David Y.Ige | HHFDC Press Release: Governor Ige Joins Ceremonies Marking Milestones for Two Maui Affordable Housing Projects

HHFDC Press Release: Governor Ige Joins Ceremonies Marking Milestones for Two Maui Affordable Housing Projects

Posted on Jul 19, 2022 in Latest news from the department, Newsroom

Governor David Ige participated Tuesday, July 19, 2022 in ceremonies marking the milestones of two affordable housing projects on Maui – the groundbreaking of the recently completed Kahului Lani Affordable Seniors Project in Kahului and the blessing of the land for the Kaiāulu o Kūku affordable family oriented ‘ia complex in Lahaina.
“We have developed partnerships at all levels of government and with the private and nonprofit sectors, and this holistic approach is making a real difference here on Maui and across the state,” Governor Ige said. “Residents now have more affordable housing options.
The governor joined nonprofit affordable housing developer Catholic Charities Hawaii in Kahului for a ribbon-cutting ceremony to commemorate the completion of the 165-unit Kahului Lani, an affordable housing complex for seniors. The 83 one-bedroom units in the recently completed Phase II are rented to seniors age 55 and older earning no more than 60% of the area’s median income.
According to 2022 HUD guidelines for Maui, rents in Kahului Lani II would range from $642 to $1,284 per month depending on household income. Housing must remain affordable for at least 61 years.
The state, through the Hawaii Housing Finance and Development Corporation (HHFDC), provided the project with $17.2 million in tax credits from the Low-Income Housing Tax Credit Program (LIHTC ); $14.25 million in low-interest loans from the Rental Housing Revolving Fund; and $2 million from the Housing Units Revolving Fund for road improvements.
Earlier in the morning, Governor Ige joined Mayor Victorino and officials from non-profit affordable housing developer Ikaika Ohana at the blessing and groundbreaking ceremony for the Kaiāulu o
Kūku’ia Complex in Lahaina. Part of the Leiali State Villages
In a planned community, the project will provide rental housing for up to 200 families and households earning no more than 60% of the AMI. (Three of the units are reserved for resident managers.)
Kaiāulu o Kūku’ia consists of two-, three-, and four-bedroom units, allowing families of two or more generations to live under one roof. According to HUD 2022 guidelines for Maui, two-bedroom units would rent between $770 and $1,540 per month, three-bedroom units between $890 and $1,780, and four-bedroom units between $993 and $1,986. . Housing must remain affordable for at least 65 years.
HHFDC owns the land and Ikaika Ohana secured a long-term ground lease through the RFP process. Through the HHFDC, the state also provided $97 million in tax credits from the LIHTC program, $37 million in low-interest loans from the Revolving Fund for Rental Housing, $21 million in tax-exempt tax bonds under the Hula Mae Multi-Family Tax Bond Process and up to $7.5 million in DURF. program funds.
The mission of the Hawaii Housing Finance and Development Corporation is to increase and preserve the supply of affordable housing throughout the state by providing finance and development resources for housing development.
NOTE: We will be providing a photo of the Kahului Lani event shortly which will be provided courtesy of Catholic Charities Hawaii and Becker Communications.
Contact person: Gordon Pang, [email protected] or 808-341-4069

Comments are closed.