Ho’okahua Development, LLC, welcomed Gov. David Ige (D) and Hawaii Housing Finance and Development Corporation Executive Director Denise Iseri-Matsubara to the development team at a groundbreaking for the 105-unit Hale Makana O Moi’ili’ili affordable senior rental housing project, according to a news release from the governor’s office.
Ige shared photos of the groundbreaking and development plans on his Facebook page Oct. 6.
“More affordable housing is going up for our kupuna,” Ige wrote in his Facebook post. “A groundbreaking ceremony was held yesterday for Hale Makana O Moi’ili’ili, a mid-rise that’ll feature 80 studios and 25 one-bedroom units for those 55+, who earn 30 to 60% of the area’s median income. Rent will start at $553 a month. The project is slated to be completed by February 2023.”
Ho’okahua is a collaboration between the Hawaiian Community Development Board and 3 Leaf Holdings, Inc. Ige said these partnerships between city, state and the private sector are crucial in addressing the need for more affordable housing, stating that they worked to bring affordable rental units to those who have been underserved.
The new structure, located on Algaroba Street in Honolulu, will replace a low-density apartment complex. Old Stadium Park, restaurants, stores, medical offices and other businesses are in the neighborhood, according to the governor’s news release.
