Building Offers Affordably Priced Condos For Local Residents
Filling the critical shortage of affordable housing in urban Honolulu, 801 South St Building B, a residential condominium project planned for the corner of South Street and Kapiolani Boulevard, began offering units for sale this weekend.
The condominiums will be conveniently located in Kakaako near schools, shops, restaurants, medical offices and hospitals. Many sites are comfortably within walking distance or easily accessible by public transit.
The 46-story tower will include the following residential mix:
* 92 one bedroom, one bath units
* 1 two bedroom, one bath unit
* 90 two bedroom, one-and-a-half bath units
* 182 two bedroom, two bath units
* 45 three bedroom, two bath units
One- and two-bedroom units are priced between $352,000 and $555,000, while three-bedroom units are listed between $617,000 and $699,000. Building B is designed with larger-sized bedrooms than those in Building A, the first tower. All 410 units will be fee simple.
The project also includes a 10-story parking garage that will provide 788 parking stalls, including 30 guest parking stalls.
PRICED FOR WORKING FAMILIES ON OAHU
Built for safety, security and functionality, the 410 units of 801 South St will be priced and sized for Hawaii residents. Because costly amenities like swimming pools are not planned for the building, monthly maintenance fees are lower than other new developments.
Owner-occupant households with 140 percent or less of the area median income will be given a preference to purchase 308 of the 410 residential units in the project. Prospective buyers can now pick up sales packets and submit eligibility applications to be entered into a public lottery.
Investors may purchase thereafter. When units for 801 South St Building A went on sale, more than 6,000 applications were distributed to prospective owner occupants and 600-plus units sold out with the lottery.
The condominiums offer a high level of security. The residential areas in the tower and the ground floor of the parking garage elevator lobby are accessible only by residents with an authorized electronic key. Visible security and management offices at the entry to the tower lobby, together with well-lit grounds and walkways, contribute to the security of residents and guests.
Building B of 801 South St is designed with sustainability features and energy-efficient systems to reduce the cost of operations and maintenance. The following features are included:
* Operable windows and lanai doors for natural ventilation
* Split air-conditioners in each apartment to minimize power consumption
* Double pane glass exterior windows and doors to diffuse radiant heat and reduce noise
* Energy-efficient appliances and lighting throughout the building
* LED lighting for the parking garage and common areas
* Electric vehicle charging station connectivity in the parking garage
* Video surveillance throughout the property to complement 24/7 security-guard service
The project’s convenient location, affordability and sustainable features offer Hawaii’s middle class working families a much-needed housing opportunity in urban Honolulu.