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Local housing projects get $3.4M boost from tax credits

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Indiana has awarded more than $14.3 million in rental-housing tax credits to 20 developments, including $3.4 million for four projects in Marion County.

The local projects include new apartments for seniors, the developmentally disabled and homeless veterans. One of the projects will make use of a former barracks at Fort Benjamin Harrison, and another is part of a larger development at the former Central State Hospital grounds.

The funding comes through the federal Rental Housing Tax Credit Program, administered by the Indiana Housing and Community Development Authority.

Lt. Gov. Sue Ellspermann's office said the 2013 tax credit allocation will fund nearly 800 housing units and could leverage as much as $130 million in private capital. The IHCDA also granted $7 million in loans to 12 of the chosen projects.

Here's a rundown on the Indianapolis developments:

— BWI LLC will create 57 units for seniors through preservation and adaptive reuse of two vacant complexes, plus new construction, at Clifton Square on the northwest side. BWI received $1.1 million in credits and a $500,000 IHCDA loan for the project at 1100 and 1101 W. 30th St.

— Affordable Midwest Housing Corp. will rehab a former barracks building at Fort Harrison in Lawrence, creating 21 units for the developmentally disabled. The Merici Village project is at 5707-5709 Lawton Loop. Affordable Midwest received $326,000 in credits and a $400,000 IHCDA loan.

— The Retreat on Washington will be 62 new one- and two-bedroom apartments for seniors, part of a larger mixed-use development on the former Central State grounds. DBAC Development LLC received $1.2 million in credits. The site is at 3100 W. Ohio St.

— The Point on Fall Creek II will offer 50 new supportive-housing units for homeless veterans at the southwest corner of Allisonville Road and 46th Street. Partners in Housing Development Corp. received $782,514 in credits.

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  • IBJ Article on Clifton
    check this out
  • DBAC Development
    How is it that State tax credits are issued to an entity that isn't registered with the Secretary of State's office?

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  1. I am so impressed that the smoking ban FAILED in Kokomo! I might just move to your Awesome city!

  2. way to much breweries being built in indianapolis. its going to be saturated market, if not already. when is enough, enough??

  3. This house is a reminder of Hamilton County history. Its position near the interstate is significant to remember what Hamilton County was before the SUPERBROKERs, Navients, commercial parks, sprawling vinyl villages, and acres of concrete retail showed up. What's truly Wasteful is not reusing a structure that could still be useful. History isn't confined to parks and books.

  4. To compare Connor Prairie or the Zoo to a random old house is a big ridiculous. If it were any where near the level of significance there wouldn't be a major funding gap. Put a big billboard on I-69 funded by the tourism board for people to come visit this old house, and I doubt there would be any takers, since other than age there is no significance whatsoever. Clearly the tax payers of Fishers don't have a significant interest in this project, so PLEASE DON'T USE OUR VALUABLE MONEY. Government money is finite and needs to be utilized for the most efficient and productive purposes. This is far from that.

  5. I only tried it 2x and didn't think much of it both times. With the new apts plus a couple other of new developments on Guilford, I am surprised it didn't get more business. Plus you have a couple of subdivisions across the street from it. I hope Upland can keep it going. Good beer and food plus a neat environment and outdoor seating.

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