NEW YORK: The four hundred and twenty-first entry for the seniors housing Global Awards for 2015 has been received.
City and County of Honolulu officials say construction on the 151-unit Halewaiolu Residences senior housing complex could begin if the proper financing is obtained and a development agreement is negotiated in time with Michaels Development Co. executives.
Michaels Development Co. Vice President Monika Mordasini said the estimated $49 million, two-tower project, which could be as high as 23 stories, will be funded largely through federal low-income housing tax credits and a permanent mortgage supported by the rental income.
