HomeMy WebLinkAboutCOM 0700.006 2006-2008 Lokahi Ka'u Affordable Apartments
October 16, 2007
PROJECT DESCRIPTION
• The Lokahi Ka'u Affordable Apartments consists of 306 units
100% Occupancy at 60% median income
Unit Configuration
Studio 90 Units - 384 sq ft - $633 per month
1 Bedroom 108 Units - 640 sq ft -$667 per month
2 Bedroom 108 Units - 789 sq ft - $789 per month
• Long Term Commitment to Affordability: 55 Yeazs
• Energy Efficient practices:
• Solar Water Heating
• Low flow plumbing fixtures
• Energy efficient light fixture/Compact Fluorescent Light bulbs
• Drought tolerant landscaping
• Photovoltaic Solar Panels in common azeas
• Parks/Recreation: 4 acre park 1/4`h mile away in adjacent Lokahi Makai
development
DEVELOPMENT TIMETABLE
• November 8, 2007
• HHFDC Tax Exempt Bond/LIHTC Initial Approval
• February 1, 2008 -Construction Begins
• September, 2008: 84 Units Completed
• December, 2008: 48 Additional Units Completed
• May, 2009: 72 Additional Units Completed
• September, 2009: 102 Units Completed
OPERATIONAL PROGRAM
• No overcrowding, occupancy guidelines as dictated by HUD
• Studio -2 person
• 1 Bedrooms -Max 3 persons
• 2 Bedrooms -Max 5 persons
• Will accept applicants from existing County wait list subject to independent
qualifications of LIHTC program
Ceram: No. 708 • !o
Ref. Ta rreseefe
RRf. Date 6