1427 Ernest St. Honolulu HI 96822

Leasing
·
26 Units Bill 7 Affordable Housing Development
1427 Ernest St. Honolulu HI 96822

Multi-family

Property Type

Built in 2023

Year Built

Street Parking

Parking

5,388 sqft

Lot Area

24

Studios

2

1 Bedrooms

No

2 Bedrooms

In 2021, Oceans Capital LLC embarked on its first foray into affordable housing development. Despite the prior passage of Bill 7, regulatory hurdles persisted, with only two permits in progress at DPP and minimal approvals. Undeterred, we recognized the necessity of assembling a seasoned team to navigate the intricacies of real estate development effectively. Fortunately, we had the privilege of collaborating with the city’s finest Bill 7 development team, comprising a team lead, architect, construction manager, general contractor, attorney, and realtor.

Our meticulous approach to design, undertaken in the face of inflationary pressures, ensured the viability of our debut affordable apartment project. Spanning three stories, our inaugural Bill 7 apartment complex accommodated 24 studios and 2 one-bedroom units.

Completed in November 2023, the project achieved full occupancy within a remarkably short period of approximately 60 days, signaling a real need for affordable housing units.

Features

Air conditioning, Electric

Kitchen open to family room, Disposal

Microwave, Refrigerator, Stove, Washer, Dryer, Microwave Hood, Range with Oven

High Ceilings

3 levels/stories

City

Street Parking

Video Tour

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