Annex Group to Develop 50-Unit Affordable Housing Property in Kokomo, Indiana

KOKOMO, IND. — The Annex Group LLC, a student housing and affordable housing developer, has unveiled plans to develop a 50-unit affordable housing property at 918 N. Washington St. in Kokomo. The developer plans to break ground this month with completion slated for summer 2020. Known as Union at Washington, the property will include amenities such as a fitness center, playground, computer center and outdoor grilling area. River Hills Bank provided construction financing of approximately $6.5 million. Cinnaire provided $7 million in tax credit equity. Annex also worked in collaboration with the Kokomo Community Development Corp. and Indiana Housing and Community Development Authority. T&H Investment Properties LLC is serving as co-developer and co-owner of the project.