A new affordable rental housing complex has opened in Waikoloa Village for qualifying families and kupuna.
A dedication ceremony was held Wednesday morning for the Waikoloa Family Affordable complex, which was developed by the nonprofit Coalition for Specialized Housing.
After acquiring the land in 2017, the coalition partnered with Hawaii County and the state to build the much-needed 110-unit complex in West Hawaii. It is the nonprofit’s first development on the Big Island.
“With Hawaii’s cost of living continuing to rise, there is a tremendous and urgent need for affordable housing,” said Jeffrey Emerson, president of the Coalition for Specialized Housing. “Needless to say, it takes a lot of people and a real commitment from state and county governments, as well as craftsmen and other contributors to make this happen. Pulling it together is an art, and it’s amazing to see what we’ve all built.”
The development features 39 one-bedroom units, 40 two-bedroom flats and 31 two-bedroom townhouses, in addition to a manager’s unit. The units are housed in eight two-story buildings with four units each and 10 two-story buildings with eight units each.
Rental prices range from $405 a month to $1,108 a month, depending on unit type and income qualifications.
Each unit features a solar hot water system, air-conditioning, range and oven, refrigerator and freezer, garbage disposal, storage and a parking stall.
Financing for the $46 million project came through the Hawaii Housing Finance and Development Corp., First Hawaiian Bank, HHF LLC and the Coalition for Specialized Housing.
Government assistance came through low-income housing tax credits, a state Rental Housing Revolving Fund allocation, and Hula Mae Multi-Family tax-exempt bonds.
Gov. Josh Green’s chief of staff, Brooke Wilson, attended the dedication and reiterated the governor’s number one priority of building more affordable housing across the state.
“Construction and development are not easy, and seeds for this project started seven years ago. We took office nine months ago and want to continue our goal of pushing affordable housing and seeing more projects come through the pipeline,” Wilson said. “In the last two months, we have opened 585 affordable housing units, and today’s 110 marks 695 total. We have moved forward in a real way.”
Green has a goal of opening 10,000 affordable housing units across the state in his first four years in office.
In September, the governor signed an emergency proclamation, which aims to speed up the development process and empower stakeholders to contribute to the creation of affordable housing.
County Deputy Managing Director Bobby Command commented on how important it is to this administration to continue to build affordable housing across the island to help local families stay in Hawaii.
“It is so hard for developers to get from concept to reality, and I’m so impressed with what everyone was able to do here,” Command said. “We’re going to need a lot more if we are going to meet the needs on this island. Whatever the county can do to get us there, we want to get there.”
Command said the county needs 10,000 affordable housing units by 2025.
After searching for affordable housing for more than six months, Jovina Lagaret and Dean Halemanu were happy to qualify and move into the new Waikoloa complex and out of Lagaret’s mother’s house this month.
“We entered the final process in June or July, and it felt like it took a long time, but we’re stoked to be here,” Lagaret said. “It’s so hard to find an affordable place to live, and we’re so grateful we could qualify for the kids.”
The Waikoloa Family Affordable complex serves qualifying families with annual incomes of 60% or less of the area median income. About 30% of the rental housing development has been filled, and applications are still being accepted.
More information about qualifying criteria and the development, as well as applications for housing, can be found at locationrentals.com/affordable-rentals.
Email Kelsey Walling at kwalling@hawaiitribune-herald.com.