A vacant plot of land in Hawaii Kai is going to be turned into a rental apartment complex.
The developer, Avalon Development Company, presented details to the Hawaii Kai Neighborhood Board on Tuesday night.
Avalon already has all the necessary approvals and permits, and the project is scheduled to break ground in two weeks.
The new rental apartment complex will be called “7000 Hawaii Kai Drive.”
It’ll be located at the corner of Hawaii Kai Drive and Keahole Street.
There will be 269 units, 54 of which will be affordable units for those meeting income requirements.
“The rents that we’re going to be targeting is about $1495 to $2200 for families of 3 and 4,” said Christine Camp, Avalon Development Company President & CEO.
All of the units will either have two or three bedrooms, with the goal of creating a family lifestyle community.
“I’m really excited to discuss the project with everyone. It’s final. You know there’s been three false starts, and here we are, we actually have the money, the permits and the plan and to me that’s good for the community because it’s allowing for an option that’s not available here,” Camp said.
The false starts were in reference to the luxury condominiums that were initially planned for that site, but fell through.
As for a timeline, the project is expected to be finished, and ready to rent out by the middle of 2016.
They won’t start leasing the units until about a year from now.