Kamakoa Housing Relying Upon Fannie Mae?

Craig Dougall from the New Kamakoa Housing Development made a comment recently on my post, Kamakoa: Affordable Housing Based Upon Priority Categories?

At the end of his comments he states:

“…But, at the end of the day although their are priority categories, everyone is eligible, regardless of employment or income…”

I find it interesting that according to Kamakoa’s own mission statement:

…Using current data compiled about the median incomes of our Hawaii workforce, Waikoloa Workforce Housing, LLC, in partnership with Hawaii County, local lenders and Fannie Mae, has created an affordability formula that will now make home ownership a tangible reality for our local workers…

Geez… Isn’t Fannie Mae in a bit of troubles these days, and they are still going through with this project anyhow?

One Response

  1. Actually they backers of this project are terminating
    it after the initial 125 homes are completed.

    http://www.westhawaiitoday.com/articles/2008/08/13/local/local01.txt

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