The Annex Group®, a leading impact housing developer that creates affordable, workforce, student, active adult and market-rate housing communities, announces plans to develop an affordable housing community known as Union at Purple Heart Trail in Wichita, Kansas.
Union at Purple Heart Trail will be located on nearly ten acres of land and encompass two four-story buildings surrounded by landscaping and open space. Amenities will include: a community center with fitness center, media center, business learning center, an outdoor gazebo, playground, bark park, walking path and picnic areas.
“The Annex Group is thrilled to expand our footprint in Kansas with the addition of Union at Purple Heart Trail, which will bring hundreds of new affordable housing units to Wichita,” said Ryan Clark, Senior Vice President of Development at The Annex Group. “We’re excited to offer diverse housing options in an amenity-rich area on the east side of town and contribute to solving the affordable housing shortage with a vibrant new community.”
To further enhance the lives of residents, The Annex Group will create a customized Community Impact Plan (CIP) for Union at Purple Heart Trail that will help link residents to meaningful resources that spur personal and professional growth.
“Within a few miles of the property is a grocery store, bus station, pharmacy, gas station and the local elementary school,” said Tom Tomaszewski, President of The Annex Group. “The location is convenient, and the amenities are ample. Union at Purple Heart Trail is a needed addition to this part of Wichita, and we’re very excited to get started on it.”
Partners on the project include HDJ as the architect, Baughman for civil engineering, surveying and planning, Summit LIHTC Consulting, the City of Wichita, which showed strong support for the project and provided incentives and $45.4 million in tax exempt bonds, and Kansas Housing Resources Corporation (KHRC), which issued the tax credit award. Aegon Asset Management provided $26.8 million in federal tax credit equity and $18.4 million in state tax credit equity, and Bank of America provided $45.4 million in construction financing. Merchants Capital supported the project with $14.4 million as the perm lender.
“The Annex Group has a vision that extends beyond affordable housing to improving communities and residents’ lives,” said Brian Emmons, Senior Vice President of Originations at Merchants Capital. “It is an honor to continue our meaningful work with The Annex Group as a financing partner on Union at Purple Heart Trail. We look forward to witnessing the impact these 240 affordable housing units will have not only on its residents but throughout the greater Wichita community.”
“HDJ is excited to partner with The Annex Group to bring this much needed quality affordable housing to Wichita,” said Kimberly Romanosky, Project Specialist for HDJ. “Housing affordability has fast become a national crisis; we are pleased to play our part in addressing it.”
This is The Annex Group’s first community in Wichita and its second in Kansas. Union at the Loop, located in Lawrence, is now leasing.
