Hunt Capital Partners, a leading syndicator of Low-Income Housing Tax Credits (LIHTC), recently facilitated the financing of Hālawa View II, a 302-unit affordable housing development in Honolulu, Hawaii. This project, developed by Pacific Development Group, will significantly impact Honolulu’s affordable housing landscape.
Addressing Honolulu’s Housing Crisis with Hālawa View II
Honolulu faces a severe housing affordability crisis, with housing costs significantly exceeding the national average. Hālawa View II aims to alleviate this burden by providing quality affordable housing options for low-income families earning 30-60% of the area median income. The development expands upon an existing 121-unit community, adding a mix of studio, one-, two-, and four-bedroom apartments. Located adjacent to a planned rail station, the high-rise building aligns with Honolulu’s transit-oriented development strategy, offering residents convenient access to transportation and amenities.
Amenities and Supportive Services at Hālawa View II
Residents of Hālawa View II will enjoy a range of on-site amenities, including a community room, exercise facility, parking garage, playground, and laundry facilities. The development prioritizes resident well-being with features like lounge areas, a picnic area, and on-site management. Importantly, five units are specifically designated for individuals experiencing homelessness or participating in support services like “Housing First,” with referrals provided by U.S. Vets and additional coordination offered at no cost.
Hunt Capital Partners’ Role in Financing Affordable Housing
Hunt Capital Partners played a crucial role in securing funding for Hālawa View II. The firm syndicated $79.9 million in Federal LIHTCs through its proprietary fund with JPMorgan Chase & Co. This substantial investment, combined with $39.9 million in State LIHTCs, enabled the project’s realization. The successful closing of this financing demonstrates Hunt Capital Partners’ commitment to addressing the nation’s affordable housing needs. Hunt Capital Partners collaborated with a skilled development team, including Hunt Development Group, Nordic PCL Construction, AHL, and Mark Development, Inc., to bring this impactful project to fruition. The collective expertise ensured the creation of high-quality, sustainable affordable housing for Honolulu families.
Conclusion: A Positive Impact on Honolulu’s Community
Hālawa View II represents a significant step toward providing much-needed affordable housing in Honolulu. The development will not only offer safe and comfortable homes but also contribute to the community’s overall well-being through supportive services and convenient access to transportation. Hunt Capital Partners’ successful financing of this project underscores its dedication to creating positive change in communities across the country.
