On Dec. 19, the Nareit Hawaii Community Giving Initiative, with the support of Nareit Foundation and REITs in Hawaii, awarded a $195,000 grant to Hale O Hawaii. The grant goes toward the purchase of a one-acre lot, in the Puna area of Hawaii Island, and construction of a new, affordable home for a family displaced by the 2018 Kilauea volcano eruption.
As a community land trust, homes built by Hale O Hawai‘i remain affordable in perpetuity even if they are resold to new owners, who must meet the qualifications for ownership. Construction is expected to begin in mid-2021.
Gladys Quinto Marrone, executive director for Nareit Hawaii, said, “We admire Hale O Hawai‘i for their commitment to make affordable housing more accessible and are proud to be their partner and provide our support. A family whose life was upended by the Kilauea eruption will soon have a new home all their own. What a beautiful way to celebrate the holidays and welcome in the new year.”
The Nareit Hawaii Community Giving Initiative of the Nareit Foundation, a section 501(c)(3) organization supported by REITs that invest in Hawaii, is dedicated to supporting forward thinking programs that are creating affordable housing solutions and improving the quality of life for families statewide.
(Contact: Gladys Quinto Marrone at gmarrone@nareit.com)