The Annex Group to Develop $52.7M Affordable Housing Community in Lincoln, Nebraska

by Kristin Harlow

LINCOLN, NEB. — The Annex Group is developing Union at Antelope Valley, a $52.7 million affordable housing community in Lincoln. The five-story project will feature 187 one-, two- and three-bedroom units that will be reserved for households whose income levels are at or below 60 percent of the area median income. Completion is slated for summer 2025.

The community will be situated on 1.7 acres at 1810 K. St. within the eastern portion of downtown Lincoln. Amenities will include a community center, fitness center, dog park, courtyard, private garage and onsite management. Like all of Annex’s affordable housing communities, Union at Antelope Valley will offer a customized Community Impact Plan that will help connect residents with community resources.

Partners on the project include BVH Architecture, REGA Engineering Group and Summit LIHTC Consulting. US Bancorp Impact Finance provided more than $21 million in federal Low-Income Housing Tax Credit equity financing, while Cedar Rapids Bank & Trust provided more than $25 million in debt financing. Annex’s construction arm, Annex Construction of Nebraska LLC, is the general contractor.

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