The Hawaii Community Development Authority may be looking for a developer to build an affordable housing project on land it owns in the growing Honolulu neighborhood of Kakaako.
The Hawaii Community Development Authority, which is overseeing the redevelopment of the area between Downtown Honolulu and Waikiki that will gain thousands of new residents living in several new high-rises in the coming years, may issue a request for proposals for such a development at 630 Cooke St.
The vacant industrial parcel, which consists of about 10,400 square feet and is located between Sunshine Scuba and Baby Emporium, is currently being used as a surface parking lot.
“We acquired the parcel of land in the 1990s through the Cooke Street realignment improvement district project,” HCDA spokeswoman Lindsey Doi told PBN via email. “We always hoped it could help supplement Kakaako’s housing supply, and we’re looking for a different type of housing unit that might be a better fit for qualified income groups.”
She noted that microunits are an option, since these types of units might create smaller rental units for lower prices.
“If the RFP is approved, we could solicit bids and choose a developer by February 2015,” Doi said.
The property has an estimated value of about $1.9 million, and is owned by the HCDA, according to tax records. No building permit has been filed for the property since 1991.
The HCDA is scheduled to make a decision whether or not to issue an RFP to develop the property at its regularly scheduled meeting on Wednesday, starting at 10 a.m. at 461 Cooke St.
Duane Shimogawa Reporter – Pacific Business News