HI -- HUNT, HAWAII PUBLIC HOUSING OFFICIALS INK MASTER DEVELOPMENT AGREEMENT FOR MAYOR WRIGHT PROJECT Pacific Business News – 1/2/2018 American City Business Journals. By Janis L. Magin
Real Estate Editor, Pacific Business News Texas-based Hunt Cos. has signed a master development agreement with the Hawaii Public Housing Authority to redevelop the Mayor Wright Homes public housing project in Honolulu, seen here, into a mixed-income and mixed-use residential development. Tina Yuen Hunt Cos. and the Hawaii Public Housing Authority have signed a master development agreement for the $1.3 billion redevelopment of the Mayor Wright Homes in Honolulu, putting the 2,500-unit project on a path to a groundbreaking by the end of 2019. The agreement was signed on Friday, said Steve Colon, president of Hunt Cos.’ development division in Hawaii. The developer and the public housing agency filed a draft environmental impact statement with the state in September, and the project is also starting to go through the federal environmental process under the National Environmental Policy Act and working on other entitlements. The project, as planned, would replace the existing 364 public housing units on a one-for-one basis while adding 2,136 affordable and market-rate rental units in a complex of buildings that would mix low-rise and mid-rise buildings with up to four towers on the 14.8-acre property, along with 80,000 square feet of commercial space, over a build-out that is expected to take at least 10 years.