Lt. Gov. Crouch, IHCDA announce $11.7M in grants and loans for affordable housing

Lt. Gov. Crouch, IHCDA announce $11.7M in grants and loans for affordable housing

Lt. Gov. Suzanne Crouch and the Board of Directors for the Indiana Housing and Community Development Authority (IHCDA) announced eight projects have received over $11 million in awards from the HOME Investment Partnerships Program (HOME). This funding is used for the construction and/or rehabilitation of affordable rental housing for low and moderate-income residents.
IHCDA is committed to creating and preserving affordable housing across the state and this round of HOME funding directly addresses that mission,” said Lt. Gov. Crouch, Indiana’s Secretary of Agriculture and Rural Development. “Affordable housing is vital to Indiana’s infrastructure, and we will continue to work to close the housing gap and ensure housing remains affordable for all Hoosiers.”

The following projects will receive HOME funding:

  • Stony Creek Duets, developed by Hamilton County Area Neighborhood Development, Inc., will receive $1.33 million in HOME awards and will build six affordable rental units in Noblesville
  • MC Eastside Apartments, developed by Housing Opportunities, Inc., will receive $1.5 million in HOME awards and will rehabilitate nine affordable rental units in Michigan City
  • Shoots Apartments, developed by Lacasa of Goshen, Inc., will receive $1.5 million in HOME awards and will rehabilitate 16 affordable rental units in Goshen
  • 107 Lakeview Drive Apartments, developed by Lacasa of Goshen, Inc., will receive $1.45 million in HOME awards and will build eight affordable rental units in Goshen
  • Oakland Gardens II, developed by New Hope Development Services, Inc., will receive $1.5 million in HOME awards and will build eight affordable rental units in Oakland City
  • White River Landing III, developed by New Hope Development Services, Inc., will receive $1.44 million in HOME awards and will build six affordable rental units in Petersburg
  • The Lofts on Avon Avenue, developed by Radiant Communities Development Corporation, Inc., will receive $1.5 million in HOME awards and will build seven affordable rental units in Avon
  • Bellevue Village Apartments, developed by Rauch, Inc., will receive $1.5 million in HOME awards and will build 10 affordable rental units in Scottsburg

“Affordable housing is essential to any community’s growth and vibrancy,” said IHCDA Executive Director Jake Sipe. “The projects funded by these HOME dollars will create and restore dozens of units, greatly benefitting the Hoosiers who live, work and play in those communities.”

HOME funding can also be used for capacity building activities for Community Housing Development Organizations (CHDOs). CHDOs are IHCDA-certified not-for-profit housing organizations that meet certain HOME regulations and are eligible to receive HOME funds to use as an operating supplement when carrying out a HOME-funded development.

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