(BIVN) – The third phase of the Mohouli Heights Senior Neighborhood project in Hilo has begun.

The Hawaii Island Community Development Corporation (HICDC), a Hilo-based 501(c)(3) non-profit organization, announced the start of construction in a media release issued Tuesday. The organization says the third phase, when finished, will provide 92 affordable units for low-income seniors 62 years and older who qualify for Section 8 rental assistance.

The 60-unit first phase of the Mohouli Heights Senior Neighborhood project was completed in late 2013 at a cost of $19.5 million and followed by a 30-unit second phase in 2016. When phase three is finished, the complex will have a total of 182 low-income senior rentals. The complex also includes the recently completed 19,000 square foot Harry and Jeanette Weinberg Adult Day Center that was developed through a unique partnership between the Hawaii Island Community Development Corporation and the Hawaii Island Adult Care, Inc.

According to the news release:

The Mohouli Heights Senior Neighborhood project is being developed through a collaboration between the State of Hawaii, County of Hawaii, HICDC and banking partners Wells Fargo Bank and Bank of Hawaii. The project has been awarded Low Income Housing Tax Credits and a low interest loan from the State Housing Finance and Development Corporation. The 5.4-acre project site is leased from the County of Hawaii for a nominal $10 per year. Total development cost for the project is projected to be $38 million and the project is slated to be completed in Fall 2020.

“Our mission at the Hawaii Island Community Development Corporation started over 25 years ago with a dedicated group of volunteers who wanted to help provide needed housing on Hawaii Island for elderly and low income families. With the completion of this third phase of the Mohouli Senior project we will have completed over 700 affordable housing units in Hilo, Puna, Hamakua, Waimea, Kohala and Kona and provided housing security for those in need,” said HICDC Executive Director Keith Kato in a written statement.

HICDC says applications for prospective phase three tenants will be taken in April 2020 by the County of Hawaii’s Office of Housing and Community Development. A notice will be published at that time explaining how and where to apply.