IT IS AN APARTMENT COMPLEX AT 7-54 MCCULLY STREET. MAYOR KIRK CALDWELL SAYS THE COMPLEX’S LOCATION PUTS IT CLOSE TO DOWNTOWN HONOLULU… WAIKIKI AND THE UNIVERSITY OF HAWAII.
KIRK CALDWELL, HONOLULU MAYOR: “IT’S SMALL, ONLY 10 UNITS, PRETTY DARN NICE, OF WHICH 8 ARE ONE-BEDROOM UNITS AND 2 ARE TWO- BEDROOM UNITS. AND THE ONE-BEDROOM IS ABOUT, THE RENT’S TWO-BEDROOM, $1,500.” SANDRA PFUND, DEPARTMENT OF LAND MANAGEMENT DIRECTOR: “WHEN WE FOUND THIS PROPERTY, IT WAS, A PERSON SPECULATE IT, FIX IT UP AND THEN RENT THE UNITS OUT AT VERY HIGH MARKET RATES. AND WE WOULD BE LOSING OUT ON AFFORDABLE HOUSING IN OUR NEIGHBORHOOD.” BRIGETTE: CALDWELL SAID THE CITY BOUGHT THE PROPERTY FOR 4-MILLION AND COMPLETED THE PROJECT IN MAY.
MORE THAN 100 PEOPLE SIGNED UP TO RENT ONE OF THE 10 UNITS. FOUR PEOPLE HAVE ALREADY MOVED IN. BRIG:.
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