New Lahaina ApartmentsNew Lahaina Apartments Land clearing got underway in Lahaina this week in preparation for construction of 112 apartment units for lower income families. Eight two-story apartment buildings are to be constructed on a 4.4-acre lot at the northwest corner of Wainee and Baker Sts., near the Lahaina elderly housing. The apartments are being built, and will be owned, by Quality Pacific Ltd. of Honolulu. They will be rented under the FHA 236 rent subsidy program. The land was sold by Amfac to Quality Pacific. The sale price, according to the State Tax Office, was about $284,000. Estimated value of the buildings, according to County building permits taken out by Quality Pacific, is $1.2 million. The first units are expected to be ready for occupancy in August. The project will include 22 one-bedroom units with approximately 512 square feet each, 76 two-bedroom (704 square feet) and 14 three-bedroom (885 square feet). Amfac indicated that FHA rental prices should be somewhere around $129 per month for one-bedroom, $144 for two-bedroom and $166 for three-bedroom.
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