INDIANAPOLIS — City officials recently announced that the East 38th Street Corridor is the city’s next Lift Indy neighborhood. Since 2017, the city has designated and funded a new Lift Indy area, with neighborhood coalitions defining the challenges facing the communities they serve and propose responsive solutions utilizing Community Development Block Grant (CDBG) and HOME Investment Partnership funding. The 38th St. Corridor will be focused on the east side.
Lift Indy-supported multi-year projects and programs for the East 38th Street Corridor focus on homeownership, the development of affordable rental units, placemaking, and economic development. Led by the United Northeast Community Development Corporation (UNEC) and the Indianapolis Neighborhood Housing Partnership (INHP), the East 38th Street Corridor coalition consists of Equity 1821, Cook Medical, Indy Fresh Market, Building & Impacting Communities, Inc., Horizon Bank, and Flaherty & Collins Development.
The City’s award for the East 38th Street Corridor Lift Indy neighborhood includes $2 million for homeownership opportunities. UNEC and INHP will lead the expansion of homeownership opportunities, developing five single-family properties on the northern portion of 5640 E. 38th St., a property that had been purchased by INHP for its equitable transit-oriented development program. In addition, INHP will use a portion of the funding for 10 Market Expander mortgage loans for homebuyers earning up to 80% area median income (AMI) who are interested in purchasing a home in the designated area. Overall, the Lift Indy partnership will create 305 affordable rental units along the East 38th Street Corridor.
In partnership with Indy Parks, the Lift Indy coalition and City will fund neighborhood park improvements.
Lastly, the East 38th Street Coalition will partner with Cook Medical, with $50,000 awarded from DMD, to launch programming for financial readiness and skill training for entrepreneurs and organizations. In addition to workforce development, the City awarded $50,000 for UNEC, Indy Fresh Market, and Equitable Food Access Initiative to provide food access programming to the East 38th Street Corridor.
The East 38th Street Corridor area follows seven other Lift Indy designations: Monon16, Old Southside, East 10th Street, Near North, Martindale-Brightwood, Mid-North, and Far Eastside.
