Affordable housing projects bag $16M in state grants, loans
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Nine affordable rental housing projects around the state are getting a significant boost. The support comes during a time when rent prices climb and the housing inventory constricts.
The HOME Investment Partnerships Program awarded a total of $15.7 million to nine construction and rehabilitation projects meant for low and moderate-income Hoosiers.
“Affordable housing is vital to a community’s vibrancy,” said Lt. Gov. Suzanne Crouch. “Through HOME funding, these projects will create and restore hundreds of units, greatly benefitting the Hoosiers who live, work and play in those communities.”
The supported projects are:
- Sunset Ridge Apartments, developed by Blue River Services, Inc.: $1.5 million for 10 affordable rental units in Corydon
- Sellersburg Scholar House, developed by Family Scholar House, Inc.: $1.5 million for 18 affordable rental units in Sellersburg
- McKinley Court, developed by Four Rivers Resource Services, Inc.: $776,800 for eight affordable rental units in Columbus
- 317 Arbor Ct, developed by Lacasa of Goshen, Inc.: $909,000 for seven affordable rental units in Goshen
- Hattle Apartments, developed by Lacasa of Goshen, Inc.: $1.5 million for rehabilitation of 12 affordable rental units in Goshen
- Milan Senior Housing Rehab, developed by Milan Housing for the Elderly, Inc.: $1.5 million for rehabilitation of 34 affordable rental units in Milan
- Oakland Gardens, developed by New Hope Development Services, Inc.: receive $1.5 million for eight affordable rental units in Oakland City
- White River Landing, developed by New Hope Development Services, Inc.: will $1,440,000 for six affordable rental units in Petersburg
- Switzer Square Senior Rental Rehab Project, developed by Switzerland County Housing Inc.: $828,601 for rehabilitation of 41 affordable rental units in Vevay
Lacasa of Goshen, Inc. in Goshen was also awarded $1.5 million for eight housing units for people with both a substance use disorder and mental illness.
The HOME program is an initiative of the Indiana Housing and Community Development Authority. It is designed “to provide habitable and affordable housing for low and moderate-income persons.”