Nareit Hawaii awards $300K in housing grants

HONOLULU (AP) — A national organization for real estate investment trusts has awarded $300,000 in grants to two Hawaii organizations: Honolulu Habitat for Humanity and Hale O Hawaii.

Nareit, which administers the Nareit Hawaii Community Giving Initiative, granted $120,000 on Friday to Honolulu Habitat for Humanity that will help build six affordable single-family homes, including five in Waimanalo and one in Papakolea, the Honolulu Star-Advertiser reported.

The homes, which will range in size from two bedrooms and one bathroom to six bedrooms and two and a half bathrooms, are expected to house 25 residents, including two veteran families, eight residents over the age of 62 and three residents under 16, officials said.

Construction is scheduled to be completed within a year.

Nareit previously gave Hale O Hawaii a $195,000 grant to buy an acre of land to build an affordable home in Puna for a family who was displaced by the 2018 Kilauea Volcano eruption, officials said.

The new home is expected to be least 1,175 square feet (110 square meters) with two bedrooms, one and a half bathrooms and a covered carport. The grant also allows Hale O Hawaii to buy property in Hawaiian Paradise Park.

Construction is scheduled to begin later this year.

Nareit, a member of the Chamber of Commerce of Hawaii, owns more than $11 billion in real estate in the state, according to its website.


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