Affordable Housing Ready For Renters In Mililani Mauka
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Castle & Cooke welcomed residents Sept. 21 to the dedication and blessing ceremony of The Courtyards at Mililani Mauka, an affordable rental community that has an innovative partnership with the state, Hawaii Housing Finance and Development Corp. and Pacific Housing Assistance Corp.
The apartments are geared toward families whose income is at or below 60 percent of Oahu’s median income (equating to $44,700 and below for a family of four). Projected monthly rental rates for the units will range from $737 to $1,008, based on a 2007 HUD Area Median Income estimate.
“There is a great demand for affordable rentals,” said Peter Daniels, spokesperson for The Courtyards. Another public-private partnership trying to provide Hawaii residents with affordable, quality living is 220 California, a 42-unit rental housing project for seniors in Wahiawa that just opened its doors in August.
After a brief program,tenants and special guests including Gov. Lingle, HHFDC executive director Dan Davidson, PHAC executive director Marvin Awaya and Castle & Cooke Hawaii president Harry Saunders, were given tours of the rental homes.
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All 48 units were completed at the end of August and were move-in-ready as of Oct. 1. To ensure housing at The Courtyards will remain at affordable rates for the next 30 years, the state - through the HHFDC - will contribute $10.1 million in federal and state low-income housing tax credits over a 10-year span.
An application process for the rentals was held earlier this year when prospective renters needed to meet certain eligibility requirements. They later participated in eligibility interviews. All the units are currently spoken for, Daniels said.
Located at 95-1015 Koolani Drive, near the intersection of Koolani Drive and Ukuwai Street, The Courtyards is made up of multi-family stack-flat townhomes, consisting of 12 one-, 24 two- and 12 three-bedroom units. In addition, the community has a central laundry room, a project office available to residents, and is near schools, parks, recreation and shopping centers, and other public services including transportation.
Castle & Cooke is the developer of Mililani, an award-winning master-planned community. Castle & Cooke provided the land, equity financing and construction of this community. PHAC, a private, nonprofit housing corporation,will handle the rental management and operations of The Courtyards.
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