Affordable housing project in Illinois showcases community services and funding partners

The City Council of Indianapolis recently discussed a significant affordable housing project that aims to enhance community support and services for residents. This initiative focuses on providing housing for individuals and families earning between 30% to 60% of the area median income (AMI), addressing a critical need for affordable living options in the city.

The project, which has a total cost of $13.6 million, successfully preserved 34 existing affordable housing units while also creating a new fourplex and two single-family homes. This dual approach not only maintains current housing stock but also expands the availability of affordable options. Funding for the project came from various sources, including 9% tax credits, a DFL loan from the Illinois Housing Development Authority (IHDA), American Rescue Plan Act (ARPA) funds, a grant from the Urban League, and a seller note from the Westside Community Development Corporation (WCDC).

As construction progresses, the completed 34-unit building is already leased and serving residents, with the two single-family homes finished and the fourplex expected to be completed in the coming months. The project also emphasizes the importance of community services, proposing a payment-in-lieu-of-taxes (PILOT) schedule that would allocate about 20% of calculated taxes to support these initiatives.

The community center associated with the housing project will offer a variety of services aimed at improving residents' quality of life. These include meal programs providing breakfast and lunch three days a week for seniors, financial management assistance, transportation for shopping and medical appointments, and access to gardening and nutrition classes. Additionally, fitness activities such as yoga and Zumba will be available on-site, promoting health and wellness among residents.

The project also collaborates with local service providers to ensure comprehensive support, including partnerships with Meals on Wheels and neighborhood watch programs. This multifaceted approach not only addresses housing needs but also fosters a sense of community and well-being among residents, making it a vital development for Indianapolis.

As the project moves forward, it represents a significant step towards meeting the affordable housing demands in the city while enhancing the overall community experience for its residents.