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Summer Hill Apartments and Townhomes

Summer Hill is a mixed-income housing development consisting of 40 three bedroom townhomes and 96 two and three bedroom apartments. Located in a rapidly-growing, middle and upper-income area of Lincoln, Nebraska, the development is designed in Craftsman-style architecture. Half of the units are reserved for low-income households at or below 60 percent of area median income. The other half are rented at market rate rents affordable to moderate-income households.

All units include central air conditioning, refrigerator, electric range, dishwasher, garbage disposal, formal dining area, nine foot ceilings, crown ceiling moldings, walk-in closets, washer and dryer hook-ups, pre-wiring for cable television, private entrances with front porches, patios or balconies, and insulated windows and exterior doors.

The townhomes are two-stories and have two and one-half bathrooms, high efficiency gas heat and hot water, single-car garage and depending upon the terrain, and a walk-out, daylight or standard basement. Each townhome sits on a separate lot so the units could be sold to individual owners in the long-term future. The apartments have high-efficiency electric heat and hot water. Second floor apartments have vaulted ceilings in the living rooms and extra sound-proofing in the floors to prevent sound transmission to the apartment below. Seven apartments are fully wheelchair accessible.

Amenities include a clubhouse/leasing office with great room, kitchenette, meeting room, fitness room, game room, computer room with internet access and laundry facility; playground; half basketball court; three mail kiosks and on-site maintenance facility. Detached garages are available for an extra fee.

The development was built in two phases with different financing scenarios. The townhomes were financed with approximately $1.9 million of investor capital raised through the sale of $237,564 in federal low-income housing tax credits; a loan of $350,000 from the Nebraska Affordable Housing Trust Fund administered by the Nebraska Department of Economic Development; a loan from the Lincoln Housing Authority and a first mortgage. Total development costs for the townhomes were approximately $6.3 million. The apartments were financed with owner equity ($4.2 million), the sale of tax exempt housing revenue bonds ($6.3 million) and a grant from a local financial institution. Total development costs for the apartments were approximately $10.6 million.