So what is being done to make it more fair?
According to The Star Advertiser, and plans submitted by SamKoo, the project is trying to get it approved so that there will be a certain number of units for each income bracket. This would mean that rather than competing against every single applicants, you would only be competing with people that are in the same Area Median Income (AMI) bracket. Also, the AMI limit has been increased to 140%.
Based on the plans submitted to the City and County, here is the tentative breakdown for the affordable units:
If this isn't approved, it is possible that it could favor those who earn less. For example if 620 applicants applied and 310 were in the 80-100% AMI and the remaining 310 were in the 110-140% AMI, then the 310 who are in the 80-100% bracket would get units and the other 310 wouldn't since HHFDC decides on the order.
We are hoping to hear good news on getting this changed so that it would allow everyone a fighting chance to get a unit at The Central Ala Moana. The project ideally wants to start within the next 2 months, but it depends on this approval. Stay tuned for updates and I will be sure to let you know whether this has been approved or not. Feel free to call, text, or email me if you have any questions that come to mind. For more information on the affordable housing you may click the button below.
The Seller and Developer, SamKoo Hawaii, LLC, was represented by Century 21 iProperties Hawaii. Jonathan Pang (R) and Coldwell Banker Realty does not represent the Developer/Seller but are Buyer’s agents with respect to any sale in The Central Ala Moana or any other area. All images, maps, and videos are visuals to help understand the vicinity and are subject to change due to the developer.
Coldwell Banker Realty fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Real estate agents affiliated with Coldwell Banker Realty are independent contractor sales associates and are not employees of Coldwell Banker Realty
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©2018 Jonathan Pang (R) Certified Residential Specialist, Certified International Property Specialist, and New Projects Specialist. Hawaii Real Estate License #RB-22025. All Rights Reserved.