Hawaii Real Estate Investment Trusts Provide Foundational Donation for Puʻuhonua O Waiʻanae to Secure Permanent Location
$150,000 gift from the REIT Way Hawaii Community Giving Campaign to assist with land acquisition
WAIʻANAE (December 14, 2018) – Today, the REIT Way Hawaii Community Giving Campaignpresented a $150,000 check to Pu‘uhonua o Wai‘anae, Hawaii’s largest and oldest community for families experiencing homelessness.
Today’s donation, which is being matched dollar for dollar through a challenge grant, marks a major milestone in the fundraising campaign to assist Pu‘uhonua o Wai‘anae’s effort to purchase property and install the needed infrastructure for its new location.
“We are excited to have an opportunity to contribute to this remarkable project,” said Francis Cofran, Senior General Manager of Ala Moana Center, a REIT property owned by Brookfield Properties Retail Group. “Puʻuhonua O Waiʻanaeʻs vision is an innovative way to create affordable housing options forHawaii residents who need it most, which serves our main mission of the REIT Way Hawaii Community Giving Campaign.
”The encampment, located near the Waianae Boat Harbor, currently has over 200 residents. Since its inception, village leaders have been working on a design that would create permanent housing structures around various shared spaces. After more than a decade, the residents of Pu‘uhonua o Wai‘anae are working to raise $1.5 million in financial support to bring their dreams into fruition.
“We hope Puʻuhonua O Waiʻanae can provide a community-based model for providing safety and healing,” said Twinkle Borge, village leader. “With this support from the REIT Way Hawaii Community Giving Campaign, we are taking a big step toward fulfilling our visionand to provide a permanent location for people who need shelter and support.”
“The residents of this community, young and old, deserve a safe space to live, learn and enjoy the basic amenities many of us often take for granted.” said Fred Findlen, General Manager of Hyatt Regency Maui Resort and Spa, a REIT property owned by Host Hotels & Resorts. “We’re proud to be able to support this cause.”
The REIT Way Hawaii Community Giving Campaign, which consists of more than a dozen of Hawaii’s real estate investment trusts, or REITs, are currently funding the campaign through the Nareit Foundation, a 501(c)(3)organization. The multi-year effort is focused on increasing access to affordable housing throughout the Hawaiian Islands.
“It’s gratifying to see the REITs operating in Hawaii taking a pro-active role in housing accessibility, especially housing for our island’s homeless population,” said Marc Alexander, Executive Director for the Mayor’s Office of Housing.
REITs are long-term property companies that ownand manage commercial buildings, medical facilities, residential housing and hotels, as well as retail and entertainment destinations throughout Hawaii. For more information about the REIT Way Hawaii Community Giving Campaign, please visit thereitwayhawaii.com.
