BOSTON CAPITAL ACQUIRES 306-UNIT MULTIFAMILY DEVELOPMENT
KONA, HAWAII — Boston Capital has invested in Lokahi Kax‘u, a to-be-built, 309-unit multifamily development in Kona. The general partner is Hox‘loehua Management LLC, a subsidiary of Allied Pacific Development LLC. The project will feature 90 studios, 108 one-bedroom and 108 two-bedroom units targeting residences at 60 percent or less of the area median income (AMI). Six studios, six one-bedroom and five two-bedroom units will be restricted to tenants at 30 percent AMI. The 10-acre site will consist of 18 three-story, garden-style buildings and offers a community building/pavilion with a kitchen, BBQ area, game tables, exercise space for activities such as yoga and hula, volleyball courts, basketball courts and playgrounds.