Affordable condos at 801 South St. in Honolulu are selling fast, developer says

The 801 South Street project on the site of the former Honolulu Advertiser Building is currently under construction.

The 801 South Street project on the site of the former Honolulu Advertiser Building is currently under construction.

Affordable condos at 801 South St. in Honolulu are selling fast, developer says

Bill Cresenzo Reporter – Pacific Business News

More than 3,500 people have shown some type of interest in the affordable condominiums at the second building under construction at 801 South St. in Honolulu, according to the developer.

So far, 600 prospective buyers have submitted applications to secure one of the 410 condo units, which are priced from $350,000 to around $700,000, and 347 units are now under contract, according to figures released this week by the developer,

The units at the former Honolulu Advertiser Building site went on sale in March. The project’s developer, Downtown Capital LLC., said that 85 percent of the buyers are families who are earning less than 140 percent of the area median income, which was required by the Hawaii Community Development Authority.

All of the buyers are from Hawaii, Downtown Capital said. They were chosen through a lottery.

A lottery for the first building at 801 South St. was held in March 2013.

Maintenance fees will range from $255 for a one-bedroom unit to $360 for a three bedroom unit, Downtown Capital said.

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