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.
So which is better? The Central or Azure?
Within the past week many people have flocking over to Azure Ala Moana which is the most recent condo to open it's gallery to the public. With their sudden announcement to begin sales (Saturday, September 22nd) many people have been very curious on whether to buy Azure, or to wait for one of the other buildings that will come to the Kapiolani Corridor. Many are torn between whether they should pull the trigger on Azure or if they should wait for The Central Ala Moana.
Here is my personal opinion of the two. When comparing the two buildings you are essentially comparing apples and oranges. Both buildings will be very different from the exterior finish and aesthetics, all the way down to the maintenance fees and price point of the units. The only obvious similarities are that they will both be located in the "Midtown-Alamoana/Kapiolani Neighborhood" and have a commercial component on the ground floor.
Lets Compare the Amenities for both buildings
Azure definitely has more amenities and it is aiming to be more luxurious than The Central Ala Moana. If you are familiar with Honolulu Real Estate you can think of Azure as a hybrid of Symphony Honolulu and The Collection. Whereas The Central Ala Moana will be a more luxurious version of Kapiolani Residence.
Views and Location. Between the two buildings, the location for both is fantastic. You are centrally located in the heart of Honolulu, with close proximity to the beach, Ala Moana, shops, restaurants, grocery stores, and public transportation. But between the two, I personally like The Central. Here's my two-sense on it, The Central is on the Makai/Ocean Side of Kapiolani which to me is the preferred side as you will not see much other construction (unless Ala Moana builds a condo on top of their parking lot). Azure's location while prime will see other towers come up around it. There are currently 8 other towers that want to come into the neighborhood with the possibility of more. Azure's view planes will be obstructed in the future but should still have views and channel views of the ocean depending on your location.
Affordable Units vs. Affordable Rentals. The biggest difference will be the fact that The Central will have Affordable units for sale (60% of the building) whereas Azure will have affordable rentals. Those renters at Azure will not be able to use the amenity area. Whereas at The Central, everyone can use the amenities regardless of whether they own affordable or a market unit.
At the end of the day, if you will be living in either condo, both are fantastic choices and I cannot express more on how great the location will be. The entire Kapiolani corridor will be re-developed and you practically have everything at your finger tips. Now if you're buying it as a rental, that's another story and I will save it for another time. But if you have any questions or comments please feel free to reach out to me!
For inquiries about The Central Ala Moana or the prices for Azure, please contact me by call, text, or email. All pictures are courtesy of SamKoo Pacific, LLC and Azure Ala Moana and are subject to change.
The Seller and Developer, SamKoo Hawaii, LLC, is represented by Century 21 iProperties Hawaii. Jonathan Pang (R) and Coldwell Banker Pacific Prop. 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.