Brookfield Properties Unveils the Name of its New Rental Project, Līlia Waikīkī, and Extends Affordability Period of its Affordable Rental Program

Līlia Waikīkī will provide 20% of its units at 80% AMI for 30 years

OliverMcMillan’s latest mixed-use rental housing development will be called Līlia Waikīkī. Located on the corner of Kūhiō Avenue and Kānekapōlei Street on land owned by the Queen Emma Land Company, the name honors the life and legacy of Queen Emma, and her favorite flower, the lily (līlia).

With a love of gardening and being outdoors, Queen Emma’s mea kanu (plants) flourished on her lands. Her journal entries are filled with descriptions of the plants and flowers surrounding her home, including the lily pond at her Waikīkī residence in Kaluaokau.

“We are honored to be able to build a project that she would be proud of,” said Dene Oliver, CEO of OliverMcMillan. “It’s truly a special opportunity to be able to bring this much needed rental product offering to Waikīkī under a long-term ground lease that will preserve Queen Emma’s legacy lands and further the mission of Queen Emma Land Co. and The Queen’s Health Systems to provide quality health care in Hawaii.”

Through thoughtful design and programming reminiscent of the cultural and historical significance of the area, Brookfield Properties hopes to inspire its residents to live the life they love at Līlia Waikīkī.

“The causes championed by Queen Emma during her lifetime will be honored at Līlia Waikīkī and demonstrated through a series of cultural themes established to enhance the experience,” said Kris Hui, director of development at OliverMcMillan. “Her passion for the environment, for wellness and practicing and preserving culture in a contrasting changing world will be illustrated throughout the project.”

Targeted for completion in mid-2021, the proposed new 28-story, 285-foot mixed-use high-rise rental apartment project includes 455 new rentals and 42,600 square feet of retail space on two-levels, anchored by a full-service grocer.Despite no affordable housing requirement tied to the development, Brookfield Properties is offering 20% of the units (91 units) priced at 80% of area medium income (AMI) – a housing level that has been historically unserved in both new for-sale or rental housing redevelopment in Honolulu. To meet the projected housing demand, the State reports that 70% of the housing needed by 2025 is for households earning 80% or less of the AMI.

To go one step further, Brookfield Properties worked with their local district Councilmember Trevor Ozawa to extend the affordability period of these units from 15 to 30 years.

 

“Hawai’i is faced with a housing crisis and we feel that rentals are a part of the housing solution,” said Kris Hui. “Councilmember Ozawa encouraged us that providing 91 units of 80% AMI housing despite no affordable housing mandate is an extremely rare opportunity. We wholeheartedly agreed and are excited to be able to commit these 91 units to a 30-year affordability period to ensure that our 80% AMI rentals can remain available and affordable for local people to call home for decades to come.”

The Department of Planning and Permitting will host a public hearing this morning for OliverMcMillan’s mixed-use project, Līlia Waikīkī.

The project has submitted and finalized its Environmental Assessment and received a Findings of No Significant Impact (FONSI). Brookfield Properties is pursuing a Planned Development – Apartment (PD-A) and Waikiki Special District (WSD) permit from the City and County of Honolulu under and pursuant to Section 21-2.110-2 and 21-9.80.4(d) of the Revised Ordinance of Honolulu (ROH).

To deliver this housing opportunity to those working in Waikīkī and neighboring areas, Līlia Waikīkī is requesting to increase the allowable density of the combined parcels from 1.9x to 3.0x FAR (floor-area-ratio). Allowable under the PD-A process, this modification is being requested as part of the developer’s application submittal. While the PD-A process allows for a 350 feet maximum height limit, Līlia Waikīkī is proposing to build only up to 285 feet, a 25-foot increase above its existing height limit of 260-feet.

The proposed 455-unit project includes the full renovation of 53 low-rise rental units located in four existing apartment buildings on the Diamond Head side of Kānekapōlei Street and 402 rental units located in a new 285-foot tower. The tower and podium will be built with a mauka to makai orientation, matching the scale and orientation of adjacent buildings in the neighborhood, and the existing banyan tree will be preserved.

The 91 affordable units offered to households earning no more than 80% AMI will consist of 38 studios averaging 385 sf, 44 one-bedrooms averaging 500 sf and 9 two-bedroom apartments averaging 900 sf.

 

 

 

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