The Hawaii Housing Finance and Development Corp. announced that it has approved federal and state low-income housing tax credits (LIHTCs) for two affordable housing developments on the island of Oahu.
Ola Ka ’Ilima Artspace Lofts, an affordable live/work development in the Kakaako neighborhood of Honolulu, received an allocation of $1.4 million and $712,500 in federal and state LIHTCs, respectively.
This is the first project in Hawaii for Minneapolis-based Artspace, which is partnering with Honolulu-based HKI and PA’I Foundation.
The development, which will be built on land owned by the Hawaii Community Development Authority, will feature 84 units of affordable housing for artists and their families who earn between 30 percent and 60 percent of the area median income as well as the PA’I Arts & Culture Center.
“After nearly six years of community engagement activities and meetings with stakeholders, legislators, council members, artists, neighborhood associations, and others, we are at the threshold of making this dream of affordable rental housing and creative spaces for artists as well as a home for PA’I Arts & Culture Center come true,” says Vicky Holt Takamine, executive director of PA’I.
Meheula Vista I, which will provide 75 affordable housing units for seniors in Mililani Mauka, received an allocation of $1.2 million and $597,845 in federal and state LIHTCs, respectively. The development, which is to be built on state land by Honolulu-based Catholic Charities Housing Development Corp., is the first phase of a master-planned seniors community; future plans call for another 225 units of housing and a stand-alone multipurpose center.
“With Hawaii’s population continuing to live longer, we owe it to our older residents to ensure there are opportunities for them to age in place, remain active, and enjoy quality lives as engaged members of their communities to benefit us all,” says Hawaii Gov. Neil Abercrombie.