Members of the community recently joined dignitaries and developers to mark the completion and grand opening of the 110-unit Waikoloa Family Affordable project in South Kohala.
Waikoloa Family Affordable, which serves families earning 30% to 60% of Area Median Income, features 39 one-bedroom units, 40 two-bedroom flats and 31 two-bedroom townhouses, plus a manager’s unit. Rent ranges from $405 to $1,108, depending on the size of the unit and the household’s income
The units are housed in eight two-story buildings with four units each and 10 two-story buildings with eight units each. Each unit features solar hot water heating, AC, range/oven, refrigerator/freezer, garbage disposal, and storage.
Common amenities include an on-site resident manager and manager office, on-site parking, coin-operated laundry facility and access to benefits of the Waikoloa Village Association, including its community center, pool, and golf course.
Financing for the $46 million project came via the Hawaii Housing Finance and Development Corp., First Hawaiian Bank, HHF LLC, and the Coalition for Specialized Housing. Government assistance came via Low-Income Housing Tax Credits (LITHC), Rental Housing Revolving Fund (RHRF) allocation, and Hula Mae Multi-Family tax-exempt bonds (HMMF).
More information on the Office of Housing and Community Development and its programs can be found online at www.housing.hawaiicounty.gov.
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