Developer Forest City Enterprises Inc has announced that the Kapolei Lofts development will break ground this week and is expected to complete its first homes in the fourth quarter of 2015. Kapolei Lofts will feature 499 rental apartment units and will cost approximately $140 million to complete. Spokesman Dave Rae stated, "We're very excited about it, not just for bringing people to the urban area of Kapolei, but also meeting an incredible need for rental housing."
According to the developer, the Kapolei Lofts will be available at largely market-price rents, though 20 percent of the units will be affordable to lower-income households. Units will range in size from 400 sq ft one-bedrooms, all the way up to 1,200 sq ft three bedrooms and will cost between $1,250 to $3,200 per month. The complex will feature a resort style pool, a cybercafe, a bike-sharing fleet, a gym, and rooms for meetings and entertainments. Rental applications will be accepted starting next summer.
Source: Honolulu Star Advertiser, 11-2-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
