Liliha - Kapalama, Hawaii
100 N Beretania St, Suite 114
Honolulu, HI 96817
(808) 384-3388

What Is Bill 7? October 9, 2019

Liliha - Kapalama, Honolulu
What Is Bill 7?, Honolulu, Hawaii

Bill 7 is a hot topic in Honolulu right now. Recently signed by the mayor, the measure is intended to spur new, affordable housing developments throughout the city. It could also provide interesting opportunities for those who currently own property around the city. If you own a home or a residential lot, here’s a rundown of the basics you need to know about this bill and how a residential architect and builder can help you make the most of it.

What Does Bill 7 Do?

residential architectBill 7 provides incentives for those who own properties of 20,000 square feet or less to develop affordable rental units on that land. Incentives include waiving zoning regulations like building heights and permit applications, along with a 10-year waiver on property taxes.

To qualify, the property must be in an apartment or business mixed-use zone. Additionally, at least 80% of the units must be offered at prices deemed reasonable for those at median federal income levels.

What Does It Mean for Property Owners?

If you currently own property in Honolulu, this bill could make building rental units easier and more affordable. If your property qualifies, you won’t have to jump through as many hoops or adhere to as many building and zoning guidelines, and you would receive tax breaks. By working with a qualified residential architect, you can construct affordable units that help the city solve its housing crisis while earning a tidy income.

 

If you’re interested in exploring the possibilities that Bill 7 offers, contact Prowork Pacific Inc. The residential architects will help you design or plan your property expansion. Specializing in luxury house design and custom home remodeling projects, the team serves residents and business owners throughout Oahu. They also provide third party reviews for those who have the planning done by another company. To see examples of their work, visit the portfolio on the company’s website. To discuss your project with a residential architect, call (808) 384-3388.

Other Announcements, Events and Deals from Prowork Pacific Inc
3 Home Remodeling Tips for Multigenerational Families, Honolulu, Hawaii
With the average life expectancy on the rise, and economic uncertainty making it harder for younger generations to achieve financial independence, multigenerational homes have become...read more
What Are Third-Party Reviews for Custom Home Building?, Honolulu, Hawaii
When you want to create the perfect home for you and your loved ones, hiring a custom builder will help ensure your vision becomes a reality. But before your custom house can be buil...read more
3 Ways to Prepare for Your Home Addition, Honolulu, Hawaii
A home addition is an excellent way to get your dream home to grow with your family's space needs. While all construction is challenging for homeowners, you can reduce the inconvenie...read more
Check Out Prowork Pacific's New YouTube Channel, Honolulu, Hawaii
Building a home from the ground up requires comprehensive knowledge about everything from building permits to architectural design. As luxury house design experts, Prowork Pacific In...read more
How to Keep Your Pet Safe During a Home Renovation, Honolulu, Hawaii
Planning for a home renovation can seem like a long list of to-dos, from selecting fabrics to meeting with contractors. However, you can take comfort in the fact that you know what’s...read more