Senior HAP Sale in WichitaKyle Shoemaker
On June 17, 2021, AHIB completed the sale of Greenway Park, a 91-unit Senior HAP complex. Built in 1979, Greenway Park is a Project-Based Section 8 Senior and Disabled property consisting of one 3-story building containing 91 one-bedroom apartment homes on 3.25 acres. Greenway Park is located at 404 W. Pawnee Avenue just minutes from downtown Wichita. The property is one of a very few competing properties for affordable, independent senior apartment options in the area.
This Senior HAP project is financed with 4% tax credits allocated by Kansas Housing Resources Corporation (KHRC), tax exempt bonds issued by the City of Wichita, permanent and construction financing provided by KeyBank, and tax credit equity provided by National Development Council (NDC). The property will receive over $50,000 per unit in hard cost renovations as part of the Buyer’s acquisition and 4% tax credit award.