HONOLULU, September 13, 2021--(BUSINESS WIRE)--The Residences at Bishop Place, the newest high-rise apartment development in Downtown Honolulu, will be holding a lottery for affordable rental housing units.
To meet the growing demand for rental housing in Downtown Honolulu, Bishop Place, a prominent commercial office building located at 1132 Bishop Street, is being converted to a vibrant new high-rise apartment community. The conversion of this twenty-four story office property into residential units will happen in phases as office spaces are vacated, with the construction anticipated to be completed by January 2024 (subject to change due to construction scheduling).
Applications for the affordable units will be available starting on September 13, 2021. Once fully converted, the property will offer 252 affordable rental units consisting of studio, one-bedroom, and two-bedroom apartments available to households earning eighty percent (80%) and below and one hundred twenty percent (120%) and below of the area median income for Honolulu. The initial phase available for move-in following the lottery will be 20 units. Between November 2021 and February 2022 an additional 26 affordable units are projected to become available.
Applications for the lottery are available at The Residences at Bishop Place Management Office located at 1132 Bishop Street, Honolulu, Hawaii 96813, 9:00 am to 5:00 pm, Monday through Friday. Applications are also available online at https://www.douglasemmett.com/Residences-at-Bishop-Place. Douglas Emmett Management Hawaii, LLC is the Managing Agent.
THE MANAGING AGENT WILL BEGIN ACCEPTING COMPLETED, ORIGINAL APPLICATIONS AT 9:00 A.M. ON SEPTEMBER 27, 2021. THE LAST DAY TO SUBMIT COMPLETED, ORIGINAL APPLICATIONS FOR THE LOTTERY IS OCTOBER 12, 2021 BY 5:00 P.M.
Applicants must hand deliver applications to The Residences at Bishop Place Management Office at 1132 Bishop Street, Honolulu, Hawaii, 96813 between the hours of 9:00 am and 5:00 pm, Monday through Friday. Only applications received by 5:00 pm on October 12, 2021 that meet eligibility requirements to rent an affordable unit will be eligible for the lottery selection for the initial phase of affordable units. Qualifying applicants not receiving affordable units during the initial phase will be added to a waitlist based on their lottery number for future phases of units as they become available. Qualifying applications received after 5 p.m. on October 12, 2021 will also be added to the waiting list in the order in which they are received.
Applicants must be at least 18 years of age at the time of application and meet other eligibility requirements, including income guidelines established by the City and County of Honolulu’s Affordable Housing Program. For more information, please review the application packet.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210913005782/en/