Hawaii Real Estate Investment Trusts Donate $100,000 to NāHale O Maui Community Land Trust to Build Affordable Housing
Funds from The REIT Way Hawaii Community Giving Campaign to assist with construction of homes for 12 West Maui families in Kahoma Residential Subdivision
KAHULUI (January 14, 2019) – Representatives from the REIT Way Hawaii Community Giving Campaign presented a $100,000 donation to Na Hale O Maui to develop affordable housing in West Maui.
The donation will go toward the construction of 12 new permanently affordable homes in the Kahoma Residential Subdivision located in Lahaina. Once completed, the 100 percent workforce housing community will consist of 68 homes and feature a large neighborhood park.
“We fully support the vision of NāHale O Maui,” said Christopher White, Senior General Manager of Whalers Village, a REIT property owned by Brookfield Properties Retail Group. “The people who live and work in West Maui need affordable equality homes in a community providing up-to-date amenities.”
“This donation from the REIT Way Hawaii Community Giving Campaign marks a significant step toward leveraging funds for the construction of 12 truly affordable homes for income-eligible families living or working in West Maui. Na Hale O Maui homes remain affordable in perpetuity, and never go to market,”said Cassandra Abdul, NāHale O Maui’s executive director.
Over the next three years, the REIT Way Hawaii Community Giving Campaign will continue investing in forward-thinking initiatives, like NāHale O Maui, creating more affordable housing options throughout the state.More than a dozen Hawaii real estate investment trusts are funding the campaign through the Nareit Foundation, a 501 (c)(3) organization.
“Affordable housing should be more than a dream for Maui families,” said Fred Findlen, General Manager of the Hyatt Regency Maui Resort and Spa, a REIT property owned by Host Hotels and Resorts. “We’re honored to be here supporting Na Hale O Maui’s mission to increase affordable housing here on Maui.”
REITs are long-term property holders that own and manage commercial buildings, medical facilities, residential housing, hotels and entertainment venues throughout Hawaii. You can learn more about The REIT Way Hawaii Community Giving Campaign at thereitwayhawaii.com.