Senior housing project dedicated, 2nd one begins
A 60-unit senior rental housing project was dedicated and a second project with 20 more affordable rentals for kupuna broke ground yesterday.
The Senior Residence at Kapolei is a partnership involving the state's Hawai'i Housing Finance and Development Corp., the U.S. Department of Housing and Urban Development, the city Department of Community Services and the Pacific Housing Assistance Corp.
The HHFDC provided $1 million from the Rental Housing Trust Fund, in addition to a $1 per year land lease. In return, the Senior Residence at Kapolei will remain affordable for 75 years.
The project is also financed with a $1.75 million loan from the city HOME Program and $10.7 million in advance funds from HUD's Section 202 Supportive Housing for the Elderly Program.
The rental units are targeted at seniors whose incomes are at or below 30 percent to 50 percent of O'ahu's median income. Tenants will pay 30 percent of their income toward rent.
Ground was also broken on the Senior Residence at Kapolei 2 on an adjacent lot.
