INDIANAPOLIS, IN - The Annex Group®, a leading impact housing developer that creates affordable, workforce, student and market-rate housing communities, announces today plans to develop an affordable housing community in Lincoln, Nebraska. Central at South Haymarket will be a five-story community consisting of 175 one, two, three and four-bedroom units marketed to households whose income level is at 50, 60 and 70 percent of the area median income (AMI). The community will be located on about one acre of land at 933 N. Street, 68508. Details about the community were shared in a joint press conference alongside Lincoln Mayor Leirion Gaylor Baird yesterday in Lincoln.
The nearly $55 million community, which is being built in an area that is currently a parking garage, is expected to open at the end of 2026. Central at South Haymarket will feature impressive amenities including a community room, fitness center, business center, playground, community gardens, outdoor pet area and grilling area.
“Lincoln is a city that is on the rise in population, employment and rental rates,” said David Wesner, The Annex Group Vice President of Development. “It is also a city that is becoming like a second home for The Annex Group. To bring even more much needed affordable housing to the area is something we are very excited about. The great location and desirable amenities of this particular community will make it a great addition to the area.”
The nearly $55 million community, which is being built in an area that is currently a parking garage, is expected to open at the end of 2026. Central at South Haymarket will feature impressive amenities including a community room, fitness center, business center, playground, community gardens, outdoor pet area and grilling area.
“The new Central at South Haymarket project that the city is helping to finance will create 175 new units of affordable housing downtown,” said Mayor Gaylor Baird. “By supporting this development, we’re investing in the people of Lincoln—helping them live closer to jobs, schools, and services while offering housing prices that are within reach.”
Partners on the project include: BVH Architecture, REGA Engineering, the City of Lincoln, Impact Housing Indiana, Corp. and Key Bank's debt and equity teams, which provided more than $20 million in total equity, over $22 million in permanent debt financing, and more than $40 million in construction financing. Key Bank Capital Markets was the bond underwriter on $26 million in bonds issued by Nebraska Investment Finance Authority (NIFA). Thanks also goes to NIFA for their continued support in providing affordable housing across the state of Nebraska, specifically through the issuance of four percent tax credits and tax-exempt bonds. The City of Lincoln issued a 20 year tax increment financing (TIF) along with parking rights provided in surrounding city owned lots and garages to help make this project financially feasible.
“BVH is honored to partner with The Annex Group on a transformative affordable housing project in downtown Lincoln,” said Evan Gunn, Project Manager and Associate Principal with BVH. “With more than 50 years of deep connections to this community, we remain steadfast in our commitment to designing spaces that foster belonging, strengthen neighborhoods, and enrich the dynamic character of downtown. This project represents a meaningful opportunity to reimagine an underutilized block of the city, bringing renewed energy and purpose to the area. We look forward to witnessing its impact—not just on the physical landscape but on the lives of the people who will soon call this place home.”
This is The Annex Group’s third affordable housing community in Lincoln. Union at Middle Creek opened in late 2024, and Union at Antelope Valley is on schedule to open later this year.
“The location for Central at South Haymarket offers quick accessibility to all the places that downtown Lincoln has to offer,” said Joy Skidmore, Development Consultant for The Annex Group. “We believe bringing affordability to an area that already has such great conveniences is beneficial for the future residents and community at large.”
ABOUT THE ANNEX GROUP: The Annex Group® is a leading impact housing developer that creates affordable, workforce, student and market-rate housing communities. With a focus on providing innovative, amenitized housing in emerging markets throughout the United States, The Annex Group is headquartered in Indianapolis, Indiana. To learn more about The Annex Group, visit www.theannexgrp.com or follow them on Facebook and LinkedIn.