Private company to buy rental buidlings
HONOLULU - Honolulu Affordable Housing Partners LLC will purchase the city's 12 affordable housing complexes.
Mayor Peter Carlisle announced Wednesday that the private company has been selected to complete a leasehold purchase agreement for the rental housing. Earlier this year, the city released a request for proposals seeking a buyer to purchase the complexes and lease the land under them for 65 years.
The 12 apartment complexes include low-income and market rate rental units. The buyer will operate, manage and maintain the units.
Details of the purchase and sale agreement will soon be negotiated. The agreement requires city council approval.