FOR IMMEDIATE RELEASE
Mayor Hogsett, INHP and Davis Homes join Old Southside neighborhood to start construction on new, affordable single-family homes
Six of 13 new homes to be built in 2019 as part of Hogsett Administration’s Lift Indy grant focused on neighborhood development
INDIANAPOLIS – Today Mayor Hogsett joined the Indianapolis Neighborhood Housing Partnership® (INHP), Davis Homes and the Old Southside Lift Indy steering committee to officially start construction of six of 13 affordable single-family homes in the Old Southside neighborhood. The homes are being built as part of the $4 million Lift Indy community development grant, administered by Mayor Hogsett in 2018.
“Our goal with Lift Indy is to partner with neighborhoods in need of funding to solidify growth and development,” said Mayor Joe Hogsett. “By using a strategic investment of public funds, we support economic development opportunities like creative place-making, infrastructure updates, greenspace and other quality of life amenities that make up a neighborhood. Today, that means the beginning of construction for six new affordable homes here in the Old Southside.”
As part of the Old Southside’s grant proposal, INHP has agreed to manage development of the homes, which will be located at 20 Iowa St., 1814 S. Delaware St., 1725 S. Meridian St., 1226 Talbott St., 1437 Talbott St., and 1909 S. Talbott St. INHP and the City are using federal HOME Investment Partnerships Program funding to build the homes. Buyers who qualify are given a fair market value price reduction, which discounts the home’s purchase price without impacting its appraised value. The fair market value price reduction is available to buyers earning up to 80% area median income (AMI). That means a household of four with a combined income of $63,900 would qualify for a discount.
“We are excited and grateful for this opportunity to continue our efforts to develop affordable housing options for Marion County,” said Joe Hanson, executive vice president, strategic initiatives, at INHP. “The neighborhood approached us with a vision and plan, and through it, we found perfect alignment with our goals to address Indianapolis’ affordable housing shortage while continuing to provide access to the mortgage market and giving people the power to choose where they want to live.”
The homes have been designed with input from the neighborhood and will be constructed by Davis Homes. Each two-story home will feature three bedrooms and two baths totaling approximately 1,500 square feet.
Construction of the new homes is only one milestone to the ongoing projects in the neighborhood. An affordable home repair loan program for current Old Southside homeowners, managed by INHP, began in April. Architect firm Browning Day Mullins Dierdorf held a design plan meeting with neighbors to collect feedback and ideas for renovations to Kelly Park, which is slated for completion in fall 2020. Placemaking enhancements to South Meridian Street are also being considered with the help of Stadium Village Business Association that will encourage more economic development.
“It’s an exciting time for the Old Southside,” said Judith Essex, community and economic development lead for the Old Southside Neighborhood Association. “In addition to the wonderful organizations like INHP, Indianapolis Neighborhood Resource Center and Riley Area Development Corporation, the City of Indianapolis has been an incredible partner. Our mayor’s advocates and other staff have always been ready and available to help with every project or concern. This Lift Indy Grant is truly a turning point for the Old Southside Community and I can’t begin to thank everyone who lent a helping hand over the past few years.”
The first six homes will be listed for sale at 11 a.m., Tuesday, Aug. 27. For more information about the homes, visit //INHP.org/homes-for-sale, or contact the listing agent, Joe Sullivan, at 317-670-5979.
The Indianapolis Neighborhood Housing Partnership® (INHP) increases affordable and sustainable housing opportunities for individuals and families in Marion County, and serves as a catalyst for neighborhood revitalization. INHP enables families to become and remain long-term, successful homeowners through homebuyer education, mortgage and credit advising and lending services. INHP also provides thought leadership, technical assistance, financial support and programming to community partners dedicated to neighborhood revitalization. For more information, visit INHP.org.