The County of Hawaii is seeking partners for a government-private partnership that will provide the state with a 160 unit affordable, rental senior housing project that will be known as Mohouli Heights Senior Neighborhood project. The state is allowing a developer to obtain a 75 year land lease through the Hawaii Island Community Development Corporation (HICDC) that would provide one and two bedroom units. The HICDC intends to utilize a combination of subsidies to ensure that financial feasibility of the proposed project including nominal land costs, HUD grants, rental subsidies and Low Income Housing Tax Credit equity funds. The proposed project will help address a portion of the demand for low income, elderly rental units on the island of Hawaii. A previous study of the island showed that almost 4,000 seniors that have a household income of under $25,000 per year will be ale to access this project as the project will help meet an existing need for affordable housing on the island.
For more information on the proposed project, click here.