HONOLULU – Applications are now being accepted for 78 affordable rental apartments at 1518 Makaloa Street. The studio and 1-bedroom affordable rental apartments will be made available to qualified renters earning up to 80 percent of the area median income on a lottery basis, starting at monthly rents of $1,362 for a studio and $1,510 for a 1-bedroom unit including water and sewer utilities. 1518 Makaloa Street is part of Azure Ala Moana, a new transit-oriented development project in Honolulu’s Ala Moana neighborhood, which is expected to be complete in fall 2021.
“The need for affordable housing is critical, especially following the impact of the pandemic on our community,” said Rick Stack, executive vice president, ProsPac Holdings Group. “We’re pleased to make 1518 Makaloa at reality, and we look forward to welcoming tenants to their new homes.”
Located at the corner of Keeaumoku Street and Makaloa Street, tenants will have access to ample neighborhood amenities, including a wide range of shops and restaurants, as well as a public plaza with programmed community events, such as farmer’s markets and small shows. The planned rail station and current bus hub at Ala Moana Center are less than 1/4 mile away, and a Biki bike-share station is located right outside of the building, offering tenants convenient transportation options.
To be eligible, applicants must submit a completed rental housing application. The application submittal period will be from March 1, 2021 to June 30, 2021. Rental housing application packets may be obtained from Hawaiian Properties, Ltd at 1165 Bethel Street, 2nd Floor, Honolulu, HI 96813 and online at www.1518Makaloa.com starting February 1, 2021 at 9:00 a.m.
Prospective renters should carefully review the information contained in the rental housing application packet to determine whether all eligibility requirements are met. Applicants may direct questions to Mr. Benjamin Voss at benjaminv@hawaiianprop.com.
The earliest date that completed rental housing applications will be accepted is March 1, 2021 at 9:00 a.m., to Hawaiian Properties, Ltd at 1165 Bethel Street, 2nd Floor, Honolulu, HI 96813. Applications can be hand-delivered between the hours of 9:00 a.m. and 4:00 p.m., Monday to Friday or submitted online or by mail. Rental housing applications for the initial lottery selection of units will not be accepted prior to March 1, 2021 and after June 30, 2021. Only substantially completed applications will be accepted. An initial application fee of $30.00 is required upon submittal of complete application. Applicants determined to be ineligible because of income limits or other eligibility requirements will be notified and may be placed on a waiting list should income eligibility requirements change.
Only qualified applicants who have submitted a completed rental housing application by an initial deadline of June 30, 2021 at 4:00 p.m. will be eligible for an initial lottery unit selection process. Following an initial lottery unit selection process and based on the order in which completed applications are received, qualified applicants will be assigned a unit selection number that establishes the sequence in which prospective occupants will be able to select an affordable rental housing unit. Unit selection will commence on August 2, 2021 at 12:00 p.m. A review fee of $75.00 is required from all applicants upon lottery unit selection.
As units become available, qualified applicants will be eligible to select a rental housing unit in the order in which completed applications are received. This process shall continue until all affordable rental units in 1518 Makaloa Street are occupied.
Qualified applicants must submit an initial reservation deposit in the amount not to exceed one-half of one month rent, which will be required to be paid at the time of unit selection and upon executing a rental contract for an affordable rental unit, and one-half of one month rent which will be required to be paid at the time when first month rent is due, making up total of one month rent as the security deposit.
For more information, please visit www.1518Makaloa.com.
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