An area on the near-north side of Indianapolis has been chosen for a city program that infuses federal community development funds into a neighborhood for a period of three years to propel revitalization.
The so-called “Near North Corridor” is one of two Lift Indy areas picked for 2021, the city announced Tuesday. The other area will be announced sometime in early 2021.
Each area will receive about $3.5 million in funding over the next three years from the U.S. Department of Housing and Urban Development Home Investment Partnership Program and the Community Development Block Grant program.
For the first time since the program’s launch in 2017, the city is choosing two neighborhoods, due in part to the impact the COVID-19 pandemic has had on some neighborhoods.
The Near North Corridor encompasses a large area north of downtown just west of Meridian Street north to 38th Street.
The areas will be required to invest the funding in initiatives that address the impacts of the pandemic.
The Near North Corridor plans to invest Lift Indy funds in the following programs:
– The Excelsior will be developed by the Near North Development Corp., with financial investment from the Indiana Housing and Community Development Authority and IU Health, creating 80 units of affordable rental housing and a neighborhood services center at 22nd and Illinois streets. The land was acquired through the Indianapolis Neighborhood Housing Partnership’s equitable transit-oriented development fund.
– Near North Development also plans to develop Capitol Gardens in partnership with INHP and IU Health at 21st and CapitolAvenue. The project includes a 108-unit mixed-income apartment project, 30 townhouses for ownership, and more than three-quarters of an acre of community gardens and greenspace.
– We Bloom’s Recovery Cafe Indy will develop a culinary and barista training program.
– Expansion and enhancement of the Indiana Plan program, which provides pre-apprenticeship training, mentoring, and job placement services to increase opportunities for minorities, women, and disadvantaged individuals in the skilled union construction trades.
– A homeowner repair loan program and homebuyer education administered by INHP.
The Near North Corridor joins three previously designated Lift Indy neighborhoods: Monon16, the Old Southside, and East 10th Street. To identify the Lift Indy areas, the city used data provided by the Reinvestment Fund to identify locations where a multi-year commitment of funding would drive market activity and investment while supporting neighborhood revitalization.
Projects were selected from a pool of applicants and then chosen by a selection committee consisting of leaders from the city, not-for-profit and business communities.