The Hawaii Community Development Authority, the state agency overseeing the redevelopment of the growing Honolulu neighborhood of Kakaako, has given its executive director unanimous approved to send out a request for proposals to developers wanting to build an affordable housing project on land owned by the agency.
Lindsey Doi, spokeswoman for the HCDA, confirmed to PBN that the decision was made at HCDA’s regularly scheduled meeting on Wednesday. She said that HCDA could begin soliciting bids and choose a developer by Feb. 2015.
The vacant industrial parcel at 630 Cooke St., 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,” Doi previously 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.
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.
Duane Shimogawa Reporter – Pacific Business News