The Topeka City Council is working with local developers Gen III to bring more housing to Topeka.
During the city council meeting Tuesday evening, council members unanimously approved making a plot of land part of a Reinvestment Housing Incentive District.
Located on the northwest corner of N.W. Lyman Road and N.W. Veil Avenue, the property is set to have 15 new single family dwellings varying in size.
What will Gen III use the reinvestment housing incentive for?
How the incentive works is Gen III will pay all the upfront costs for the 15 houses at Riverstone Meier’s Place and then will be reimbursed by the city through property tax that the houses generate.
Gen III will receive up to $385,000 in tax reimbursements to repay some of the construction costs, land acquisition and site preparations.
City meeting documents state the price of the houses will vary between $260,000 to $325,000, depending on the house’s layout. Each will have square-footage range of 1,200-1,750. The layout will also include three bedrooms, two bathrooms and a two-car garage.
To get a reinvestment housing incentive, the city and state must approve the project. The Kansas Department of Commerce approved the incentive application on May 30.
Meier’s Place Subdivision Developments and Gen III have said they have the potential to add 41 additional houses in the future.
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This article originally appeared on Topeka Capital-Journal: Topeka will give $385,000 in housing incentives to build 15 homes