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Tony Krsnich, CEO of Flint Holdings Group, says he expects his development of the Warehouse Arts District in East Lawrence to be completed within the next five years, but first, two more mixed-income housing projects will come to market.
Krsnich describes his mixed-income housing projects as apartment developments that offer both affordable housing units and market-rate units, increasing inventory for people with a wide range of income levels.
"The reason I do that is because I want to create a community within a community and try to provide something for everybody and not have to turn anybody away," Krsnich said.
Adding affordable housing to Lawrence's inventory is a hot topic around town. The city says its housing market is "stuck" with a 69% increase in the median home sales price compared to a three-percent increase in incomes between 2018 and 2025.
The Flint Holdings Group opened its newest housing development — New Hampshire Lofts — in downtown Lawrence at 1010 New Hampshire Street this spring. It's a mixed-income project that creates 48 affordable units for those 55 and older.
Rent prices are on a sliding scale, based on the unit's size and the tenant's income.
READ MORE | New Lawrence development offers affordable housing for people 55 and up; resident talks impact
For that project, Flint Hills Holdings Group received $8.5 million in federal funds and another $8.5 million in state affordable housing tax credits.
Lawrence provided $450,000 through its ARPA Fund and $400,000 through its Affordable Housing Trust Fund. The city also approved a neighborhood revitalization area tax exemption at 95% for 15 years and an industrial revenue bonds sales tax exemption.
Now, Krsnich and his team will refocus their energy to the Warehouse Arts District. Krsnich has his eyes set on a lot just north of where East Eighth and Pennsylvania streets meet and on a parking lot off Delaware Street.
Near the intersection of East Eighth and Pennsylvania streets sits a quonset hut. Krsnich said he got it listed on the National Registry of Historic Places a couple of years ago, and plans to incorporate it into the district.
"We’re calling it the Terrapin — outdoor music, dog-friendly, food trucks, beer, bocce ball — just a really cool gathering space," Krsnich said. "When we finish doing that, we’ll finish burying the power lines. At that point in time, the Warehouse Arts District will be pretty close to complete.”
Krsnich said when he began developing the Warehouse Arts District in 2012, all the historic buildings on the two-block area were "completely boarded up, completely blighted."
That year, Flint Holdings Group kick-started its redevelopment of the district with the Poehler Lofts.
"We made an application to the Kansas Housing Resource Corporation as well as the State Historic Preservation Office and the National Park Service to combine affordable housing tax credits with state and federal historic credits, and we were successful in our applications," Krsnich said. "We produced 49 apartments in a mixed-income development.”
From there, Krsnich went on to help with the commercial development of the Cider Gallery before returning to the residential side with the 9 Del Lofts, located at 900 Delaware Street.
9 Del Lofts added 43 apartment units to Lawrence's housing stock, with 80% of units at an affordable housing rate and 20% listed at the market rate, according to Krsnich.
The Penn Street Lofts, located at 801 Pennsylvania Street, have both affordable units and market-rate units, and the first floor includes mixed-use units for both living and working.
“From a business standpoint, we’re very excited to be almost 100% occupied almost overnight every time we open up a building," Krsnich said.
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