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Investors - JULY 7, 2023

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Highridge Costa to build more than 10,000 affordable rental units in Hawaii

by Denise Moose

The Hawaii Public Housing Authority (HPHA) announced that Highridge Costa Development Co. will complete the redeveloping part of the state’s public housing inventory in multiple phases and create more than 10,000 affordable housing units for nine properties throughout the state. This effort is called the Ka Lei Momi Redevelopment Project and its vision is to replace and create housing units for extremely low-income individuals, families and workforce employees.

“The Ka Lei Momi Project is the start of our journey to revitalize multiple communities within our public housing inventory,” said Hakim Ouansafi, executive director at HPHA. “Redevelopment presents an exceptional opportunity to close the gap between the need and supply of affordable housing in Hawaii while also transforming our existing low-density public housing properties into modern, mixed-use, mixed-income, transit-oriented communities. The only option to serve the waitlists and give choices to our r

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