Pair of Omaha affordable housing projects gains approval

The Nebraska Investment Finance Authority approved Friday several motions to help fund four affordable housing development in the state. Two of those developments are in the Omaha area. One of the projects is the Timber Creek apartment project, near S 138th and Harrison Streets, with a bond of up to $19 million.”This is located in an area of high opportunity,” said Sara Tichota, low-income housing tax credit allocation manager. “This is a development of over 180 units, 1, 2 and 3 bedrooms that need rehabilitation.”Another development is in north Omaha — near the Highlander Apartments at N 30th Street and Patrick Avenue — which received funding from NIFA as well.”When you start putting housing along with we’ve got coffee shops, venue center, the housing here. It’s a wholesale community validation project,” said George Achola, Nebraska Investment Finance Authority board member.The Kennedy Square East project is the third phase of the North 30th Street Choice Neighborhood Implementation grant. The site will upgrade the former Spencer Projects with Nebraska Investment Finance Authority providing up to an almost $13 million bond. Achola said the community is heading in the right direction and making a difference.”This project can act as a model on what you can do in low-income communities,” Achola said.Tony Goins, Nebraska’s director of economic development, said the state has to recruit talent.”There’s a real opportunity for us to close the gap and grow this economy in ways that we haven’t seen before in the last decade,” Goins said. “So, if we want to be able to close that gap we got to over index on internships to keep to keep young kids here so they know Nebraska is a place for them to have opportunities.”