Highland Park Townhomes

2351 Southeast Bellview Avenue Topeka, KS 66605
Status: Escrow
Year Built: 1968
Price: UNRPRICED OFFERING
For more information please contact:
jeff@lihtcadvisors.com
In Cooperation with:

Wilhoit Properties

# of Units: 200
# of Buildings: 31
# of Stories: 2
Rentable SF: 241,800
Lot Size: 13.22 Acres
Density: 15.13 Units/Acre

Highlights:

  • The AMI in Shawnee County Increased by Nearly 10% in 2019
  • Located in the Capital of Kansas, Topeka’s Largest Employer’s are in Healthcare, Government, and Education
  • 125 of the 200 Units are Covered Under a 20 Year HAP Contract
  • Home to Washburn University, with a 2018 Enrollment of 6,900 Students

Description:

Highland Park Townhomes is a 200-unit affordable housing community located in the historic Highland Park neighborhood in the southeast portion of Topeka, KS. Residents are able to enjoy walking around the nearby Shawnee Lake and parks, and take advantage of the properties proximity to local shopping, dining, and entertainment options. The property also is within easy access to Interstate 470, neighboring schools, and downtown Topeka amenities.

The property was built in 1968 and rehabbed and placed in service in 2003 under the Section 42 Low Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place which requires all units to be rented to income qualifying residents earning no more than 60% of Area Medium Income (AMI) limits, which are provided by the Kansas Department of Housing and Commerce. The property is beyond its initial tax credit compliance period.

The property is also a recipient of HUD Section 8 project based rental income assistance pursuant to a Housing Assistance Payment (HAP) contract. The current contract has an effective date of September 9th, 2009, and provides assistance for 125 units. Within the contract, Section 2(a) states that the contract runs for an effective term of 20 years.

Residents benefit from community amenities such as a community clubhouse, on-site laundry facility, on-site manager, complimentary resident move-in concierge, and a playground. Highland Park offers one, two, and three bedroom floorplans that come standard with an electric kitchen, washer/dryer connections, walk-in closets, extra storage, and a patio/balcony.

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