About 100 new homeowners in a mid-priced Kakaako condominium tower are slated to receive their keys today and diversify the demographic of residents at Ward Village.

Ricky and Karen Muraoka, a young married couple, were presented their keys to the Ke Kilohana high-rise Tuesday during a blessing ceremony hosted by the project’s developer, Howard Hughes Corp.

“We’re excited — super excited,” said Karen, a 30-year-old interpreter for Chinese-speaking medical patients.

Ricky, a 32-year-old insurance company staffer, appreciates that he gets to live in the same community where he works. “The location is great,” he said. “Right in the heart of Kakaako. Everything is walking distance.”

The Muraokas, first-time homeowners, will be among 100 or so new residents who can start living in the 42-story building today. The balance of owners in the sold-out 424-unit tower are expected to take possession of their new homes through mid-June. In November, a Longs Drugs store is scheduled to open on the ground floor of the tower on the corner of Ward Avenue and Ilaniwai Street.

Ke Kilohana is the fourth tower Hughes Corp. has finished at Ward Village, but the first with homes reserved for residents with moderate incomes.

The average sale price for Ke Kilohana condos with one to three bedrooms was $510,776. Buyers for 375 units were selected by lottery and could not earn more than 140% of Hono-^­lulu’s median income. Another 49 units were sold at market prices without buyer restrictions.

The first three towers that opened at Ward Village in as many years — Ae‘o, Anaha and Waiea — were luxury towers with average unit prices of $1 million, $1.2 million and $3.6 million, respectively.

“We always love opening up new buildings, but today is really special,” Todd Apo, senior vice president of community development for Hughes Corp., said at Tuesday’s ceremony attended by about 200 people who included new homeowners and development team members. “This is our first reserved housing building.”

Reserved housing refers to homes produced under a state requirement that developers make 20% of new homes affordable and available to residents earning moderate incomes in return for permitting high-density projects in Kakaako.

The requirement by the Hawaii Community Development Authority, a state agency regulating development in Kakaako, aims to serve a “gap group” of residents who often can’t afford market-priced homes but don’t qualify for low-income housing programs. In return, reserved housing buyers agree to certain conditions that include sharing future appreciation with HCDA.

The income limit equated to about $85,150 for a single person, $97,300 for a couple or $121,650 for a family of four when the lottery was held in early 2016 shortly before construction began.

“We’re just so thrilled to finally deliver to you this wonderful building,” said Simon Treacy, Hawaii president of Hughes Corp. “This will not be the last reserved housing tower we do in Ward Village.”

Hughes Corp. is in an early stage of construction on its fifth tower, ‘A‘ali‘i, where 150 of 751 units will be reserved housing. The company has a state-­approved master plan to develop up to around 4,500 residential units planned in 16 towers, yielding a requirement for 900 reserved housing units.