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PROPERTY MANAGEMENT |
Besides residential development, Mark Development has property management operations and has managed up to nine rental
projects on the islands of Oahu, Hawaii, and Kauai. Projects are typically equipped with an on-site resident manager and
maintenance crew. Besides regular management duties, Mark Development also plans and implements all capital improvements for
its projects. Mark Development’s property management staff has been trained and certified by the National Center for Housing
Management (NCHM) and Spectrum, Inc. MDI is computer automated in tenant and accounting information and has responded to
new regulations set forth by the Department of HUD. MDI is on-line in submitting their HUD 50059, Tenant Certification forms, to
the TRACS Central Processing Facility via high speed on line connection. All projects are or were subsidized under various
Federal/State programs (FmHA 515, FmHA “Deep Subsidy”, FmHA/Section 8, HUD Section 8, HUD 236 and LIHTC programs).
Current properties managed include:
projects on the islands of Oahu, Hawaii, and Kauai. Projects are typically equipped with an on-site resident manager and
maintenance crew. Besides regular management duties, Mark Development also plans and implements all capital improvements for
its projects. Mark Development’s property management staff has been trained and certified by the National Center for Housing
Management (NCHM) and Spectrum, Inc. MDI is computer automated in tenant and accounting information and has responded to
new regulations set forth by the Department of HUD. MDI is on-line in submitting their HUD 50059, Tenant Certification forms, to
the TRACS Central Processing Facility via high speed on line connection. All projects are or were subsidized under various
Federal/State programs (FmHA 515, FmHA “Deep Subsidy”, FmHA/Section 8, HUD Section 8, HUD 236 and LIHTC programs).
Current properties managed include:
1. Kekaha Plantation Elderly Housing: a 36 unit elderly housing project consisting of one bedroom units in nine
four-plex structures in Kekaha, Kauai. Project also includes a laundry facility, and gardens for growing fruits, vegetables and
flowers. The project currently receives HUD Section 8 Rental Assistance. Hit hard by Hurricane Iniki, Mark Development was able
to repair the project and provide for all tenants. Mark Development also managed the difficult settlement with insurance
companies. MDI continues to manage and maintain Kekaha Plantation Elderly. Occupancy is currently at 100%. The project
currently receives HUD Section 8 Rental Assistance.
2. Apopo Hale: a 26 single-family dwelling project of which 13 have three bedrooms and 13 have four bedrooms. The
development was completed in 1979 under the Section 221 (d) (3) program of the National Housing Act. Apopo Hale provides
affordable rental housing in Kapaa, Kauai. MDI continues to manage and maintain Apopo Hale apartments since it was built in
1979. MDI managed major repairs from Hurricane Iniki and insurance settlement negotiations. Occupancy is currently over 90%.
four-plex structures in Kekaha, Kauai. Project also includes a laundry facility, and gardens for growing fruits, vegetables and
flowers. The project currently receives HUD Section 8 Rental Assistance. Hit hard by Hurricane Iniki, Mark Development was able
to repair the project and provide for all tenants. Mark Development also managed the difficult settlement with insurance
companies. MDI continues to manage and maintain Kekaha Plantation Elderly. Occupancy is currently at 100%. The project
currently receives HUD Section 8 Rental Assistance.
2. Apopo Hale: a 26 single-family dwelling project of which 13 have three bedrooms and 13 have four bedrooms. The
development was completed in 1979 under the Section 221 (d) (3) program of the National Housing Act. Apopo Hale provides
affordable rental housing in Kapaa, Kauai. MDI continues to manage and maintain Apopo Hale apartments since it was built in
1979. MDI managed major repairs from Hurricane Iniki and insurance settlement negotiations. Occupancy is currently over 90%.
3. Whitmore Circle Apartments: consist of four two story buildings built in 1990 with one and two bedroom elderly and
handicapped accessible units. All 44 units have FmHA rental assistance available. Whitmore Circle is managed and maintained
by MDI since February 1995 and is fully occupied with a waiting list.
4. Princess Kahanu Estates Association: establishment and formation of community association in 1996 consisting of
271 homes with continuing oversight and management.
5. Hokulele Homeowners Association: establishment and formation of community association in 1986 consisting of 242
homes with continuing oversight and management through 1989. The Association is currently being run independently by the
homeowners.
6. Hanapepe Rent-to-Own: eight single family homes in the Hanapepe Residential Housing Project owned by DHHL
were selected to be used in a rent-to-own pilot project. This project allows affordable rents to native Hawaiians while a portion
of the rent is set aside for down payment savings. Homeownership and financial counseling is required for renters to
participate. Grants from the Federal Home Loan Bank of Seattle were involved.
7. Kapolei Ho’olimalima: Mark Development, Inc. is the property manager for the first Low Income Housing Tax Credit
affordable rental project on Hawaiian Home Lands. The 70 unit single family home affordable rental project targets native
Hawaiian renters making less than 50% and 60% of the Honolulu median income. The project is owned by a limited partnership
made up of tax credit investors with Hawaii Assisted Housing, Inc. (a Hawaii non-profit) as the Operating General Partner. Initial
rent-up and income certifications started in the Fall of 2001 and full occupancy was achieved shortly thereafter in January 2002.
handicapped accessible units. All 44 units have FmHA rental assistance available. Whitmore Circle is managed and maintained
by MDI since February 1995 and is fully occupied with a waiting list.
4. Princess Kahanu Estates Association: establishment and formation of community association in 1996 consisting of
271 homes with continuing oversight and management.
5. Hokulele Homeowners Association: establishment and formation of community association in 1986 consisting of 242
homes with continuing oversight and management through 1989. The Association is currently being run independently by the
homeowners.
6. Hanapepe Rent-to-Own: eight single family homes in the Hanapepe Residential Housing Project owned by DHHL
were selected to be used in a rent-to-own pilot project. This project allows affordable rents to native Hawaiians while a portion
of the rent is set aside for down payment savings. Homeownership and financial counseling is required for renters to
participate. Grants from the Federal Home Loan Bank of Seattle were involved.
7. Kapolei Ho’olimalima: Mark Development, Inc. is the property manager for the first Low Income Housing Tax Credit
affordable rental project on Hawaiian Home Lands. The 70 unit single family home affordable rental project targets native
Hawaiian renters making less than 50% and 60% of the Honolulu median income. The project is owned by a limited partnership
made up of tax credit investors with Hawaii Assisted Housing, Inc. (a Hawaii non-profit) as the Operating General Partner. Initial
rent-up and income certifications started in the Fall of 2001 and full occupancy was achieved shortly thereafter in January 2002.
| 3165 Waialae Ave. #200 Honolulu, HI 96816 Ph: (808) 735-9099 Fax: (808) 737-5633 E-mail: mdi-hahi@hawaii.rr.com |
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