Janice Takahashi

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Bring Workers Home Regional Workforce Housing Forum--Honolulu, HI--October 12, 2010

Published in: Real Estate
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Janice Takahashi

  1. 1. Bring Workers Home<br />Hawaii Housing Finance & Development Corporation<br />October 12, 2010<br />
  2. 2. Overview<br />Housing Need<br />HHFDC<br />Continuum of Housing Assistance<br />Financing Resources<br />Development Resources<br />2<br />
  3. 3. Housing Need<br />Source: SMS Research, 2006 Hawaii Housing Policy Study<br />3<br />
  4. 4. Housing Need<br />Source: SMS Research, 2006 Hawaii Housing Policy Study<br />4<br />
  5. 5. 5<br />
  6. 6. 6<br />
  7. 7. HHFDC<br />Created by Act 196, SLH 2005<br />Need for 28,000+ housing units<br />Very tight housing market drives out those who can least afford to pay for housing; even moderate-income families<br />Burden of administering public housing has overshadowed the ability to pay sufficient attention to financing and developing housing<br />7<br />
  8. 8. HHFDC<br />Mission:<br />To increase the supply of workforce and affordable housing by providing leadership, tools and resources to facilitate housing development.<br />8<br />
  9. 9. Continuum of Housing<br />DHS<br />…..DHS….. …HPHA… …..HHFDC…..<br />9<br />
  10. 10. Financing Resources<br />Interim Loans<br />Rental Assistance Revolving Fund<br />Dwelling Unit Revolving Fund (DURF)<br />Hula Mae Multi-Family Revenue Bonds -interim and permanent (HMMF)<br />Equity Financing<br />Low Income Housing Tax Credits (LIHTC)<br />Equity Gap<br />Rental Housing Trust Fund (RHTF)<br />Website: http://hawaii.gov/dbedt/hhfdc<br />10<br />
  11. 11. Hale Wai Vista I, Waianae<br />Developer: HHDC<br />84 family units<br />30-50% HUD AMI<br />$23.2 million<br /><ul><li>DURF
  12. 12. LIHTC
  13. 13. RHTF
  14. 14. ARRA TCAP</li></ul>11<br />
  15. 15. Lokahi Apartments, Kona<br />Developer: Vitus Group<br />306 family units<br />30-60% HUD AMI<br />$62.6 million<br /><ul><li>HMMF
  16. 16. LIHTC
  17. 17. RHTF</li></ul>12<br />
  18. 18. Mortgage financing<br />Hula Mae Single Family<br />Mortgage Credit Certificate<br />13<br />
  19. 19. Development Resources<br />Chapter 201H<br />Expedited land use approvals<br />Planning, zoning, subdivision, construction exemptions<br />Land<br />State land<br />Loans to acquire private land (DURF)<br />Website: http://hawaii.gov/dbedt/hhfdc<br />14<br />
  20. 20. Villages of Kapolei, Oahu<br />15<br />888 acres<br />4,500homes at build-out<br />3,500 completed<br />$196.5M total development<br />HHFDC master developer<br />Private developers<br />
  21. 21. Villages of Leiali'i, Maui<br />16<br />
  22. 22. Kamakana Villages at Keahuolu, Hawaii<br />17<br />272 acres<br />Up to 2,300homes<br />Forest City Hawaii developer<br />
  23. 23. Mahalo!<br />18<br />http://hawaii.gov/dbedt/hhfdc<br />
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