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HCDA closes on 586 South Street parcel; $34 million budgeted for supportive housing planning and construction
Summary
HCDA staff reported the agency closed on a vacant parcel at 586 South Street on April 29 and said the state budget includes $34 million over two years for planning, design and construction of supportive housing on the site.
The Hawaiʻi Community Development Authority said on May 7 that it has closed on a vacant parcel at 586 South Street in Kakaʻako and will pursue development of supportive or affordable housing on the site.
Executive Director Craig Nakamoto told the Kakaʻako Authority that HCDA closed on the property on April 29 and now owns the site. “We closed on April 29, and so we own the property,” Nakamoto said.
Nakamoto said the FY26 state budget (referred to in the meeting as HP 300) includes $34,000,000 over two years for planning, design and construction of supportive housing tied to the parcel. HCDA staff said the agency will use part of those funds to perform necessary predevelopment work, including an archaeological inventory survey and an archaeological monitoring plan, to prepare the site for solicitation of a developer.
Why this matters: The acquisition adds a centrally located parcel to HCDA’s inventory that staff said has been vacant for a long time and could be used to site supportive or affordable housing in the urban core.
Nakamoto said staff will provide further updates and expects to present additional information at the next HCDA meeting about how the agency intends to select a developer.
No action or vote occurred; the item was presented as an informational update.
