1 week Ago
The recent announcement that all 192 units in the latest — and one of the largest — affordable housing projects were rented was good news. And the good news gets better. President Tom Tomaszewski of the Annex Group, an Indiana-based developer, said, "When the city of Lincoln several years ago went out and proclaimed that they needed 5,000 units of affordable housing, we knew that this was a place that we needed to be.
This represents the first investment from the Annex Group in Lincoln, but it won’t be the last.” Tomaszewski cited cooperation and support from the city and other officials as part of the reason for their interest in more projects. After the 192-unit Union at Middle Creek complex in west Lincoln, The Annex Group is working on a 187-unit project, Union at Antelope Valley, that is bounded by Antelope Valley Parkway and 18th, K and L streets.
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A third project, 175 units at 205 S. 10th St., is also in the planning stages.
That's 554 units right there. Lincoln Mayor Leirion Gaylor Baird's Affordable Housing Coordinated Action Plan, created in 2020, had a goal of 5,000 new units in a decade. Gaylor Baird said the city is ahead of pace with 2,670 units incentivized by the city so far.
Union at Middle Creek rents to people making 60% of the area median income — $42,900 for a one-person household and $61,260 for a four-person one. And that's something that bears watching. "Affordable housing" can be a vague term without setting an objective, numerical standard.
One person's affordable may not be another's. And an income-based definition, while simple, may miss some key factors. A sharp increase in consumer prices could make currently affordable housing seem a lot less so, and a sharp increase in consumer prices is a possible outcome of increased tariffs favored by incoming President Donald Trump.
Public policy can affect energy and health care prices, also moving the needle on what is truly affordable housing. For now, though, there's plenty to celebrate. Adding affordable housing units helps people get their feet under them.
It attracts new people to Lincoln for jobs fueling economic growth for all. And the reputation Lincoln is establishing as a good community for developers to work with will bear fruit beyond these developments. Catch the latest in Opinion Get opinion pieces, letters and editorials sent directly to your inbox weekly!.
