Shawnee County commissioners approved multi-housing revenue bonds April 3 for a new development in Shawnee County.

During its April 3 county meeting, the commission had a public hearing and unanimously approved the intent to issue the bond in an amount not to exceed $65 million.

County bond counsel Bob Perry told the commissioners the proceeds of the revenue bond would be used to acquire, construct and improve the multi-family facility.

The approval of the multi-housing revenue bonds will allow for a sales tax exemption for material supplies that would otherwise be subject to sales tax, Perry told county commissioners.

Union at Tower District housing

The multi-family housing units, dubbed Union at Tower District, will be located at the S.E. corner of S.E. Quincy and 11th Street, said Perry.

The new facility will be 250-unit facility, consisting of one- to three-bedroom units.

"It's being constructed by a single purpose entity, which is an affiliate of a group called Annex group, a real estate development group out of Indianapolis, Indiana, whose basic purpose is to construct, build and manage multifamily housing units across the United States," Perry said.

Shawnee County Commissioner Aaron Mays called the project an exciting one.

"My understanding is that the rent on this project will be relatively obtainable for most people as well." said Mays.

On April 1, Topeka City Council members unanimously approved giving Union at Tower $12 million in tax incentives through a Reinvesting Housing Incentive District.

Union at Tower also received industrial revenue bonds from Shawnee County to help offset the cost of construction supplies at the county's March 27 meeting.