Kokomo Developments Receive Funding
Rendering of Union at Washington. (rendering courtesy of City of Kokomo)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowState tax credits and federal funding have been secured for two Kokomo housing developments. Sargent Place and the Union at Washington will receive over $3 million.
Advantix Development Corporation has been approved for over $2 million from four different funds to help build Sargent Place, which will provide housing to homeless families whose head-of-household suffers from drug addiction and/or mental illness. The project also offers comprehensive drug treatment and mental health service to tenants. Construction on the 35 units will begin in Spring 2019.
Tax credits have also been secured for a 51-unit affordable housing complex north of downtown Kokomo. Union at Washington will use over $1.2 million made available through two funds. The Annex Group development will be built along the Industrial Heritage Trail. Mayor Greg Goodnight says the projects are welcome additions.
“Both of these projects fill a need in Kokomo,” said Goodnight. “Sargent Place will provide supportive housing while Union at Washington will create quality housing near downtown. I appreciate that the IHCDA saw the value in these developments.”
The Indiana Housing & Community Development Authority worked with developers on both projects to help secure funding.