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Housing deal near collapse

The buyers of 12 Honolulu affordable complexes have until Monday to respond to concerns by the city

By Gordon Y.K. Pang

POSTED: 01:30 a.m. HST, Jan 04, 2014

~~<p>The partnership that agreed to pay $142 million to purchase 12 Honolulu affordable-housing complexes from the city now has until Monday afternoon to respond favorably, or it's likely the deal will be nixed.</p>
<p>&quot;It is a collapsing deal,&quot; Honolulu Managing Director Ember Shinn told a City Council committee Friday. &quot;If it is salvageable, it will be through some efforts that will be extraordinary. And we are uncertain at this time about the outcome.&quot;</p>
~~

The partnership that agreed to pay $142 million to purchase 12 Honolulu affordable-housing complexes from the city now has until Monday afternoon to respond favorably, or it's likely the deal will be nixed.

"It is a collapsing deal," Honolulu Managing Director Ember Shinn told a City Council committee Friday. "If it is salvageable, it will be through some efforts that will be extraordinary. And we are uncertain at this time about the outcome." Login for more...



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