Kakaako’s development boom is about to deliver another batch of new homes.

A midrise rental apartment building reserved for residents with incomes up to the median in Honolulu will begin accepting tenant applications Aug. 18 in preparation for an opening by the end of this month.

The 209-unit project called Keauhou Lane at 502 Keawe St. is being developed and managed by Oregon-based affordable-­­housing development firm Gerding Edlen on land owned by Kamehameha Schools.

Monthly rents range from $1,288 to $2,108 for studios, one-bedroom units and two-bedroom units with 298 to 745 square feet of living space.

Some apartments are reserved for households earning up to 80 percent of the annual median income, which equates to $58,640 for an individual and $83,680 for a family of four. The balance of units are reserved for households earning up to the median income, or $73,300 for an individual and $104,600 for a family of four.

“We know there’s strong demand for workforce rentals, and we’re pleased to offer apartments that are not only attractive and well-designed but also environmentally and energy friendly,” Brent Gaulke, a Gerding Edlen partner, said in a statement.

Amenities include air conditioning, stainless-steel appliances, an indoor lounge, two outdoor decks with grills, bike and car parking, solar water heating and energy-efficient lighting. Pets are welcome.

Several retail tenants are slated to occupy parts of the building, which is next to the Keauhou Place condominium tower nearing completion and a planned city rail station. Commercial tenants include natural food store Down to Earth, Sweat + Soul, Hi Craft, Ya-Ya’s, Tea Time and Ultimate Foot Store. A timetable for retailer openings was not available Wednesday.

More information is at keauhoulane.com.