Forest City Hawaii’s Proposed West Oahu Rental Housing Project Clears Environmental Hurdle
Plans are moving forward for Forest City Hawaii’s 499-unit residential rental complex on West Oahu. According to the Pacific Business News, the Hawaii Housing Finance and Development Corp. (HHFDC) has determined that a supplemental environmental impact statement (EIS) would not be required for the proposed $140 million mixed-use apartment development known as Kapolei Lofts.
The city and county of Honolulu accepted a previous EIS for the project in 1988 and does not have any objections to the determination, according to a letter sent by Craig Hirai, executive director of the HHFDC, to the state Office of Environmental Quality Control.
Slated to rise near the Foodland-anchored Kapolei Village Center, the new complex will offer various types of one-, two- and three-bedroom apartments, ranging in size from 400 to 1,200 square feet. Plans also call for commercial space, a community center/clubhouse, a 1.34-acre linear park and parking.
Out of the total number of units, 100 residences will be reserved for households earning up to 80 percent of the area median income (AMI), while another 200 will target renters earning up to 140 percent of the AMI. The remaining 199 units will be rented at market rates.
Forest City Hawaii expects to begin construction in the following months and complete the project in about two years.
In other news, the Pacific Business News reports that Hadley Properties of Seattle is planning the construction of a 247-key, 15-story Courtyard by Marriott hotel near the Honolulu International Airport.
The company has completed design and entitlements for the project, which is still in an early conceptual phase. Two other facilities are located in the area, namely the Best Western The Plaza hotel and Outrigger Hotels & Resorts’ Airport Honolulu Hotel.
Hadley Properties is also behind the development of the Airport Industrial Park and the Amfac Towers in downtown Honolulu, now known as the Topa Financial Center.
Photo credit: Travis Thurston via Wikimedia CommonsTags: affordable housing, Commercial, Consumer, Conventional - Market Rate, Developers, Development, Finance/Investment, Forest City Hawaii, Green, Hadley Properties, Honolulu hospitality, Honolulu Lead Story, Hospitality, Investors, Kapolei apartment, Kapolei Lofts, leasing, Local, Managers, multi-family, National, Owners, Policy, Professional, property management, Regional, Residential