Press Contact: Dawn O’Brien
FOR IMMEDIATE RELEASE:
DUKE AIONA ANNOUNCES PLANS TO REDUCE AFFORDABLE HOUSING SHORTFALL BY 91%
HONOLULU (July 15, 2014) – After meeting with community leaders including builder and nonprofit representatives, Duke Aiona released today a streamlined plan to address the affordable housing emergency in Hawai‘i.
“In Hawai‘i, tens of thousands of residents, including teachers, firefighters, retail and restaurant workers are cost burdened with housing. My plan reduces the affordable housing shortfall by 91% within seven years without raising taxes on any of Hawai‘i’s residents or businesses,” said Aiona.
“I know the legislature sees affordable housing as a priority, so I look forward to working with them to accelerate the availability of affordable rentals throughout Hawai‘i,” said Aiona.
By dedicating a full 25% of corporate tax income revenues to the Rental Housing Trust fund, within seven years, an estimated 19,500 people will have stable, affordable housing, even when they are not able to buy a home. The need for rentals is urgent for those unable to save for a home at market rates where the average home is $700,000.
Underscoring the need for affordable rentals, Aiona said “For those on fixed incomes, who must decide whether to pay rent or pay for medicine, families who must choose between fresh food and rent, and those just starting out in their careers burdened with student loans, these properties will provide stability by remaining affordable for over sixty years.”
Aiona’s plan will be made more efficient by utilizing existing state lands and innovative modular building materials. “We can get families into these units faster and more efficiently by decreasing the cost of building and reducing red tape for builders.”
Reflecting on personal stories he has heard from Hawai‘i residents, Aiona said “I’m proud to be the only candidate who is developing new solutions for this community.”