An update has recently come down the pipeline on the Pulelehua working-class housing community under development in the Napili-Honokowai area near Kapalua Airport. With so much luxury real estate in West Maui, it can be challenging for some hard working folks to find an affordable place to live. This project is an effort to address that. According to a recent report from the developer, the first phase of the 304-acre community will feature the first apartment complex built in West Maui in over 20 years.
Originally, the plan was going to include 882 single-family and multifamily homes, with half meeting the criteria for affordable. Now, the first phase will involve the construction of an apartment complex with 250 long-term rentals. This will break down to 130 workforce and 120 market-rate units. The complex will be located on Akahele Street. Officials have supported the change of plans because it helps address the shortage of apartments in West Maui. This phase of the project should take an estimated 18 months to complete, but could have units ready to rent in just 14 months.
Unlike the towering structures that most Americans envision when they think of an apartment complex, this one will consist of all single-story units, from studios to two bedrooms. For the workforce units, rent is estimated to range from $1,000 to $2,000 per month, which is reasonable for long-term West Maui rentals.
Some of the highlights of the project include a grocery store, church, gas station, community center and other neighborhood stores. Not only that, but Cheng is working with the state on making it a "green" development, starting with solar panels. These will lower long-term utility costs and reduce the environmental impact of the project.
The goal is to begin construction by the end of 2017, according to Paul Cheng, president and CEO of USA Infrastructure Investments LP. The company, based in Dallas, is part of a partnership that purchased the property from Maui Land & Pineapple Co. for $15 million in June. Based on their progress, they've been busy hashing out the details of this development since then.
If you'd like to know more about West Maui real estate developments that could interest you as a prospective buyer, you'll find our contact information at the bottom of the page. We will be happy to help you navigate the market to find the right home, and the right investment for your needs. Mahalo!
An update has recently come down the pipeline on the Pulelehua working-class housing community under development in the Napili-Honokowai area near Kapalua Airport. With so much luxury real estate in West Maui, it can be challenging for some hard working folks to… Continue Reading
Plunging into the Maui real estate market can leave you with a lot of questions. You may stumble upon unfamiliar terms like "ohana" or "leasehold" vs "fee simple." You may be interested in discovering the accessibility or maybe the cultural nuances of the various… Continue Reading