November 6, 2018 - UPDATE
Anticipated price ranges for
Studio: Starting at $286,000
1-Bedroom: Starting at $396,000
2-Bedroom: Starting at $493,000
3-Bedroom: Starting at $700,000
Market Price Units
1-Bedroom: $580,000 - $630,000
2-Bedroom: $777,000 - $998,000
3-Bedroom: $990,000 - $1,398,000
Contact me for more information!October 28, 2018 - UPDATE
The Central Ala Moana:
Seminar Registration is Now Open!
Select the link next to your desired session to register.
Saturday, November 10
9:00AM - 10:30AM | bit.ly/SeminarSession1
11:00AM - 12:30AM | bit.ly/SeminarSession2
Sunday, November 11
9:00AM - 10:30AM | bit.ly/SeminarSession3
11:00AM - 12:30AM | bit.ly/SeminarSession4
Sunday, November 18
9:00AM - 10:30AM | bit.ly/SeminarSession5
11:00AM - 12:30AM | bit.ly/SeminarSession6
Applications will be available at the seminars.
Registration will begin soon!
--August 15, 2018
- SamKoo wins final approval for Ala Moana condo: Star Advertiser article here
Embracing the view that affordable housing units in the near future trump a transit hub on the same site in the distant future, the Honolulu City Council on Wednesday voted 9-0 to approve exemptions clearing the way for SamKoo Hawaii’s 43-story, 513-unit The Central Ala Moana.June 12, 2018
- The Central Ala Moana Update
- 43-story residential tower.
- 513 units (including 1 unit for the Resident Manager)
- Studios - 93
- One-bedrooms - 145
- Two-bedrooms - 223
- Three-bedrooms - 52
- 60% affordable units (310 units) - studios, 1, 2 & 3 bedrooms
- 40% market (202) units - 1,2 and 3 bedroom units
10 floors of parking + 1 recreation deck
Amenities: pool, kiddie pool, kid's playground, BBQ, cabanas, multi-purpose room, fitness center.
1st floor commercial units
Sales to begin at end of 2018 with anticipated completion in 2021
Pricing not yet available.
The Central Ala Moana is a new condominium development in Honolulu being developed by SamKoo Hawaii, which has designated the company that I'm with, Century 21 iProperties Hawaii as the exclusive broker for SamKoo's 2nd groundbreaking development.
Equipped with state-of-the-art appliances and premier market property, this new project is allocating 60 percent of its 512 units as affordable housing.
Set on a 1.43-acre lot at 1391 Kapiolani Blvd., The Central Ala Moana is set to break ground in Spring 2019, with an estimated completion date set for 2021.
It is SamKoo’s second affordable housing project in Hawaii, and is one of the few private development projects where over half of the units are allocated to first-time homebuyers under affordable housing guidelines.
SamKoo's first project is Kapiolani Residence, located at 1631 Kapiolani Blvd., has 292 affordable units out of a total 484 condos.
Frequently asked questions about "Affordable Housing" (subject to change):1. What is HHFDC?
The Hawaii Housing Finance and Development Corporation (HHFDC) is the primary agency charged with overseeing affordable housing, financing, and development in Hawaii.Their website is http://dbedt.hawaii.gov/hhfdc/2. What are the benefits of HHFDC's Affordable Housing?
1. Allows eligible and qualified applicants to purchase at below market prices
2. Homebuyers have an opportunity to live in town at a brand new development that fits their budget
3. There are no asset limits
4. Gifting and co-signing provide an opportunity for homeownership.
5. No household limitations (subject to the City and County of Honolulu ordinances)
6. SAE is a percentage of appreciation and can be paid off at any time after close3. What are the buyer's procedures?
1. Attend an educational seminar and receive an Application Packet
2. Fill out the Application Packet and meet with a Lender for pre-qualification
3. Return the completed packet to the Sales Center by the designated date and time
4. HHFDC First Review – Review of applications to determine eligibility
5. Public Drawing
6. HHFDC Second Review – Assignment of Property Selection Number (PSN)
7. Unit Selection & Contract Signing
4. What are the income limits for Affordable Housing?
Affordable Housing is for buyers earning 120% and below of the Honolulu County Area Median Income.
Current chart found here