California-based developer Franco Mola’s MJF Development Corp. plans to start construction in August on a 180-unit, 12-story condominium in Honolulu’s McCully neighborhood, according to the project’s final environmental assessment.
The 113,600-square-foot project at the corner of Pumehana and Algaroba streets will include studios and one- and two- bedroom units. Prices will start at $236,250 for the studio units.
MJF Development is working with the Hawaii Housing and Finance Corp. to apply for financing.
The project is being designed to fall within the price ranges for affordable housing.
The developer expects to complete the project at 929 Pumehana St. in August 2017, according to the environmental assessment.
Duane Shimogawa Reporter – Pacific Business News