$750K grant will be used to preserve apartment complex

A Hawaii nonprofit was awarded a $750,000 grant to preserve a 32-unit apartment complex in Pahoa.

The Affordable Housing and Economic Development Foundation, which supports housing relief for low-income, elderly and handicapped communities, was awarded a grant by the Federal Home Loan Bank of Des Moines and will present that grant to Nani O Puna Apartments on Wednesday.

The grant was awarded as part of the Federal Home Loan Bank Des Moines’ Competitive Affordable Housing Program, wherein member institutions — in this case, First Hawaiian Bank — partner with housing providers to fund low-income housing nationwide.

The grant money will serve to preserve the 32 units of the Nani O Puna apartment complex.

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