Eighteen housing developments have been selected to receive $14.3 million in low-income housing tax credits in Indiana. The developments will provide more than 800 affordable homes across the state.
"Rental Housing Tax Credits (RHTCs) are one of the most important tools we have to encourage the production of affordable housing," said Lt. Governor Sue Ellspermann, who chairs the Indiana Housing and Community Development Authority (IHCDA). "The 18 new projects will contribute greatly to the overall development and stabilization efforts of these communities."
With 50 applicants requesting just under $42.4 million in federal housing credits and $16.1 million in supplemental IHCDA funding, the program is highly competitive.
Several notable adaptive-reuse developments were funded this year, including the conversion of an old Coca-Cola bottling building into housing in Fort Wayne.
IHCDA awarded funding to the following projects:
· Atz Place—The redevelopment of a former industrial site in Kendallville will provide 38 units. Housing Services was awarded $539,930 in RHTCs and $375,000 in HOME funds;
· Country Apartments—The rehabilitation of a Sec. 8 apartment complex by Buckeye Hope Foundation will preserve 56 units of affordable housing in Brownstown. The project was awarded $587,067 in RHTCs;
· Crawford Apartments II—The development will provide 35 new one-bedroom units in Bloomington. The target population is chronically homeless individuals with disabilities. LifeDesigns was awarded $659,653 in RHTCs and $400,000 in HOME funds;
· Crystal Valley Manor—The rehabilitation of a U.S. Department of Agriculture Rural Development property by the Crystal Valley Manor partnership (The Woda Group) will preserve 40 units of affordable housing. Located in Middlebury, the project was awarded $395,737 in RHTCs and $200,000 in Development Fund funding;
· Davis Zeller Place—The development involves the adaptive reuse of two historic buildings plus the construction of 12 scattered units on areas recently cleared of blighted structures by New Hope Services, creating a total of 48 units of affordable housing. Located in Brazil in Clay County, the project was awarded $798,765 in RHTCs and $900,000 in HOME funds;
· Florence Fay School Senior Apartments—The adaptive reuse of a historic building by TWG Development will create 73 units of affordable senior housing in Indianapolis. The project was awarded $1.2 million in RHTCs and $500,000 in Development Fund funding;
· Garden View Senior Apartments—The adaptive reuse of a former musical instrument factory by Commonwealth Development Corporation of America will create 55 units of affordable senior housing in Elkhart. The project was awarded $838,880 in RHTCs and $470,000 in Development Fund funding;
· Garfield Commons—ECHO Housing Corp. and Glory Development will build 44 affordable housing units in addition to three lease-purchase homes in Evansville. The project was awarded $815,774 in RTHCs;
· Historic Sullivan Lofts—This project involves the adaptive reuse of 20 affordable housing units in or near downtown Sullivan and the construction of 20 scattered-site affordable housing units on vacant lots cleared through the Blight Elimination Program. Vision Communities was awarded $664,000 in RHTCs and $900,000 in HOME funds;
· Lake Park Senior Apartments—RealAmerica Development was awarded $1.17 million in RHTCs to construct 80 affordable housing units in Hobart;
· Little Crow Lofts—Commonwealth Development Corporation of America is adapting a historic building in Warsaw into 42 units of affordable housing. The project was awarded $638,569 in RHTCs and $500,000 in Development Fund funding;
· Phoenix Manor—The project involves the adaptive reuse of a former elementary school into 33 affordable senior apartments in Woodburn. Keller Development was awarded $565,434 in RHTCs;
· Renaissance Pointe—A former Coca-Cola bottling building will be converted into housing. The development also involves the construction of single-family lease purchase houses in the surrounding Fort Wayne neighborhood to create a total of 62 homes. MV (Miller-Valentine) Affordable Housing was awarded $1.16 million in RHTCs and $500,000 in Development Fund funding;
· Riverside Villa Apartments—Herman & Kittle Properties will construct 38 new units of affordable family housing in Ligonier. The developer was awarded $725,000 in RHTCs and $500,000 in Development Fund funding;
· Salem Place Apartments—RealAmerica Development was awarded $855,083 in RHTCs to build 64 affordable housing units in Daleville;
· South Bend Permanent Supportive Housing—The development will consist of 32 one-bedroom new construction units in South Bend. The target population is homeless persons with mental illness and/or chronic addictions. South Bend Heritage Foundation was awarded $654,449 in RHTCs;
· Stokes Commons—The development will reuse the vacant Stokes Elementary School building and add four one-story buildings to create 68 affordable units for the elderly in Lebanon. Housing Directions was awarded $944,520 in RHTCs; and
· Vine Street—An industrial building will be converted into 62 affordable housing units in Jasper by MV Affordable Housing. The project was awarded $1.18 million in RHTCs and $500,000 in Development Fund funding.
For more information, visit the IHCDA website.