Council Approves of Affordable Housing Development Near Downtown Lincoln

LINCOLN–(KFOR Oct. 1)–Plans to build a $39-million affordable housing development off of 13th and “D” Street have been approved by the Lincoln City Council.

It would include 125 one, two and three-bedroom multi-family units for individuals and families in Lincoln earning no more than 60% of the city’s median income. As for funding, the $39 million project would receive up to $24 million in multi-family housing revenue bonds and more than $2.4 million in TIF funding from the city. The project could take anywhere from 18 to 24 months to complete.

Council members on Monday evening voted 7-0 to approve of the project.