COMMUNITY HOUSING DEVELOPMENTS
Bluestem Commons is mixed income and product neighborhood combining market rate multifamily rental, LIHTC tax credit rental, and market rate ownership opportunities supported by common amenities, a lake, walking paths, and clubhouse.
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Scale: 34 acre, 400 unit master development with multiple sub-projects, ~300 rental opportunities & ~100 ownership opportunities
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Problem or need:
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Solution: Targeting 30% AMI to 120% AMI, with products for each category. Providing high-end amenities for all residents (pool, playground, walking trails, etc.)
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Financing: SID and community financing for infrastructure. LIHTC Competitive, HUD 221D4, and Conventional for individual projects
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Timeline: Availability beginning Spring 2022
South Folsom, Lincoln, NE
Bluestem Commons, Fremont, NE
Bluestem Commons is mixed income and product neighborhood combining market rate multifamily rental, LIHTC tax credit rental, and market rate ownership opportunities supported by common amenities, a lake, walking paths, and clubhouse.
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Project: 34 acre 400+ unit master development with multiple sub-projects, including ~300 rental and ~100 ownership opportunities
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Challenge: How to respond to Fremont's growing housing needs with a range of solutions, while maintaining a sense of place and supporting competitive amenities
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Solution: Layering individual projects on top of a comprehensive site plan
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Financing Structure: SID and community support for initial infrastructure, with projects supported by LIHTC 9%, HUD 221 d(4), and conventional financing
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Timeline: Availability beginning Summer 2021
The Rows, Lexington, NE
The Rows is a mixed income mini-subdivision delivering LIHTC tax credit rental and purchase opportunities in one of Lexington's newest housing developments.
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Project: 40 lots
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Challenge: How to translate the Tax Increment capacity of the community into a purchase incentive that makes home ownership accessible
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Solution: Financing structure that buys-down the home price for the purchaser
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Financing Structure: LIHTC 9%, TIF, and conventional
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Timeline: Phase 1 delivered in 2018, Phase 2 delivered in 2021
The Orchard, Grand Island, NE
Mixed income subdivision delivering ownership and rental opportunities supported by neighborhood amenities.
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Project: 180 lots of single family attached housing
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Challenge: How to translate the Tax Increment capacity of the community into a purchase incentive that makes home ownership accessible and supports development of additional affordable family housing
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Solution: Financing structure that buys-down the home price for the purchaser in combination with 9% LIHTC financing
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Financing Structure: Layering TIF and LIHTC 9% with conventional financing
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Timeline: Phase 1 delivered in 2021
South Folsom, Lincoln, NE
South Folsom is a mixed income and product neighborhood combining market rate multifamily rental, LIHTC tax credit rental, and market rate ownership opportunities supported by common amenities. It is a large-scale suburban setting to respond to Lincoln's affordable hosuing action plan.
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Project: 400 – 600 unit mixed product development on, approximately 30 acres
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Challenge: How to layer various products into a single master planned development
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Solution: Purpose designing the master plan to set a scale for appropriate individual projects, with community support
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Financing Structure: To be determined
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Timeline: To be delivered in 2022 and beyond