Developer Peter Savio is requesting that the Hawaii Community Development Authority raise the asset limit for buyers of Rycroft Terrace, part of the Pagoda Hotel in Ala Moana that’s been converted into 162 affordable housing units.

The project by Savio and Kamehameha Schools provides homes for residents earning incomes ranging from 40 to 120 percent of the area median income, according to HCDA.

The asset limit — the amount one owns in property or savings — is capped at 125 percent of the income limit.

Savio is hoping to increase the asset limit from 125 percent to 135 percent to allow people who have more savings or property ownership become buyers.

In a letter to HCDA executive director Anthony Ching on July 21, Savio said the change would help seniors and help buyers decrease their debt.

The agency is taking up the issue at its meeting on Wednesday, August 6.

HCDA has already granted the project an exemption by allowing it to help fulfill Kamehameha Schools’ requirement to sell lower priced units in conjunction with its higher-end developments in Kakaako, even though the project is located outside of Kakaako.

In the meantime, Savio is letting prospective buyers know that they may still have a shot.

“If you were over the asset limits and determined not to be eligible, this could possibly change,” Savio’s company wrote in an email to potential buyers on July 30.