Uahi Ridge affordable housing broke ground on Wednesday near the Aloha Church in Lihue.
The location, 4534 Uahi Road, is across the street from Taco Bell and Burger King, near the Department of Water. A press release from the developers describe the project’s site as “ideal and within walking distance to the Kukui Grove Center, employers, shopping, healthcare and other services.”
Uahi Ridge is being developed in partnership with the County of Kauai, Mark Development, Waa Partners, LLC., 3 Leaf Holdings, Inc., and the Hawaiian Community Development Board.
Hawaii Housing Finance and Development Corporation Executive Director Dean Minakami represented Gov. Josh Green at the groundbreaking of the first phase of the two-phased project.
“Gov. Green has made affordable housing his top priority, making the unprecedented art of declaring an Emergency Proclamation for housing,” Minakami said. “We are very grateful that Ikenakea and Mark Development and their development team have stepped up to meet this challenge.”
“We all know that there is a great demand for truly affordable housing, and that is why we are very pleased to see Uahi Ridge, Phase I break ground,” Minakami said. “What we’ll have here is 95 one, two, and three bedroom units that will be affordable to households earning no more than 60 percent of the county’s median income. What this translates to is that rents will be affordable to a couple earning about $63,000 a year, or about $80,000 for a family of four.”
Other dignitaries participating in the groundbreaking celebration that utilized the outdoor drive-through of Aloha Church included Mayor Derek S.K. Kawakami, the Kauai County Council, the Housing Agency, Mark Development, and more, including the work crews that already started turning the dirt on the project.
“Our priority has always been to take care of our ohana, our community and our home,” said Kawakami. “Uahi Ridge — I didn’t even know the name of this place until we got involved — is a reflection of years of hard work by our County Housing Agency, Mark Development, Waa Partners and Three Leaf Partnership, Hawaiian Community Development Board, our Kauai County Council, and the Lihue community. I want to thank everyone — especially those not from Kauai — who worked for the benefit of our people. Soon, many of our local families will have a place to proudly call home. I’m grateful to everyone, including the workers who are turning the dirt, who stood behind this project and helped make it a reality.”
Rents at Uahi Ridge were established in compliance with federal guidelines aimed to support households earning 50 and 60 percent of the Area Median Income, or AMI. Additionally, 10 units are reserved for households earning 40 percent AMI, and eight units reserved for those earning as little as 30 percent AMI.
Uahi Ridge received financing from the HHFDC, Hula Mae Multifamily Bonds, federal and state Low Income Housing Tax Credits, and the Rental Housing Revolving Fund. Support also came from the Kauai Housing Agency, and HUD Project Based Section 8 Vouchers. American Savings Bank is the lead bond purchaser and lender, and Hunt Capital Partners is the Tax Credit Syndicate.
“Projects like this do not come easy,” Minakami said. “It requires vision, resilience, commitment and patience. For Uahi Ridge Phase I, HHFDC awarded $39 M in low income housing tax credits, a $25M low interest load from the state’s rental housing revolving fund, and $36M in private activity bond financing.”
With ample storage space and abundant tenant and guest parking, Uahi Ridge units will include eight, three-story low-rise buildings, plus one multi-purpose room to support family activities. It will be focused on family living and a keiki playground will be featured adjacent to the multi-purpose room.
Most important- when will it be completed???