Posted at 10:41 a.m., Thursday, October 18, 2007
Work to start on Kaua'i affordable rental project
Advertiser Staff
Developers plan to break ground Tuesday on an 82-unit affordable rental housing project on Kaua'i.Courtyards at Waipouli is being developed as part of a county requirement related to the estimated $1 billion expansion of Kauai Lagoons resort near Lihu'e.
The affordable rental project with one to three bedrooms is slated to be completed in early 2009, with initial units in the 10-building complex opening in fall 2008. Rental applications should be available next summer at the project site at Papaloa Road and Lanikai Street in Waipouli near Kapa'a.
The rentals will be available to those earning 65 percent to 120 percent of Kaua'i's median income, or roughly $40,000 to $73,000 for a family of four.
Another part of the resort's affordable housing requirement is developing 31 for-sale condominiums for first-time homebuyers earning 80 percent to 120 percent of Kaua'i's median income, or about $51,700 to $73,000.
The expansion of the 800-acre resort includes adding 750 condominiums, time-shares and single-family house lots being developed by Kauai Lagoons LLC, a joint venture between a partnership led by local developer Kevin Showe and Marriott Vacation Club International.