Lots with an area up to 20,000 square feet qualify for Bill 7. The minimum front yard must be 10 feet, or the minimum required by the underlying zoning, whichever is less. The minimum side and rear yards must be 5 feet, or whatever is required by the underlying zoning, whichever is less. For development purposes, lots between 5,000 and 20,000 square feet are the most desirable.
Bill 7 allows a building to cover up to 80% of the land. This compares with a 40% to 60% footprint allowed in Apartment zoning.
Bill 7 allows buildings up to 60 feet high.
The Floor Area Ratio (FAR) allowed under Bill 7 is 4.0. This means that the building can be four times the size of the land. Under Apartment zoning, without Bill 7, the FAR ranges between 0.9 and 2.8. Bill 7 allows a larger building to be built on qualifying parcels of land.
The maximum number of units is determined by dividing the Allowable Floor Area by 800. Under this formula a 5,000 square foot parcel would have an Allowable Floor Area of 20,000 square feet. Divide 20,000 by 800 and the maximum number of units allowed on a 5,000 square foot property is 25.
On a 10,000 square foot property, 50 apartments would be possible. A 15,000 square foot property would support up to 75 apartments and about 100 apartments could be built on a 20,000 square foot property.
Lam Capital LLC specializes in new construction of multifamily properties on the island of Oahu. We specifically target properties compliant with Honolulu’s affordable housing legislation known as “Bill 7.” At Lam Capital LLC, we are passionate about Hawaii and its geographic and logistical importance on the world’s economic stage. We believe affordable housing on Oahu is critical to preserving the future of Hawaii.
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