The City and County of Honolulu presented an honorary certificate to the developer of an affordable housing project in the Ala Moana area on Nov. 15.
The honors went to Samkoo Pacific, LLC for their recently completed Kapiolani Residence, a 484-unit condominium at 1631 Kapiolani Blvd.
The 45-story building won Samkoo Pacific and its President Timothy Yi the 2020 Grand Prix of Real Estate Award.
Yi says that his project can act as an architectural beacon for the rest of the world.
“Clearly this project demonstrated as a model to be a good affordable housing, not only for Hawaii and not only in the United States, but throughout the world.” Samkoo Pacific President Timothy Yi
The project contains studios, including one-, two- and three-bedroom fee simple units. A total of 262 units are designated as affordable and are reserved for qualified Hawaii residents.
Affordable unit prices start at $272,000, and 192 units are market-priced.