Thrive West Central awards funding for housing projects
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Thrive West Central this week announced it is awarding nearly $600,000 in local and state funding for six housing projects in the region.
The economic development organization for west central Indiana said the funding, awarded through the Homes for the Future initiative, will leverage nearly $11.5 million in private investment.
It is the fourth round of funding awarded by the organization. The money comes from the American Rescue Plan Act allocation from Vigo County and the city of Terre Haute, as well as the state’s Regional Economic Acceleration and Development Initiative, or READI.
The funding will support 43 new housing units in Clay, Sullivan and Vigo counties, as well as 13 units on five blighted properties in Terre Haute.
Vigo County Commissioner Mark Clinkenbeard said in a news release the new round includes the first awards in the Small Builder, Non-Profit Builder, and Blight and Rehabilitation programs.
“What I really like about the housing plan we have developed is that we’ve included all sectors of the home building industry,” he said. “Large developers are a big part of this program, but equally important are the Small Builder, Not for Profit builders and those that work on Blight and Rehabilitation of our older homes. With this approach, we are able to get more housing units on the market quicker.”
Clinkenbeard noted that it helps officials get housing of all price ranges on the market.
The projects receiving funding are:
- Terre Haute Area Association of Realtors: The Veterans Village Project will provide transitional housing to homeless Veterans in Vigo County. These tiny homes will be constructed at 2441 Maple Ave. in Terre Haute. This is the first award in the Non-Profit Builder Program.
- Highland Property Group: This Vacant Property Rehabilitation Project will transform 13 housing units in Terre Haute. This includes the remodeling of homes, duplexes, and apartments of five blighted properties in Terre Haute. This is the first award in the Blighted and Rehabilitation Program.
- Highland Development Group: The Vigo Infill Development Project adds nine single-family detached homes throughout Vigo County. These 1,300-square-foot homes include 3 bedrooms and 2 bathrooms with a 2-car garage and several high-end finishes. These homes will be built on underused or vacant land to increase density and place new development near existing resources and infrastructure.
- Wallace Building Contractors: This city project will bring 8 single-family detached homes to the College Street Neighborhood. This project will include (6) three-bedroom homes and (2) two-bedroom homes ranging from 1,100 to 1,300 square feet. The homes will also include energy-efficient appliances and be single-level to accommodate a wide variety of needs.
- Bricks & Gables: The Wabash project will generate nine homes in the City of Sullivan to continue the movement of neighborhood revitalization. These single-family detached homes will be built on the empty city lot of Broad and Washington Streets. This project also includes one home in Clay County’s Forest Green Subdivision.
- Bricks & Gables This East Side project will bring six new homes to the Terre Vista Subdivision and 4 new homes to the Eastland Estates Subdivision in Vigo County. These beautiful homes are 1,600 square feet and are finished with beautiful fireplaces, high-end appliances, and other beautiful amenities. These homes will be sold for $347,200, and the project will generate $3,742,000 in private investments. An infrastructure investment of $71,670 in ARPA City funds and $47,780 in ARPA County will support the development of this project.
Thrive West Central has received $10 million for its Homes for the Future initiative. To date, the program has led to the construction of about 150 new homes.
The program is working off an online, rolling Request for Proposals, with applications being reviewed and awards being made monthly. You can learn more by clicking here.