Habitat for Humanity Begins Construction on Happy Valley CondoJuly 31, 2013, 11:29 AM HST · Updated July 31, 11:37 AM 0 Comments
By Wendy Osher
Habitat for Humanity Maui announced the start of construction on a 16 unit condominium project on Kahawai Street in Happy Valley.
With the start of the project, agency executive director, Sherri Dodson said, “We will be providing an opportunity for homeownership for many who thought they could only dream of owning their own home.”
In a press release statement, Dodson said that with a 0% interest mortgage and the support of volunteers who are helping to build the housing, Habitat for Humanity anticipates the average mortgage payment will be between $1,000 and $1,500 a month.
“This project will be a great opportunity for kupuna, the disabled, veterans and young families just starting out,” she said.
Habitat for Humanity is now accepting applications for home-ownership.
In order to qualify, applicants must show a need by falling within the 25% to 80% of median income for the County of Maui. In addition, officials say they must be living in substandard housing with overcrowded conditions, high rent or be homeless.
Applicants must also demonstrate an ability to repay the 0% interest loan through documentation showing adequate income and low debt. Habitat officials say they are willing to work with families to help reduce debt and increase income.
Also under consideration is an applicant’s willingness to partner with Habitat for Humanity. According to information released by the agency, applicants are asked to contribute a minimum of 500 hours of sweat equity into the project, and take classes in homeowner education, budgeting, and debt management.
Dodson said the project will have deed restrictions, but will also allow families to slowly gain equity in their home.
The three-story Hale Kahawai Condominium is being constructed at 2024 Kahawai Street along ʻĪao Stream. The subject lot was formerly occupied by a single-family residence that was demolished in 1993, according to the Draft Environmental Assessment filed for the project.
The project includes 12 one-bedroom, one-bathroom units, measuring 595 square feet; and four two-bedroom, one- bathroom units, measuring 874 square feet, according to project planning material.
Officials with Habitat for Humanity say each unit will have its own stackable washer and dryer, refrigerator and range. The units also have small balconies with views of ʻĪao Valley and of the ocean.