INDIANAPOLIS — The Indiana Housing and Community Development Authority’s (IHCDA) Board of Directors recently approved $19 million in combined funding for Englewood Community Development Corp. and Old Town Companies & Merchants Affordable Housing Corp. to create integrated affordable housing for persons with developmental disabilities through their participation in the Moving Forward 2020 Program.
The IHCDA Board of Directors approved $950,000 in 10-year Rental Housing Tax Credits (RHTC), along with Development Fund loans not to exceed $500,000 for both new developments, making the total investment $19 million. Construction on these two new affordable housing developments is expected to start next year.
Recipients were North End Apartments, developed by Old Town Companies in partnership with Village of Merici, is a proposed 40-unit, mixed-income, family oriented, integrated affordable housing development to be located in Carmel. Passage, developed by Englewood Community Development Corporation in partnership with Noble of Indiana, is a proposed 39-unit family oriented, integrated affordable housing development to be located in Indianapolis. The proposed unit mix contains one, two and three-bedroom units. A total of eight (8) units will be set aside specifically for those with intellectual and developmental disabilities. The development will also include an on-site integrated career center with training opportunities and other technology features to promote greater independence.