The City of Lincoln has announced plans to develop a 175-unit affordable housing complex in downtown Lincoln at 933 “N” St. — “Central at South Haymarket” will occupy the north half of the block bounded by Ninth, 10th, “M” and “N” streets.
“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,” said Mayor Leirion Gaylor Baird.
The new complex, through a partnership with The Annex Group of Indiana, moves the City closer to its goal to develop 5,000 new or rehabilitated affordable housing units by 2030, Mayor Gaylor Baird said. Central at South Haymarket is the third affordable housing complex developed by The Annex Group in Lincoln.
The five-story complex will offer one, two, three and four bedroom units for households whose income level is at 50%, 60% and 70% of the Area Median Income (AMI). Groundbreaking is scheduled for March with an expected opening in late 2026. Amenities include a community room, fitness center, business center, playground, community gardens, outdoor pet area, grilling area and reserved parking at Center Park Garage.
The project will cost nearly $55 million. The City will contribute $5.6 million in tax-increment financing (TIF) — a public financing method that uses future property tax revenue to fund projects.. Rental rates will range from approximately $1,079 for a one-bedroom unit to $1,672 for a four-bedroom unit. Rental rates are tied to the Area Median Income levels for Lancaster County. This level of rental rate is fixed for 30 years and there are no limits on how long residents may live in the complex, as long as they meet their initial AMI level to qualify.