The first residents of Kamehameha Schools’ master-planned development in Kaka‘ako will be settling into their new homes soon. Rental applications for Six Eighty, located at 680 Ala Moana Boulevard, became available today from the building’s property manager. The apartments will be affordably priced for median-income workers and will be move-in ready by early November.
Six Eighty is Kamehameha’s first major construction project of its 15-year Our Kaka‘ako master plan. The building has 54 apartments on three floors atop 8,600 square feet of ground floor commercial space.
The former office building was gutted to its concrete shell and converted to 42 studio apartments and 12 one-bedroom apartments. Each comes equipped with stainless steel appliances including refrigerator, electric range and oven, above range microwave, through-the-wall air conditioning unit and water heater. Laundry facilities are located on each floor. The units also feature designer touches like vinyl whitewashed floors, open concept floor plan, stainless steel island in one-bedroom units and 12-foot ceilings. There are also two recreational rooms – a game room and a media room – as well as a recreational deck with barbecue and lounge areas.
“The first residents of Six Eighty are truly the ‘early adopters’ of urban-island living in Our Kaka‘ako,” said Paul Kay, Kamehameha’s director of development in Kaka‘ako. “They are joining a small, but active, hui of entrepreneurs, chefs, artists and innovators who share a strong sense of community and are helping to author Kaka‘ako’s future. We’re excited for our new residents to move in and be part of Our Kaka‘ako.”
Living in Our Kaka‘ako
The 54 apartments at Six Eighty are the first of 2,750 units that Kamehameha expects to be built as part of its 29-acre master plan in Kaka‘ako. In addition to Six Eighty, Kamehameha expects to create a diverse community with a mixture of housing types, including street-level urban townhomes, work-live units and high-rise condominium units – in a range of price points for sale and for rent.
Income and Asset Restrictions
Apartments at Six Eighty are reserved for renters who earn up to Honolulu’s median income. The units fulfill a portion of the Hawai‘i Community Development Authority’s reserved housing requirement for the Schools’ master plan. All renters at Six Eighty are subject to eligibility, income and asset restrictions and must occupy their unit. An eligible renter’s maximum annual adjusted household income must not exceed the amounts set forth in the chart below.
Household Size Maximum Qualifying Income One Person $57,890 Two Persons $66,160 Three Persons $74,430
“Adjusted household income” means the total income, before taxes and personal deductions, received by all members of the prospective renter’s household, including (but not limited to) wages, social security payments, retirement benefits, unemployment benefits, welfare benefits, and interest and dividend payments (but not including business deductions). Also, to be an eligible renter, the renter’s assets must not exceed $72,362 for a family of one person, or $82,700 for a family of two persons, or $93,037 for a family of three persons. “Assets” include, but are not limited to, all cash, securities, and real and personal property at current fair market value, less any outstanding liabilities secured by such assets, and any retirement accounts to assist in unit down payments. Monthly rent for the apartments is based on unit type and ranges from $1,100 to $1,400.
No. of Units Unit Type Permissible Household Size (persons) Monthly Rent 12 Studio Type A 1 to 2 $ 1,225 18 Studio Type B 1 to 2 $ 1,250 6 Studio Type C 1 to 2 $ 1,150 6 Studio Type D 1 to 2 $ 1,100 6 1 Brm Type E 1 to 3 $ 1,400 6 1 Brm Type F 1 to 3 $ 1,363
Applications will be available starting today at the offices of Cirrus Asset Management at 441 Walina Street in Honolulu, as well as online at www.680AlaMoana.com; by email at 680AlaMoana@cirrusami.com; or by phone request at (808) 226-9876. Rental of the 54 apartments will be offered on a “first-come, first-served” chronological basis to prospective renters who meet all requirements and who submit a completed application package. Completed rental application packages will be accepted at Cirrus Asset Management offices beginning October 29, 2012 at 9:00 a.m.
Commercial tenants at Six Eighty
Starbucks Coffee opened at Six Eighty on Friday, September 28. The new store is Starbucks’ first company-owned Hawai ‘i store to open in four years. Kamehameha is currently in lease negotiations for the remaining commercial space at 680 Ala Moana. Announcements on those agreements are expected soon.
About Kamehameha Schools
Kamehameha Schools is a private, educational, charitable trust founded and endowed by the legacy of Princess Bernice Pauahi Bishop. The year 2012 marks the 125th anniversary of the opening of Kamehameha Schools, which today operates a statewide educational system enrolling over 6,900 students of Hawaiian ancestry at K-12 campuses on O‘ahu, Maui and Hawai‘i and 31 preschool sites statewide. Over 40,000 additional Hawaiian learners and caregivers are served each year through a range of other Kamehameha Schools’ outreach programs, community collaborations and financial aid opportunities in Hawai‘I and across the continental United States.