Low-income Kapolei housing lottery set for Thursday

A lottery via Zoom to select tenants for new low-income rental housing in Kapolei is scheduled for Thursday.

The developer of the 143-unit project called Hale Moena Ohana said about 270 applications have already been received and that prospective tenants can still enter the lottery with applications submitted online before 10 a.m. Thursday.

Hale Moena Ohana is expected to be ready for tenants in March.

The 13-story building is a second phase of a $130 million low-income housing project led by California- based developer Highridge Costa and largely financed with bonds, loans and state and federal tax credits arranged through the Hawaii Housing Finance and Development Corp., a state agency that helps facilitate affordable-housing development.

A third phase with single-story retail buildings is also part of the project.

An initial phase, a 13-story tower called Hale Moena Kupuna, opened last year with 154 rental apartments reserved for seniors with low incomes.

The second phase features studios and apartments with one to three bedrooms reserved for households earning no more than 60% of the annual median income for Oahu.

This maximum equates to $52,920 for a single person up to $93,720 for a family of seven. Some units are reserved for households earning half as much.

Monthly rent ranges from $1,323 for studios up to $1,962 for three-bedroom units for tenants at the higher income cap, and half as much for tenants at the lower income level.

Application and other project information can be found at ohanaapts.com.

An affiliate of The Michaels Organization is managing the pro­j­ect being developed by Highridge in conjunction with Coastal Rim Properties and the nonprofit Hawaiian Community Development Board.

Under financing conditions, affordable rents tied to low income levels defined by the federal Department of Housing and Urban Development must be maintained for 61 years.