A $6 million project to build 16 rental residences near South 15th and Spring Streets in Omaha has received a nod from the Omaha Planning Board, which has given its approval for $250,000 in tax-increment financing.
The nonprofit developer, Holy Name Housing Corp., says the 1420 Villa Rows Court project would provide affordable housing for residents with low to moderate incomes.
The nearly 1.4 acres of vacant land had been occupied years ago by houses in the Deer Park neighborhood but more recently had been held in reserve by the Zoo Foundation. Situated near the Interstate 80 and South 13th Street interchange, the site has been overgrown and neglected, according to documents considered last week by the Planning Board.
Holy Name proposes row house-style units arranged in three structures; two with seven units each and one with two units.
If given approval by the City Council, construction would begin later this year, and completion is anticipated by 2022. Potential tenants are to be referred by Heartland Family Services' Rapid Rehousing Program, city documents said.
Also helping to finance the project are low-income tax credits and City of Omaha HOME funds.
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