Community members in Clinton, Ind., are rejoicing as two decrepit industrial sites have been transformed into affordable housing.
George “Sonny” Carey says the sites had been community eyesores for decades.
“Everybody wanted something done about it, and nobody had the power to get it done,” he says.
That’s when Indianapolis-based Herman & Kittle Properties stepped in. When the for-profit developer proposed an adaptive-reuse project to turn the parcels into much-needed affordable housing, Carey and other members of the local community revitalization nonprofit organization, Little Italy Festival Town (LIFT), were skeptical.
But after taking a deep dive into Herman and Kittle’s proposal and background of building affordable housing, the organization decided to get on board, and a partnership was born to clean up the trash-ridden sites.
LIFT became the owners of the new Meadow Park community. The community is composed of two parcels where a shuttered garment factory and a former manufacturing site once stood. The former garment factory was completely restored into The Lofts, while the manufacturing site’s shell of a building was torn down and became The Villas. The community boasts 60 units of housing, and seven are designed for tenants with disabilities.
Jenice Myers, development services manager at Herman & Kittle, says the company was notified of the need for affordable housing in Clinton through a consultant and found the adaptive-reuse project as a viable way to fulfill that need.
“We began talking to city officials and people in the community about what they wanted to see in the community,” Myers says. “And this is what we came up with.”
The community includes a mix of one-, two-, three-, and four-bedroom units, which will be available for households earning between 30 percent and 60 percent of the area median income.
Although the two sites are just over a mile apart, they’ll share a leasing and business operation office, which will be centralized at The Villas. Each part of the community, which Herman & Kittle will manage, will have a stellar amenity package, including a dog park, fitness centers, and a computer center.
The community also has received LEED Silver certification and features Energy Star–certified building envelopes, water conservation showerheads and faucets, and energy-efficient heating and cooling, appliances, and windows.
The $8.1 Meadow Park community was financed through low-income housing tax credits (LIHTCs), with U.S. Bancorp Community Development Corp. as the tax credit investor. IFF provided the mortgage, and the Indiana Housing and Community Development Authority (IHCDA) provided financing through the HOME program as well as its Development Fund.
The LIHTCs were awarded by IHCDA in February 2013 in correlation with the Community Action Agency of Western Indiana getting involved and vowing to provide an array of supportive services to residents including adult education, meal preparation, and mentor programs.
The property began leasing recently. The Lofts were completely leased by August, and The Villas were still in lease-up as of mid-August.
Lindsay Machak is an associate editor for Multifamily Executive. Connect with her on Twitter @LMachak.