Cushman & Wakefield ChaneyBrooks is pleased to present for sale 1525 Liholiho Street, a fully entitled, ready to issue permit development opportunity to build 37 apartment units in the heart of urban Honolulu. The entitled plans contain a mix of 20 two-bedroom units and 17 studio units with 14 parking stalls. The building has two sizeable spaces dedicated exclusively for amenities allowing for enough space to include both a fitness center and multimedia/entertainment room, giving residents the option to host parties or football Sunday get togethers in amenity rooms usually only found in luxury projects.
Having made use of density bonuses offered through Honolulu’s affordable rental housing program, the building’s income restricted units are the perfect option for Honolulu families, young professionals, university professors and students who want to live in the heart of Urban Honolulu at affordable rental rates. With a multitude of potential incentives and rebates being offered by the City, the project may allow a developer property tax exemptions for units rented to those making less than 80% AMI, whilst also providing the option of renting units up to 100% AMI. The shortage of affordable housing options makes this the perfect opportunity for those looking for an opportunity to own a new, CMU building where the location and demographics should ensure low vacancy rates for decades to come.
