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HHFDC press release: Inauguration of the affordable seniors project of Moiliili HONOLULU

Posted on October 6, 2021 in Latest News, Press Room

HONOLULU – Governor David Ige and the Executive Director of Hawaii Housing Finance and Development Corp. Denise Iseri-Matsubara joined the development team of Ho’okahua Development LLC at a groundbreaking ceremony yesterday for the 105-unit Hale Makana O Moi’ili’ili affordable senior rental housing project.

The average height will provide 80 studios and 25 one-bedroom units for kupuna 55 and over who earn 30-60% of the region’s median income. Monthly rents will range from $ 553 to $ 1,243.

The structure will replace a low density apartment complex. The project is located on Algaroba Street in front of the McCully-Moiliili Library. Nearby are Old Stadium Park, restaurants, shops, medical offices and other businesses.

“The HHFDC is pleased to help fund this affordable housing project with $ 1.7 million in social housing tax credits and $ 13.6 million in revolving funds for rental housing,” Iseri said. -Matsubara.

Partnerships between the private sector, city and state are key to meeting the need for more affordable housing, said Ige.
“We have worked closely with housing advocates and developers to bring affordable and quality rental housing to this old-fashioned community for the most underserved and vulnerable kupuna,” said the governor. “I am grateful to Ho’okahua Development and other partners for bringing Hale Makana o Mo’ili’ili to this neighborhood.

Hoʻokahua is a collaboration between the Hawaiian Community Development Board and 3 Leaf Holdings Inc. The project is expected to be completed in February 2023.

Contact Person: Gordon Pang, [email protected] or 808-341-4069

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