Indianapolis bank grants $15M for affordable housing
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The Federal Home Loan Bank of Indianapolis is awarding a total of more than $15 million to 32 affordable housing projects in Indiana, Kentucky and Michigan.
The amount is over double what the bank dealt out last year at $7 million. A grantee could see up to $600,000 for purchasing materials, constructing and rehabing housing.
This year’s grants are estimated to create or rehabilitate over 1,150 affordable housing units in areas the bank system serves, the bank said. Of all the projects, 67% of homeownership developments and 19% of rentals will be in low-income minority areas.
The 20 projects in Indiana are:
- 2023 Habitat for Humanity Fields at Highland Affordable Homeownership Project in Mishawaka
- 2023 Habitat for Humanity of St. Joseph County Harrison Avenue Affordable Homeownership Project in South Bend
- Aspen Meadows in Salem
- Butler Townhouses in Butler
- Center for Women and Children in Evansville
- Dillsboro Village Apartments Low Income Senior Rental Rehab Project in Dillsboro
- Fortify Home in Auburn
- Greater Indianapolis Habitat – Scattered Sites
- Home Stabilization Program in Indianapolis
- Hope’s Landing in Warsaw
- The Jeffersonian in Lafayette
- Liberty Somerset, LLC in Princeton
- One Community in Corydon
- Scattered Site 2023-2024 in Elkhart
- Snowy Owl Commons in Lafayette
- Southwind Apartments in Mount Vernon
- Temple Avenue Townhomes in Indianapolis
- Thunder Pointe in Fort Wayne
- West Baden Lofts in West Baden Springs
- Westdale Darby in Kokomo
Kentucky will have one project in Louisville, and Michigan will see 11 projects across the state.
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