Grant Will Help Build Six New, Affordable, Single-Family Homes in Waimanalo and Papakolea
HONOLULU – Jan. 15, 2021 – Six new, affordable, single-family homes are being built this year in the Waimanalo and Papakolea communities by Honolulu Habitat for Humanity with the support of a $120,000 grant from the Nareit Hawaii Community Giving Initiative.
The $120,000 grant is a result of donations made by REITs in Hawaii to the Nareit Foundation, a section 501(c)(3) organization, which provides the funding for the Nareit Hawaii Community Giving Initiative to support affordable housing projects provided by nonprofit groups.
The six new, single-family homes – five in Waimanalo and one in Papakolea – supported by this grant will range in size from two bedrooms and one bathroom to six bedrooms and 2-1/2 bathrooms. Collectively, the six homes will house 25 residents, with eight residents being over the age of 62 and three under 16 years of age. Two of the homes will be for veteran families. Construction of all six homes is expected to be completed in 9 to 12 months.
Jim Murphy, executive director of Honolulu Habitat for Humanity, said, “Honolulu Habitat is committed to addressing the affordable housing shortage on Oahu. We are honored to have the confidence and support of the Nareit Foundation. Their partnership makes the delivery of our mission possible.”
Nareit Hawaii Executive Director Gladys Quinto Marrone was joined today by International Market Place General Manager Breana Grosz to present the $120,000 grant to Honolulu Habitat for Humanity. International Market Place is owned by Taubman Centers, Inc., a REIT that donated funds to the Nareit Foundation to help make this grant possible.
Marrone commented, “We commend the staff and volunteers of Honolulu Habitat for Humanity as they continue to dedicate their time, effort and energy to build new homes for families in communities where the need for quality, affordable housing is greatest. By this time next year, six families in the close-knit communities of Waimanalo and Papakolea will be living in new homes and solidifying a more secure future for decades to come.”
Also taking part in the check presentation to Honolulu Habitat for Humanity was Honolulu City Council Member Radiant Cordero (District 7). “I want to congratulate Honolulu Habitat for Humanity as the recipient of the grant from the Nareit Hawaii Community Giving Initiative. Mahalo to the Initiative and Taubman Centers, Inc. for their investment and support of so many organizations that serve our island home. Not only will the grant be used to allow a place for neighbors to call home, Honolulu Habitat for Humanity is creating better connected communities and giving neighbors the opportunity to thrive.”
Honolulu Habitat for Humanity
Honolulu Habitat for Humanity applications are reviewed by Honolulu Habitat’s Family Selection Committee, using the selection criteria in a way that does not discriminate on the basis of race, sex, age, ability, religion, national origin, family status or marital status, or because all or part of income is derived from any public assistance program.
Habitat homes are sold, not given, to approved homeowner applicants. Homeowners pay zero-interest monthly mortgage payments toward the full ownership of their homes. Moving into and owning a Honolulu Habitat home improves the quality of life for its residents, not only in the physical surroundings but also by instilling a sense of pride and responsibility that comes with homeownership.
Honolulu Habitat develops each home project relying on volunteers, local businesses and contractors to receive in-kind donations of material and labor in order to reduce the overall cost.
Nareit Hawaii Community Giving Initiative
Funded by the Nareit Foundation and REITs operating in Hawaii, the Nareit Hawaii Community Giving Initiative is committed to supporting affordable housing projects provided by nonprofit organizations. Since its formation two years ago, the charitable giving program has awarded more than $1-million in grants to help with the building of affordable homes in communities throughout the state.
REITs are long-term property holders that own, renovate and manage affordable housing projects, commercial buildings, medical facilities, shopping centers, cell phone towers, public storage facilities, and hotels in Hawaii.
Applicants Sought for Affordable Housing Grants in 2021
The Nareit Hawaii Community Giving Initiative encourages other qualified organizations in Hawaii to submit applications to be considered for grants supporting affordable housing projects in 2021.
Applicants should be implementing projects that provide affordable housing for sale or rent. Grant funds are not intended for planning and will only go to organizations with “shovel-ready” projects or to make land purchases for such projects.
All applicants must fill out the electronic application form found on the Nareit Hawaii website at http://www.nareithawaii.com/reits-give-back/ and submit it via e-mail to email@example.com.
For more information about REITs in Hawaii and the Nareit Hawaii Community Giving Initiative, please visit www.nareithawaii.com.
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