Parkway Village Breaks Ground in Kapolei - September 2023
Parkway Village at Kapolei, a mixed-use development that will create 405 affordable rental units and two on-site preschools, is set to begin construction following a groundbreaking ceremony held on Tuesday, September 19, 2023.
The $199 million project is being developed by Kobayashi Group and Āhē Group in partnership with the City & County of Honolulu, Hawaiʻi Housing Finance and Development Corporation (HHFDC), CREA LLC, and Bank of Hawaiʻi. Parkway Village will be built on City-owned land and received HHFDC financial assistance in the form of a $36 million Rental Housing Revolving Fund Loan, $112 million in Low-Income Housing Tax Credits (LIHTC), and $98 million in Hula Mae Multi-Family Tax-Exempt Bonds.
Parkway Village will consist of studio to four-bedroom rental units for tenants earning 30-60% of the Area Median Income (AMI). Rents will start at $597 for a studio at 30% AMI to $2,123 for a four- bedroom unit at 60% AMI. Units range in size from 344 to 1,305 square feet. Approximately 641 parking stalls, 10 laundry room facilities, and three recreation rooms will be available for tenants.
Parkway Village will include six preschool classrooms, expanding opportunities for early education in West Oʻahu. The preschools will be operated in partnership with Kamehameha Schools and Partners in Development Foundation.
“Parkway Village serves as an example of the government and the private sector collaborating to benefit O‘ahu families,” said Honolulu Mayor Rick Blangiardi. “Affordability is multifaceted and that’s why it’s important that Parkway Village, which will house 405 families, not only creates affordable rental housing, but also addresses a gap in access to early childhood education by partnering with Kamehameha Schools and Partners in Development to operate six preschool classrooms. We are creating opportunities for our keiki to thrive in school and in life in this community. Solving our affordability crisis is incredibly complicated and it requires great partners on a number of levels to produce this kind of result.”
“We build communities by empowering our local families with neighborhoods that provide essential services for their well-being,” said Lieutenant Governor Sylvia Luke. “Early education is a crucial component, and I would like to mahalo all the partners for their foresight in bringing this project to life, fostering spaces that nurture a vibrant and resilient community.”
“This project shows us once again that the key to developing badly needed affordable housing in Hawaiʻi lies in partnerships such as this one – where the state, the city and private developers combine their resources,” said HHFDC Interim Executive Director Dean Minakami. “We applaud the Kobayashi Group and the Āhē Group for bringing these partners together.”
“Today’s groundbreaking marks the start of a project that, when completed, will be a vibrant home to more than 400 families and expand access to high-quality early education in West Oʻahu,” said Patrick Kobayashi, Kobayashi Group President & CEO. “We are honored to continue our work to build affordable housing for Hawaiʻi families.”
Āhē Group CEO and President, Makani Maeva, added, “Parkway Village at Kapolei represents so many things in which the Āhē Group believes; safe, decent, and affordable housing sustainably built for a changing environment. In an era where people define themselves by what they are against, we are proud to showcase so much of what we are unwaveringly for in this project.”
The Parkway Village development team includes Design Partners Incorporated, Coastal Construction Co., Inc., Jayar Construction, Inc., Sato & Associates, Structural Analysis Group, Mechanical Enterprises, Inc., Ronald N.S. Ho & Associates, Coffman Engineering, Walters Kimura Motoda, and Technology Group. Parkway Village is expected to complete construction in Fall 2025.