Three village hubs marked for investment

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Local Initiatives Support Corp. will funnel private-sector investments into three neighborhoods over the next six years under an initiative known as Great Places 2020.

The three places, unveiled Nov. 21, are East Washington and Oxford streets, 38th and Illinois streets, and West Michigan Street and King Avenue. Those three intersections were identified by LISC and its partners as having the potential to become village centers capable of anchoring vibrant neighborhoods by the city’s bicentennial in 2020.

otr-lisc-120114-15col.jpg The area near the intersection of East Washington and Oxford streets is one of three targeted for private-sector investment as part of the Great Places 2020 initiative. (Photo courtesy of Great Places 2020 )

“Through Great Places 2020, we want to revitalize town centers across Indianapolis,” said Bill Taft, executive director of LISC. “These centers will serve as vibrant focal points of neighborhoods that will provide identity and inspire renewed confidence in the future of the housing, businesses and institutions that surround them.”

The initiative has seven sponsors: JPMorgan Chase Foundation, BMO Harris Bank, Buckingham Foundation, Central Indiana Community Foundation, Indiana Housing and Community Development Authority, Metropolitan Indianapolis Board of Realtors and Reconnecting to Our Waterways.

The goal is to make the city more competitive by creating more vital urban neighborhoods with the appeal now enjoyed by neighborhoods such as Mass Ave, Fountain Square and Broad Ripple.

“As an original investor in the Great Places 2020 initiative, we are thrilled to help LISC launch its next phase to increase economic development opportunities and improve the quality of life for Indianapolis residents,” said Al Smith, chairman of Chase Indiana. “Creating strong, vibrant neighborhoods is critical for the success of our city and all of us.”

Four partners will help LISC carry out the initiative: Keep Indianapolis Beautiful, Indianapolis Neighborhood Housing Partnership, Indy Chamber and the city of Indianapolis.

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