By Janis L. Magin – Senior Editor, Pacific Business News
The first residents have started moving into apartments at Hale Moena Kupuna, a $130 million affordable senior rental project with 153 units that is also the first high-rise building in Kapolei.
The 13-story residential tower is the first of two towers on the site — the second tower currently under construction will be affordable rentals for families.
The towers are being developed by a partnership of California-based Highridge Costa and Coastal Rim Properties of Honolulu. A third phase will include commercial and retail space.
A lottery was held in March for the senior units, which are for people ages 62 and older who make no more than 60% of the area median income, but units are still available. Michaels Management is handling the leasing and management of the building.
The second tower broke ground in August and is scheduled to be completed in the first quarter of 2021.
Highridge Costa and Coastal Rim Properties are also developing a 20-story, 223-unit senior affordable rental tower in Downtown Honolulu, on a 12,842-square-foot lot at 1192 Alakea St. in recently purchased for $6.2 million. The developers plan to start construction in the first quarter next year and expect construction will take 20 months.