The lease, including an amendment to the redevelopment agreement, must still be approved by the city before construction can begin, according to the article.
VA department officials said they hope to begin vertical construction on the 70-unit apartment building this fall.
The Seniors Foundation of Lincoln and Lancaster County initiated the plan and had been negotiating the long-term lease for five years, according to the article. Sampson Construction, also in Lincoln, will be responsible for construction.
The city of Lincoln will finance the first phase of the project, or up to $1.4 million. The first phase involves the construction of the apartment building only. Renovations to the VA hospital have been shifted to the second phase.
The foundation will also receive low-income housing tax credits to help build the complex, according to the article.
More articles on facilities management:
14 hospitals planning facility expansions, upgrades
Tennessee hospital to add 400 new jobs with expansion
CHI Franciscan Health to spend more than $530M on Harrison Medical Center expansion
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