Affordable housing project in Bloomington to launch
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The city of Bloomington will Thursday break ground on Retreat @ the Switchyard, a 64-unit apartment complex that caters mostly to lower-income and developmentally challenged residents. The new mixed-income and mixed-use rental project will include at least 38 units dedicated to residents earning 30 to 80% of Area Median Income.
Ten of the units will be reserved for individuals with intellectual and developmental disabilities.
The city says the redevelopment commission purchased the 1.5-acre site in 2017 to help steer development consistent with the community’s long-term goals to help underserved communities by building affordable housing.
Indianapolis-based real estate developer Real America LLC was selected to build the housing complex. It is partnering with Bloomington-based nonprofit Stone Belt which provides resources for individuals with disabilities.
Stone Belt will develop onsite service facilities for residents.
The other 16 apartments will be offered at market rates. The plan also includes 3,000-square-feet of commercial space.