Imi Ikena

Overlooking the Pacific Ocean this crown jewel of Maui is providing some relief to the affordable housing crisis that exists in Hawaii.

Imi Ikena Apartments is a 4-story 28-unit new construction affordable rental housing community located in the town of Wailuku on the island of Maui. Unit amenities include washer/dryer, patio, and a fully equipped kitchen with range/oven, refrigerator, garbage disposal, dishwasher, and microwave.

The sustainable building methods being incorporated into the design and construction include Energy Star® appliances, HVAC equipment, lighting and water heaters. In addition a Solar Hot Water system preheats all hot water throughout Imi Ikena.

Financial support was provided by the County of Maui through a soft $2,750,000 residual receipt loan and the State of Hawaii contributed $2,069,000 in State Tax Credit Exchange Proceeds. The building fully occupied in less than 10 days after construction completion and there are approximately five hundred households on the waiting list.

Completion Date – June 2000
Con Schedule – Yes
Architect – R+SDA
Engineer – Rick Engineering
General Contractor – Tony Wanket Const.
Other Financing – SDHC
Location – San Diego, CA
Total Project Costs – $5 million
Number of Units – 40
Start Date – August 1998
Construction Lender – US Bank
Tax Credit Investor – Boston Capital