Affordable housing project breaks ground in Makiki
HONOLULU (HawaiiNewsNow) - Construction on a new affordable housing project in Makiki is underway.
A six-story, 90-unit building will be built at the corner of Pensacola Street and Wilder Avenue.
Developers say there will be 80 one-bedroom units and 10 two-bedroom units.
“We’re building it for residents that earn 80% of the area’s median income and lower, so we’re super excited,” said Paul Lam of developer Lam Capital.
A groundbreaking ceremony was held Saturday with lawmakers, including Gov. Josh Green and Honolulu Mayor Rick Blangiardi, and community leaders.
The project was developed under the city’s Bill 7 program, which provides property tax incentives to developers and allows them to build higher and wider with no parking requirements.
Construction is set to begin in about a week, and officials say the project is expected to be finished in 14 months.
This is the fourth Bill 7 development spearheaded by developer Lam Capitol in two and a half years.
Previous projects include buildings on Ernest Street, Kinau Street, and Algaroba Street. The Algaroba Street project will be completed by April.
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