COM 0560.015 2002-2004 - Laserfiche WebLink

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be priced so high the "riff raff" wouldn't be able to afford them. Mr. Teramoto also stated that there were 2 successful "Urban Villages", the original concept of the Terrace, already completed in Mokuleia, Oahu and Poipu, Kauai. Mokuleia Ranch is fenced, vacant and unproductive. Poipu consists of residential/vacation condos only. No vast commercial space or single family homes exist in either site. None of the development team even mentioned affordable housing unless prompted by questions from our Planning Director Chris Yuen in the Planning Commission meetings. Mr Yamashiro is later quoted by Kevin Dayton in the Honolulu Advertiser "that the condos would be affordable housing and would start at about $200,000 each". Monday's tv news says Oahu's median price for condos is $219,000. I ask you, what is the Terrace, you know, the project priced to keep the "riff raff" out? Is this affordable or not for Hilo? Mr Elarionoff, in the May 4 Council hearing, expressed concern, and rightly so, that the Council didn't want a repeat of what happened to the corner lot at Kanoelehua/Puainako to happen at the Terrace if approval was given. Specifically, he cited that the developer gave his assurances that the property would be fully developed with flooding and traffic issues fully addressed. The Council approved it and within weeks it was up for sale. We testified that it was the developer's intent to get approval and sell it off. Mr. Yamashiro stated that was the intent. The only difference I can see between the Kanoelehua developer and Mr. Yamashiro is that Mr Yamashiro is telling you he's going to sell it off and not complete the development. So if you don't want a repeat, deny approval. • Early on I happened to meet Mayor Harry Kim and asked if he would help the community surrounding the project