Indiana First region focuses READI funds on housing
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The Indiana First region is planning to invest $7.1 million in READI funds for public infrastructure projects that will help address the gap in quality workforce housing throughout the region. Indiana First says nearly 400 new homes are being planned across southwest Indiana as part of its “Talent’s Hometown” program.
The Indiana First region, which includes Harrison, Knox, Perry, Pike, and Spencer counties, was awarded $15 million through the state’s Regional Economic Acceleration and Development Initiative.
The organization says the projects will enable additional development opportunities for residential builders. The region expects an increase of more than 205 single family homes and at least 85 multi-family residential units across the five-county area.
“The shortage of quality, affordable housing in our region is among the greatest challenges to economic growth,” said Darrell Voelker, Indiana First committee member and director of the Harrison County Economic Development Corp. “The Indiana First region intends to maximize our efforts to address these gaps.”
Indiana First says the READI funding will leverage more than $109 million in private capital investments, and nearly $39 million in local matching funds.