Pacifica Honolulu Reserved Housing Units

Applications available for pick-up beginning August 22 at 10:00 A.M.
 
Pacifica Honolulu, the newest residential condominium and retail development on Kapiolani Boulevard in Honolulu, announced that 124 two bedroom, two bath owner-occupant reserved housing condominium residences will be offered for sale. Applications for these reserved housing units will be available from Sunday, August 22 through September 19 at the Pacifica Honolulu Sales Center located at Inspiration in the Honolulu Design Center.
This is only the fourth time in 23 years that a Reserved Housing program has been offered in the Kaka`ako District and represents a very unique opportunity for owner-occupants that qualify. The first time the program was offered was at Royal Capitol Plaza in 1987, followed eight years later by 1133 Waimanu in 1995 as part of the 404 Piikoi Project (Nauru Tower, Hawaiki Tower and Koolani condominium complex). Alexander & Baldwin developed the third project that offered reserved housing as part of the Keola Lai condominium in 2005. 
Pacifica Honolulu’s Reserved Housing Program was established to comply with the State of Hawaii Kaka’ako Community Development District Plan’s requirement that private developers set aside not less than 20 percent of total residential units for reserved housing. The sale prices must be affordable for prospective buyers and their families earning less than 140 percent of the Honolulu area median income ($81,700 for 2010) established by the U.S. Department of Housing and Urban Development. For example, buyers must not exceed the maximum gross qualifying income of $102,125 for a single person, or $114,380 for two or more persons. Income requirement details are provided in the Reserved Housing Application packet.
The program falls under the Kaka’ako Mauka Area Rules administered by the Hawaii Community Development Authority (HCDA). The rules provide guidelines that determine potential buyer eligibility and the documents buyers must complete to secure a place in line to purchase a reserved housing residential unit. Pacifica Honolulu has established the following schedule to assist these buyers:
Sunday, August 22 – 10 a.m. through Sunday, September 19, 2010 – 5:00 p.m.
Reserved Housing Application package available for pick up at:
            Pacifica Honolulu Sales Center
            Honolulu Design Center
            1250 Kapiolani Boulevard, Honolulu, Hawaii
Saturday, September 11–10:00 A.M. through Sunday, September 19, 2010–5:00 P.M.
 Completed Reserved Housing Application package may be returned to the Pacifica Honolulu Sales Center. Prospective buyers with complete applications will receive a number to hold their chronological place for unit selection.
Sunday, September 19, 2010 – 5:00 p.m.
This is the last date to turn in a completed application package in order to be included in unit selection.
Saturday, September 25, 2010 – 10:00 a.m.
Unit Selection Event will take place at the Pacifica Honolulu Sales Office as follows for prospective buyers with the following numbers:
10:00 a.m. – Numbers 1 though 50
1:30 p.m. – Numbers 51 through 125
Sunday, September 26, 2010 – 10:00 a.m.
Unit Selection Event will take place at the Pacifica Honolulu Sales Office as follows for prospective buyers with the following numbers:
10:00 a.m. – Numbers 126 through 175
1:30 p.m. – Numbers 176 through 225
Pacifica Honolulu is a 46-story high rise on 2.3 acres and has a total of 489 residential condominiums, including 365 market residences and 124 reserved housing units. It also has 11,464 square feet of ground floor commercial/industrial space. Amenities include a tailored, sophisticated lobby/library, café-style mail lounge, pool and Jacuzzi, cabanas, urban park with party pavilion, fire pit and six barbecue hale, two state-of-the-art theaters, fitness center, locker rooms and sauna, 24-hour security, private access entry and electronic security in parking garage.
For more information about Pacifica Honolulu, contact Heyer & Associates LLC, exclusive project broker, at (808) 596-8686 or review the website at www.pacificahonolulu.com. The Sales Center is open daily from 10:00 a.m. to 5:30 p.m. at INspiration in the Honolulu Design Center, located at 1250 Kapi’olani Boulevard.