$12M apartment project serving homeless vets

November 20, 2013
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Lincoln Apartments, the city’s first permanent supportive housing facility for homeless veterans, opened Tuesday, about a year after city and local not-for-profit officials broke ground on the project.

Lincoln apartments
                              225pxThe $12 million, 75-unit complex, located at 530 Holmes Ave. just north of West Michigan Street on the city’s near-west side, was built on the site of a former iron works foundry. The project was announced a year ago.

The total cost of the project includes the value of grants, federal housing tax credits and site remediation. The city donated the land, which had been vacant since 1962, and paid for remediation with federal and state grants.

Mayor Greg Ballard, a former Marine, said the Lincoln Apartments represent the most recent addition to the city’s list of successful public-private partnerships.

“I am thankful for everyone involved for their work to honor our homeless military veterans with this project,” he said in a written statement.

Great Lakes Capital Fund arranged the sale of tax credits to provide $9.8 million in equity.

The development team included Building Blocks Non-Profit Housing Corp., Volunteers of America of Indiana Inc. (which will manage the facility), Milner and Caringella Inc., Roudebush VA Medical Center (located about a mile away) and Keystone Construction. The architect is Axis Architecture + Interiors.

Lincoln Apartments’ ribbon cutting fell on the 150th anniversary of President Lincoln’s Gettysburg Address.
 

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  • Hallelujah
    This is what cities all over the country should be doing for our veterans. We owe them for their sacrifice and our continued freedom. Thank you to all who made this happen.
    • Agreed
      I completely agree with you Chris. We owe this to our veterans.
    • Fantastic idea....
      Love the idea, love the support of our veterans, but who the heck builds a measly 75 units for $12,000,000.00?!? That's a lot of zeros. So, $160,000.00 per unit, right? Did Keystone take too much profit to build more units, or did we just flat out miss a great opportunity to serve more veterans by building, say 150 units, which is more in line with typical cost-per-units?
    • Remediation included in cost?
      Based on the article, remediation of the brownfield was included in the cost. There is not a separate accounting for the cost of that part of the project. I think this is a great project, but does it bother anyone else that the windows on this building are tiny? I can't imagine that would have added significantly to the cost of this project
    • Veterans
      It's sad the veterans have to be BABY-SAT 24/7 and mandated to VOA 12-step religious AA/NA cult 7 "Jesus Saves" proselytizing for the rest of their live...otherwise they are THROW BACK TO THE STREETS!
      • Yeah!
        This is a wonderful development for which Indianapolis and all involved should be greatly proud. It's heart searing to see homeless vets on our streets. We owe them assistance in finding their way back to a good civilian life.
      • It's Quite a Happy Thing!
        There is no mandate that anyone participate in a religious-based AA program. There are several alcohol and drug rehabilitation programs that have absolutely no religious component. Also, who the hell is "babysitting" anyone? Supportive housing is just what it sounds like, it supports individuals who need extra assistance because of drug and alcohol dependency or because of emotional and mental distress, such as PTSD. Before you mouth off next time, perhaps you should get a clue.
      • just curious
        Why can't they do something for the homeless with empty schools, such as IPS #21 in my area?
        • $$$$$$
          to Marsha: Probabaly because KEYSTONE wouldnt make out. They do not specialize in rehab.

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