The “2,000 homes” dashboard—named after a pledge by Mayor Joe Hogsett to “rehab, transform, or demolish” 2,000 homes in two years— allows residents to see addresses of blighted homes, their owners, and the type of city intervention they have received or will receive.
Teachers’ Village in the St. Clair Place neighborhood will consist of 21 new or rehabbed houses priced below market, with the help of about $3.1 million in subsidies.
TWG’s plans for the near-east side could extend beyond the century-old Ford plant to include the adjacent building to the east that houses Ivy Tech Community College’s automotive program.
Most of the homes not-for-profit NEAR develops in the area are priced below market and sold to lower-income buyers. But it has constructed a handful of houses aimed at market-rate buyers, demonstrating the faith it and other builders have in the neighborhood.
Affordable housing advocates are worried that a bill lawmakers sent to Gov. Eric Holcomb will exacerbate what they say is a shortage of inexpensive options for Hoosier families.
Approved artists would co-own the renovated homes in the Garfield Park neighborhood and only pay half the cost of the property.
TWG Development’s plan to convert the century-old structure into senior housing units has hit a snag, as the project wasn’t awarded federal tax credits in the latest round of allocations.
Jennifer Green, an agency veteran who previously led the city’s efforts to develop Fall Creek Place, is the new president of Insight Development Corp.
A new study commissioned by the not-for-profit land bank Renew Indianapolis shows that just a tiny fraction of the city’s population is benefiting from renewed investment.
With assistance from Near East Area Renewal, the neighborhood has seen 90 new or refurbished homes come on the market since 2010. And that number is expected to grow to 100 next year.
The Indianapolis Housing Agency hopes more landlords will participate in the program.
The parent of City Securities Corp. has sold its biggest subsidiary to a New York-based real estate holding company, a move that’s expected to give the niche operation room to grow.
The money will be used to make repairs and improvements to public housing units, as well as providing housing counseling to struggling consumers.
For the fifth consecutive year, Hamilton County has been shut out of federal tax credits for affordable housing projects, while nearby counties have had success in the competitive program.
Marion County is suffering from a severe shortage of affordable housing and the inventory is not expected to increase anytime soon. The most popular financing option to help build affordable housing projects is so limited that only a small fraction of the developments get built.
The Westside Community Development Corp. is proposing to develop the 56-unit affordable housing project along Michigan Street as part of a larger effort to rejuvenate the area.
Two local not-for-profits have partnered to buy a dilapidated apartment building along the Meridian Street corridor south of 38th Street that was vacated last November due to health and safety concerns.
The Federal Home Loan Bank of Indianapolis, commonly known as a private-sector bank for banks, announced July 17 that it awarded $10 million in affordable-housing grants in Indiana and Michigan, including two $500,000 grants for projects in Indianapolis.
Only about 2 percent of the avalanche of residential units built in Hamilton County the last five years is dedicated to affordable housing.
Gary Hobbs and his wife, Lori, have built BWI LLC into a fast-growing developer of affordable housing with 48 employees and more than $10 million in annual revenue.
