By Staff Reports
(Honolulu)—Mayor Peter Carlisletoday announced a major milestone for the Honolulu Affordable Housing Preservation Initiative through the release of a Request for Proposals on February 15, 2012.
“The City is committed to preserving affordable rental units,”Carlislesaid. “Through the Request for Proposals, we hope to accomplish our decade-long effort to secure the future of the City’s rental housing portfolio, while creating an opportunity for a new public-private collaboration that will benefit the residents and the City.”
The Request for Proposals seeks a qualified entity to purchase the City’s 12 rental housing complexes and lease the land from the City for 65 years. The purchaser would be subject to City Council approval and would be required to abide by current affordable housing guidelines throughout the term of the lease, and would assume full responsibility for the operation, management, and maintenance of the rental housing complexes.
The release of the Request for Proposals drew the support of Faith Action for Community Equity (FACE), a community interest group that has worked with the City to keep residents informed of the City’s plans. “FACE is supportive of the City’s plan to transition ownership of the its rental housing projects,” saidDrew Astolfi, Oahu Director for Faith Action for Community Equity, “We are pleased that through this offering, the City is affirming its commitment to maintaining long term affordability.”
The 12 complexes include 850 apartment units which qualify under the federal Department of Housing and Urban Development guidelines for low and moderate income households with incomes of 80 percent or less of the median; 189 “gap group” apartments for families with incomes of 80 to 120 percent of the median; and 218 market rate rental units (see attached fact sheet).
The City retained CB Richard Ellis, one ofHawaii’s leading real estate brokerage firms, to help solicit and review proposals from private entities interested in acquiring the City’s rental housing complexes.
The Request for Proposals is available at www.CBREMarketplace.com/HAHPI for a fee of $100. The public can review copies of the Request for Proposals at the Department of Community Services,715 South King Street, Suite 311, and at the Department of Budget and Fiscal Services, Division of Purchasing,530 South King Street, Room 115, between the hours of 7:45 a.m. to 4:30 p.m. Monday through Friday, excluding State holidays.