INDIANAPOLIS (October 12, 2023) – The Annex Group®, a leading impact housing developer that creates affordable, workforce, student and market-rate housing communities, announces today plans to develop an affordable housing community in Lincoln, Nebraska. Union at Antelope Valley will be a five-story community with 187 one, two and three-bedroom units available for households whose income level is at or below 60 percent of the area median income (AMI).
The $52.7 million community will be located on 1.7 acres of land at 1810 K. Street within the eastern portion of downtown Lincoln. Union at Antelope Valley is now under construction with an expected opening date in summer of 2025.
“We are proud to extend our footprint in Lincoln with Union at Antelope Valley,” said Kyle Bach, CEO of The Annex Group. “This community is well-positioned within downtown, with a nearby grocery, pharmacy, schools and recreation. It’s also close to major freeways and a number of top employers, which brings about a sense of convenience and livability that we hope the people of Lincoln appreciate.”
Union at Antelope Valley will offer several amenities, including a community center, fitness center, dog park, courtyard, private garage and on-site management. Residents can also enjoy in-unit washers and dryers, and balconies or patios on all units. The ground floor of the building will house a parking garage with residential levels on the top four floors.
This is The Annex Group’s second community located in Lincoln. Union at Middle Creek, also an affordable housing community, has units currently available for rent.
“Creating affordable housing works best when meaningful partners step up to the plate,” said Tom Tomaszewski, President of The Annex Group. “The city was in strong support of this community due to the significant affordable housing need and the fact that this project helped fulfill needs outlined within the City of Lincoln Affordable Housing Coordinated Action Plan. We are excited to become even more ingrained in this community and make a positive impact for the people who will live and work here.”
Like all of The Annex Group’s affordable housing communities, Union at Antelope Valley will have a customized Community Impact Plan (CIP) that will help connect residents with meaningful community resources that help them grow and thrive while they live there.
Partners on the Union at Antelope Valley project include: BVH Architecture, REGA Engineering Group and Summit LIHTC Consulting. More than $21 million in federal LIHTC equity financing was provided by US Bancorp Impact Finance. More than $25 million in debt financing was provided Cedar Rapids Bank and Trust. The Annex Group’s construction arm, Annex Construction of Nebraska, LLC, is the general contractor for the project.
To learn more about The Annex Group, visit www.theannexgrp.com.
ABOUT THE ANNEX GROUP: The Annex Group® is a leading impact housing developer that creates affordable, workforce, student and market-rate housing communities. With a focus on providing innovative, amenitized housing in emerging markets throughout the United States, The Annex Group is headquartered in Indianapolis, Indiana. To learn more about The Annex Group, visit www.theannexgrp.com or follow them on Facebook and LinkedIn.