lane, and will be part of a larger project called Keauhou Place, which will also feature a 40-story condominium tower being developed by Stanford Carr. Keauhou Place will sell a total of 450 Fee Simple units for families earning up to 140 percent of the median income, or $94,000 for a single person and $134,000 for a family of four. Prices for these units will start in the high $300,000s.
Keauhou Lane will have to go through public hearings before being officially approved. Once approved, construction should begin in the beginning of 2015 and be completed by sometime in 2016.
Source: Honolulu Star Advertiser, 2-8-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
