Multi-Family Housing Development

Approach & Results

Client Profile

A leading real estate development firm headquartered in Wichita, Kansas, this company specializes in multifamily, mixed-use, retail, entertainment, adaptive reuse, and in-fill residential projects across suburban and urban settings. With a track record of revitalizing communities through innovative development, this client sought to maximize financial efficiency across several new projects within the region.

Challenge

The client approached our Location Advisory team seeking guidance on incentive opportunities to support the financial feasibility of an upcoming housing development in Wichita. Following the successful outcome of the initial engagement, the client entrusted our team to continue strategic incentive procurement work for four additional multifamily projects.

Project Objectives

The primary objective was to secure available local and state incentives that would offset development costs and enhance project viability, specifically through property tax abatements and sales and use tax exemptions. The client was looking to obtain meaningful incentives in a timely manner without significant project delays or complications.

Process

Our Location Advisory team collaborated closely with local economic development organizations (EDOs), legal professionals, and community partners to advocate for and structure the most advantageous incentive package. We conducted a comprehensive review of the applicable redevelopment areas and special zones, identifying further opportunities for benefit. By actively participating in local council meetings, our team was able to offer direct support and address community and governmental stakeholders’ questions, ensuring a transparent and positive approval process. These combined efforts resulted in successful procurement of substantial financial incentives for each multifamily development.

Results

Over the course of multiple projects, each multifamily development secured between $300,000 and $400,000 in combined property tax abatements and sales and use tax exemptions—representing approximately 10% of each project’s total budget. The collaborative process and swift two-month average timeline per project reinforced the value of strategic incentive procurement for ongoing and future developments.

Our Location Advisory team is committed to identifying and delivering incentive solutions that maximize client ROI and contribute to vibrant community growth.