The approximately 12.3-acre site is being developed by Brown Development LLC in partnership with Lincoln Avenue Communities, a nationally recognized affordable housing developer. Together, the team is focused on delivering high-quality, long-term affordable housing that meets the needs of local residents while supporting a strong and well-connected community.

Lincoln Avenue Communities brings extensive experience to the project, including:

• Development and ownership of 150+ communities and more than 27,000 homes nationwide

• A strong track record with Low-Income Housing Tax Credit (LIHTC) financing

• Proven expertise in long-term ownership and affordability compliance

Brown Development serves as master developer, overseeing land, entitlements, and infrastructure, while Lincoln Avenue Communities will develop, own, and operate the designated affordable housing buildings assuring long-term affordability and professional property management.

Community Overview

At full buildout, Waikoloa Village Affordable Apartments will include:

• Seven identical four-story residential buildings

• 329 rental apartment homes

• Elevator-served buildings with interior corridors

• Surface parking, shared infrastructure, and community amenities

The community is designed as a cohesive, walkable neighborhood that supports long-term residency and everyday living.

Homes Designed for Local Residents

Each residential building includes 47 apartment homes, offering a mix of layouts to serve individuals, families, seniors, and workforce households. Apartment options include:

• Studio apartments

• One-bedroom apartments

• Two-bedroom apartments

All homes are designed for long-term living and are located within walking distance of essential services and community resources.

Meeting a Critical Housing Need

Waikoloa Village and the greater West Hawaiʻi region continue to experience a significant shortage of affordable rental housing. Existing affordable communities report extremely low vacancy rates and long waiting lists, particularly for local workers, service employees, families, and seniors.

Waikoloa Village Affordable Apartments is designed as a long-term affordable rental community, helping meet local housing needs while supporting employment centers throughout the Kohala Coast and Kona regions.

Initial Affordable Housing Phase

The initial phase of affordable housing includes three of the seven residential buildings (Buildings B3, B5 and B6), delivering 141 affordable apartment homes. These buildings are fully integrated into the overall community and share access, parking, infrastructure, and amenities.

Homes will serve households earning approximately 30% to 80% of Area Median Income (AMI), with a weighted average affordability of about 60% AMI, supporting a broad range of local workforce households. This phase is planned as family rental housing and will be financed using 4% LIHTC, subject to program approvals.

Development Timeline

The project is advancing on a clear and achievable schedule:

• LIHTC Application Submission: February 2026

• LIHTC Awards: October 2026

• Construction Start: March 2027

• Anticipated Completion: Fall 2028

With entitlements in place and site work underway, Waikoloa Village Affordable Apartments is well positioned to deliver new affordable housing on a near-term timeline.