MANHATTAN (KSNT) – New housing opportunities are opening up in the Little Apple.
After a year of construction, the nearly $43 million Bureau Lofts affordable housing community in Manhattan is nearly complete. The apartment complex is now accepting applications.
The property is operated by Valhallan Management, a Missouri-based property management company that specializes in multi-family residential complexes, senior living communities and affordable housing.
Valhalla Management Executive Director Carri Eisenhauer said the 106-unit complex will offer multiple living options, including one-, two- and three-bedroom units to renters who meet federal income qualifications.
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“When we’re able to put someone in safe, clean housing, it’s worth all the paperwork,” Eisenhauer said.
Eisenhauer said the building at 2323 Anderson Ave. is a former Kansas State University building known as the Unger Complex. She said the developer has reconfigured the structure into living quarters. The second building nextdoor at 2305 Timberlane Dr. is new construction.
While Valhalla Management manages the property, Manhattan Housing Partners LP developed and currently owns Bureau Lofts. Eisenhauer said the owner worked with the State of Kansas to secure federal Low Income Housing Tax Credits (LIHTC) to help fund the project. The complex operates under Section 42 of the Internal Revenue Code with all units falling under LIHTC income guidelines. Bureau Lofts also accept Section 8 vouchers.
The LIHTC program does not provide direct rental assistance, but instead reduces the rent a landlord is permitted to charge. Rates are capped by Area Median Income (AMI) requirements and only households below specific income thresholds qualify.
Eisenhauer described qualified Bureau Lofts renters as, “working single parents who are also going to school, seniors who are living on limited income.” She said most full-time students would be unable to meet residency qualifications.
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Valhalla Management is currently accepting applications for Bureau Lofts. You can learn more by emailing bureaulofts@managevalhalla.com, calling 785-410-4445 or by clicking here.
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