The neighborhood of Ala Moana is getting a new high-rise that is aimed to be affordable for residents. Kapiolani Residence is a new development which will offer 60% of the units as affordable housing (for sale – not rentals). Kapiolani Residence will be located at 1631 Kapiolani Boulevard, across the street from 24 Hour Fitness. It will be 45 stories tall with a total of 292 (60%) affordable units.
REGISTRATION INFORMATION: Applications for Kapiolani Residence must be received by 5pm August 31, 2016. In order to apply, a potential Buyer must be pre-qualify under the HHFDC’s affordable sales program (HHFDC = Hawaii Housing Finance & Development Corporation) by this date.
Pictured is a rendering of the 45-story, 485-unit Kapiolani Residence condominium that will be developed by SamKoo Pacific and will be located at 1631 Kapiolani Boulevard, just mauka of the Ala Moana Hotel.
What is the Kapiolani Residence?
Address: 1631 Kapiolani Blvd Honolulu, HI 96814
Developer: SamKoo Pacific
Units: 484 of which 60% (292 units) will be affordable housing units and remaining 192 units will be market priced units.
The Kapiolani Residence project will consist of studio, 1-, 2- and 3-bedroom units that will range in price from from $272,000 to $592,000. There will also be commercial spaces that will face Kapiolani Blvd. Building amenities will include a recreation deck that will be connected to the tower via a bridge. There will be cabanas and a BBQ area with a large pavilion for entertaining. Kapiolani Residence will be a great addition to the Ala Moana area corridor and fills the need for affordable and moderately priced urban condominium units in Honolulu.
Price range: $271,549 to $591,598 (for affordable units)
Market priced units pricing not yet determined.
Unit sizes: 400sqf to 1,230sqf.
Unit configurations: Studio to 3BR.
Expected completion: mid 2018.