Park Avenue apartments renovation to affordable housing

eomaha · Post by **eomaha** » Fri Aug 12, 2005 1:02 am

Not sure how we missed this article, can't find it on the World Herald's website. I think I recall reading something about this a year or more ago.

http://www.knowledgeplex.org/news/101061.html

$16.2 million project, using low-income and historic building tax credits
7 apartment buildings near Park Avenue and Leavenworth
92 units, designated affordable housing

Finn · Post by **Finn** » Fri Aug 12, 2005 2:46 am

This is great news. Affordable housing (through the Low Income Housing Tax Credit program) is often a first step in improving an area. It consolidates renters from antiquated units and puts some investment in the neighborhood. I am sure there are plently of area denizens that will qualify for the income thresholds and this should be a great investment in the neighborhood. (LIHTC is not Section

almighty_tuna · Post by **almighty_tuna** » Fri Aug 12, 2005 11:21 am

Finn wrote:LIHTC is not Section 8

Answered my question already!

StreetsOfOmaha · Post by **StreetsOfOmaha** » Fri Aug 12, 2005 11:39 am

Yeah, I remember hearing about this last year or so. It sounds like a great plan, and some of the buildings being remodeled are absolutely gorgeous!!!