Meta CEO Mark Zuckerberg and his wife Priscilla Chan have donated $626,000 to the nonprofit Permanently Affordable Living Hawaii to finance the creation of five homes in a workforce housing project located on a land trust on the Hawaiian island of Kauai.
Kauai Now News reports the donation will aid Kauhale O Namahana, a Kīlauea-based project that will construct 11 single-family units for low and middle-income households. Permanently Affordable Living Hawaii is building five of the units that will be reserved for households at 120% area median income and below, and Kauai Habitat for Humanity is building the other six units to households at 80% area median income or below.
The Kauhale O Namahana project is part of Permanently Affordable Living’s Ho’omaluhia Community Land Trust, where homeowners enter a 99-year renewable land lease with resale restrictions designed to maintain the home’s affordability for future buyers.
“Our affordability period will be for two, 99-year lease periods for a total of 198 years of affordability through our community land trust,” explained Larry Graff, executive director of Permanently Affordable Living Hawaii.
The project is slated to be completed by the end of next year and will be located near Zuckerberg and Chan’s 1,400-acre estate named Ko‘olau Ranch in nearby Moloa‘a. Zuckerberg’s net worth is estimated at $195.5 billion, and he ranked fourth on the Forbes Real Time Billionaires List of the world’s richest people.
Photo courtesy of Mark Zuckerberg’s Facebook page
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