A local developer plans to build a 46-unit townhouse project near Garfield Park for residents with modest incomes.
Indianapolis-based T&H Investment Properties LLC is expected to spend around $12 million on the project at 401 E. Southern Ave., which will be known as the Garfield Parkside Townhomes.
The 2.5-acre development would be split between seven buildings, according to filings with the city and a separate project slideshow obtained by IBJ.
The units—all of which are expected to have three-bedrooms—would be available to individuals and families making 30%, 50% and 60% of the area’s median income, with a maximum four-person family income of $70,000.
The units would start out as rentals, but T&H plans to permit residents to move forward with purchasing their units after several years on a lease.
Michelle Strahl-Salinas, director of the the South Indy Quality of Life Plan neighborhood organization, said the T&H development is intended to go hand-in-hand withefforts to create affordable, transit-oriented housing for south-side residents.
“We are very interested in transit-oriented development and trying to leverage resources around that,” she said. “So we see this as part of that revitalization.”
She said the firm plans to spend about $12.5 million for the development. The slideshow indicates a per-unit cost of about $255,000—or $11.7 million.
T&H is pursuing 9% Low-Income Housing Tax Credits from the Indiana Housing & Community Development Authority for the project, with a filing for the request due Sept. 18. It’s expected to find out in February whether it will receive the funds.
T&H is also involved in the redevelopment of the former St. John United Church of Christ building in Cumberland.
Each town house in the Garfield Park-area development is expected to include a carport, with an additional 19 parking spaces planned in front of two of the buildings. The community would also feature a community room, a playground and a small retail space.
The land for the project, which sits at the southwest corner of Southern Avenue and East Street, was acquired by the Indianapolis Neighborhood Housing Partnership in 2018 for about $630,000, according to property records.
The property was previously occupied by the Garfield Park Church of God.
T&H Investments and INHP are in the process of requesting a variance of development standards to ease setback requirements for the project, allowing it to be closer to the rights of way for both Southern Avenue and East Street.
The Board of Zoning Appeals approved the request Sept. 8, and it’s expected to go before the Metropolitan Development Commission in the coming weeks. If approved there, it will be up for final approval by the City-County Council.
Another variance will likely be required to move the project forward, although that’s not expected to be requested until funding is finalized. INHP is expected to eventually sell the land to T&H Investments.
Construction is expected to begin in October 2021, with completion slated for April 2023.
A representative for T&H did to return calls or emails requesting comment by Tuesday morning.