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Topeka council approves RHID for Sherwood Professional Park; developer to build 20 market-rate units
Summary
The governing body approved an ordinance establishing a reinvestment housing incentive district (RHID) for Sherwood Professional Park, authorizing reimbursements capped at just over $1 million to support construction of 10 duplexes (20 units) targeted at market rents.
The Topeka governing body on Feb. 11 approved an ordinance to establish a Reinvestment Housing Incentive District (RHID) for Sherwood Professional Park and adopted a housing development plan presented by Gen 3 Construction Development LLC.
Rhiannon Freeman, Planning and Development Services director, told the council the proposal covers 10 duplexes (20 three‑bedroom, two‑bathroom units), each with two‑car garages, and that the units are intended to be “market rate multifamily rental pricing, it's targeted to be $1,900 a month.” She said the RHID reimbursement was set with an “absolute cap of right over a million dollars,” representing about 16.7% of the project’s estimated total cost and structured to reimburse the developer in an earn‑up sequence tied to construction tranches.
The plan, Freeman said, moved through a…
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