Two low-income housing projects receive state tax credits

Tax credits were approved for a part of the Wigwam project in 2017.

ANDERSON — Two county housing developments in Anderson and Elwood received state Rental Housing Tax Credits to provide low-income housing.

The Fieldhouse Apartments, a $12.2 million development at the Wigwam complex, were awarded a little over $1 million in tax credits and another $765,000 in housing trust funds through the Indiana Housing and Community Development Authority.

“Ultimately, we think it’s going to be an additional spark for continued development for the area and the Wigwam complex particularly,” said Gary Hobbs, CEO of Black and White Investments.

BWI is partnering with local non-profits JobSource and Aspire Indiana to develop the project that will pair residents with programs including job creation initiatives, pathways to self-reliance and healthy lifestyle programs, through the Wigwam Talent Development Center.

“The programming available at the Fieldhouse Apartments and the Wigwam Talent Development Center is to ensure residents have opportunities to progress along a pathway to self-sufficiency and higher wage opportunities,” Hobbs said.

The housing development, which will be built on the athletic field west of the Wigwam at 1229 Lincoln Avenue, and offer 42 single-bedroom and two two-bedroom units. The units will be set aside for residents making between 30 and 60 percent of the area median income.

Hobbs said he hopes the housing project will act as a catalyst for more changes at the Wigwam, which is also set to host the new Jane Pauley Health Center, opening this summer, and the Wigwam Talent and Development Center.

The Lofts at Leeson’s, Elwood

A senior living community set to redevelop the former Leeson’s building in Elwood as well as several housing lots demolished in the city’s blight elimination program received $699,200 in tax credits and $500,000 in development funds through the IHCDA program.

The Lofts at Leeson’s project being developed by New Hope Services will offer a mix of two-bedroom units spread across 23 apartment units in the former business building as well as 23 duplexes and one triplex set to be built on demolished lots throughout the town.

The total projected cost of development is $10.1 million.

The Leeson’s apartment building is also set to include a restaurant, rooftop garden, fitness center and community room.

“This project will be the catalyst for the revitalization of Elwood's central business district,” said Elwood Planning Director Bill Savage.

Elwood Mayor Todd Jones said the investment from New Hope Services “proves Elwood is moving in a positive direction.”

The purpose of the Rental Housing Tax Credits is to offer developers incentives to offer affordable rental housing options, according to an IHCDA press release.

This year the IHCDA awarded 16 projects a combined $13.9 million in credits and $5.8 million in additional funding to provide more than 700 units of affordable housing for residents across the state.

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