Developer plans three DeSoto projects
Topeka company hopes to follow Intervet to town, build multi-unit housing
A Topeka-based development company is asking the city to support its plans to build three different housing complexes in DeSoto.
Sharad Doshi, vice president of Commercial Group, said the company hopes to build a multi-family complex on 91st Street. It also wants to build senior apartments and an assisted living facility on 83rd Street.
The multi-family complex would be just west of the old Bayer horse serum facility recently purchased by Intervet Inc. Its future is definitely linked to Intervet's plans, Doshi said.
Intervet will be granted a 10-year, 75-percent tax abatement should it decide to build a research and distribution center on the old Bayer property. The company said the campus-like complex would be built in DeSoto or Dallas Center, Iowa, but hasn't announced its final decision.
At Thursday's meeting, Commercial Group will ask the DeSoto City Council to support its application to the Kansas Department of Commerce and Housing for tax credits.
Doshi said his company is applying for tax credits as a possible financing tool, but he said it hasn't yet been decided if they will be used to finance the multi-family complex on 91st Street that will be known as Sunflower Homes.
Tax credits are awarded to projects that set aside a certain number of units for "affordable housing." Those units are reserved for those making 60 percent of a county's medium income.
Doshi said as of now the company plans to build eight duplexes with two-car garages and 40 apartments, 20 with two bedrooms and an equal number with three bedrooms.
Whether any apartments are set aside for affordable housing depends on Intervet's decision and the 198 new jobs it could potentially bring to DeSoto, Doshi said.
"Intervet has said its jobs will start at $40,000 (annually)," he said. "We're planning on building for that market."
Even if tax credits are used, Doshi said he didn't know if the affordable-housing tag applied.
The annual medium income in Johnson County is $57,700 and eligible tenants could earn from $24,000 to $43,000 a year depending on the number of family members, he said.
"It's wrong to call it affordable housing," he said. "I don't know if that applies to Johnson County."
The 48-unit senior housing apartment complex and 30-unit assisted-living complex are to be located southeast of the 83rd Street and Kill Creek Road intersection. Doshi said it would be known as Valley Springs.
Should all go well with the city zoning process and in the state application procedure, Doshi said the developer could break ground on the housing projects in late August.