News

Vacant lot north of downtown Omaha will become market-rate, low-income lofts

September 25, 2021 as seen on Omaha.com

A $6.6 million townhome-style apartment project is set to rise on an acre of grassy land north of downtown Omaha.

The 1120 Lofts, near 20th and Paul Streets, is designed to be three stories with 30 rental units, all with three or four bedrooms.

A mixed-income development, the building will contain six market-rate units and 24 others offered at lower rental rates because construction is assisted by low-income housing tax credits.

Developer Arch Icon is behind the affordable housing project, which spokeswoman Mindy Crook said is modeled after its Garage Lofts development in north downtown. She said the Garage Lofts was well received and leased quickly.

"I think that most students that get into construction actually already have a little bit of that passion," Woods said.

City officials have approved a $485,000 tax-increment financing request. Forty-six surface parking spots, as well as a community room, will be available on-site.

Alley Poyner Macchietto Architecture is working on the project, which, according to the application, is in an older and "rapidly improving" neighborhood adjacent to Kellom Elementary School, a block from the Metro transit office, and near Creighton University.