Acquired in 2019 In partnership with Honolulu based Stanford Carr Development. Lailani is one of six state-owned low-income rental properties purchased from Hawaii Housing Finance and Development Corp. Built in 1988 the 200-unit 25 building garden style property is located on the Island of Hawaii. All units follow affordability requirements of 120 units at 80% and 79 units at 100% of the AMI. As part of a portfolio wide 85-million-dollar capital improvement plan, the property is currently undergoing extensive rehabilitation of living spaces. Improvements include replacement of cabinets and countertops in the kitchens and bathrooms with new faucets and plumbing connections, new flooring and paint, and new appliances including a refrigerator, range, and exhaust hood. Capital improvements to the exterior buildings and common areas will include replacement of roofs for certain buildings, new exterior paint for all buildings, building siding and stairways.