The Coalition for Specialized Housing and GSF LLC held a dedication ceremony on Oct. 25 for Waikoloa Family Affordable, the newest affordable housing development under construction on Hawai‘i island. The 110-unit, $46 million project at 68-3911 Makana Kai Dr. includes 39 one-bedroom apartments, 40 two-bedroom flats and 31 two-bedroom townhouses within 18 two-story structures, according to a news release.
“This development will provide much-needed affordable housing to Hawai‘i island families,” Coalition for Specialized Housing President Jeffrey Emerson said during the ceremony, which was attended by Gov. Josh Green’s Chief of Staff Brooke Wilson, Hawai‘i County Deputy Managing Director Bobby Command and other Big Island lawmakers and community leaders.
Managed by Locations LLC, Waikoloa Family Affordable is already welcoming families earning 60 percent or less of the area’s median income into units.
Financing for the project was provided by the Hawaii Housing Finance and Development Corporation, First Hawaiian Bank, HHF LLC and the Coalition for Specialized Housing, with additional government assistance via Low-Income Housing Tax Credits, a Rental Housing Revolving Fund allocation and the issuance of Hula Mae Multi-Family tax-exempt bonds.
Alan Shintani Inc. served as general contractor.