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Affordable apartment complex planned at 24th and Q in Lincoln
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Affordable apartment complex planned at 24th and Q in Lincoln

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24th & Q

Developers plan to put up a 12-unit apartment building on this vacant lot at 24th and Q streets.

A small apartment development planned at 24th and Q streets will bring some much-needed affordable housing to the city.

Hepburn Properties is planning to build a 12-unit complex on the northeast corner of the intersection. The two-story building would have five one-bedroom, five two-bedroom and two three-bedroom units.

The $1.5 million project would qualify for more than $190,000 in tax-increment funding from the city.

The lot on which the building will be built has been vacant since 2017, when a nearly 100-year-old apartment building was torn down. It is adjacent to several other apartments and assisted-living facilities that also are owned by Hepburn Properties.

Bulk of Lincoln's residential growth focused in burgeoning apartment building projects

According to a redevelopment plan filed with the Lincoln-Lancaster County Planning Department, the new 12-plex apartment building will be built next door to a similar 12-plex. Of the 24 units, Hepburn plans to offer six to low-income renters. Two will be reserved for people making no more than 60% of Lincoln's median income and four will be available to people approved for Lincoln Housing Authority Section 8 vouchers.

"The goal of this project is to strengthen the Lincoln community by providing in-fill residential dwelling units that combine market rate and affordable housing through the redevelopment of property within close proximity to Downtown Lincoln," the plan says.

On Tuesday, the city's Urban Design Committee offered some suggestions to improve the design and accessibility of the building but otherwise praised the project.

Gil Peace, a local architect who is a member of the committee, said it is "fantastic" that affordable housing is being built in the area.

City of Lincoln can't go it alone in tackling housing affordability; draft plan outlines tools to address problem

Dan Marvin, Lincoln's Urban Development Director, said the city and developer negotiated the number of affordable units in the development, and in return, the developer is seeking some relief on parking requirements.

One of the strategies outlined in the city's Affordable Housing Action Plan released last week is using its tax-increment financing authority to push for more affordable housing unit construction.

Marvin said that while the city is not looking to require affordable housing for all TIF projects, it is looking to encourage inclusion when it fits.

The Affordable Housing Action Plan noted that Lincoln needs 2,200 additional rental units priced at less than $500 a month and another 2,800 priced between $500 and $1,000.

More apartments planned for longtime vacant lot east of downtown Lincoln

Photos: New construction in Lincoln

Reach the writer at 402-473-2647 or molberding@journalstar.com.

On Twitter @LincolnBizBuzz.

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Business reporter

Matt Olberding is a Lincoln native and University of Nebraska-Lincoln graduate who has been covering business for the Journal Star since 2005.

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