MEDIA RELEASE

Mohouli Heights Senior Neighborhood, a 60-unit affordable senior rental housing project in Hilo, has scheduled a groundbreaking ceremony at 10:30 a.m. Thursday, March 29, 2012. Mohouli Heights Senior Neighborhood Phase 1 is the result of a public-private collaboration between State of Hawaii’s Hawaii Housing Finance and Development Corporation (HHFDC), U.S. Department of Housing and Urban Development (HUD), County of Hawaii, Rural Community Assistance Corporation (RCAC) and the Hawaii Island Community Development Corporation (HICDC).

HHFDC provided $20.5 million in state and federal Low Income Housing Tax Credits, a Rental Housing Trust Fund (RHTF) loan of $8.6 million, and a Rental Assistance Revolving Fund (RARF) loan of $7.5 million.

The project is also financed with $600,000 in HOME Investment Partnership Act funds administered by the County of Hawaii and a $4.0 million interim loan from RCAC.

The rental units are targeted at seniors whose incomes are at or below 30 to 50 percent of the Hawaii County median income as determined by HUD.

Utilizing rental assistance from HUD and the County of Hawaii the tenants’ share of the monthly rent will be approximately 30 percent of their income for a 576 square foot one-bedroom unit. In exchange for federal and state financing and tax credits rents will remain affordable for 61 years.

“By providing public lands and working with the Hawaii Island Community Development Corporation, the County of Hawaii continues its collaborative efforts to provide safe, decent and affordable housing for our kupuna,” Mayor Billy Kenoi said. “In addition to generating much need jobs today, the Mohouli Heights Senior Neighborhood Phase 1 project will be a model as we build an expanded center to serve the needs of our growing senior population.”

“The Hawaii Island Community Development Corporation wishes to acknowledge the assistance that we have received for this project from all levels of Federal, State and County government,” HICDC Executive Director Keith Kato said.

“The cooperation of the Federal, State and County agencies has been the key in putting this project together with our investors, the HHF Equity Fund VI, LLC. We are working to continue the development of this Mohouli project with a new home for the Hilo Adult Day Center to replace their current facility at the old Hilo Memorial Hospital on Rainbow Drive,” he said.

“Public-private partnerships like this are essential to producing affordable housing,” HHFDC Executive Director Karen Seddon said. “By leveraging state resources, we are able to produce more with less. In addition to delivering safe and affordable housing for our seniors, these projects also create construction jobs and project value, investing in the future of our community.”

Mohouli Heights Senior Neighborhood is located at the corner of Komohana and Mohouli Streets in Hilo. Phase 1 is comprised of 11 residential buildings and a community gathering place connected with covered walkways. In addition to the new Hilo Adult Day Center future plans include 90 more residential units for seniors.

The Hawaii Island Community Development Corporation (HICDC) is a 501(c)(3) non-profit organization whose mission is to assist low and moderate income residents of the Island of Hawaii to obtain affordable housing. The two programs being carried out are self help housing and senior rentals, both of which are oriented to low income households.

To date HICDC has worked with 254 Big Island self help builders to complete their homes, including projects in Kohala, Kailua-Kona, Pepeekeo, Keaukaha, Panaewa, Keaau and Mountain View. Senior rental projects have been completed in Hilo, Waimea, Kapaau and Kailua-Kona totaling 188 units.

All together HICDC has developed 442 affordable housing units on Hawaii Island.

For more info:

County of Hawaii – Office of Housing and Community Development
East Hawaii:
50 Wailuku Drive
Hilo, HI 96720-2456
(808) 961-8379
Fax: (808) 961-8685
West Hawaii:
74-5044 Ane Keohokalole Highway, Building B, 2nd Floor
Kailua-Kona, HI 96740
(808) 323-4300
Fax: (808) 323-4301
Email: ohcd@hawaiicounty.gov
American Dream Downpayment Initiative Program

Hawaii Island Community Development Corporation
100 Pauahi Street, Suite 204
Hilo, HI 96720
(808) 969-1158
Serving Hawaii County: Mutual Self-Help Housing for low to very-low income families