The city is now one step closer to selling its 12 rental housing complexes to a private company.
Mayor Carlisle announced today that the city has entered into the formal contract negotiation phase with Honolulu Affordable Housing Partners.
Under the leasehold purchase and sale agreement, the company would pay the city $142 million and would spend $42 million on renovations.
The lease agreement would last 65 years. Notices about the sale’s status have been posted at the housing complexes.
See the original article at: KHON2 Developing Stories
