Housing

Avondale2Building homes that are affordable to a wide range of people is a cornerstone of LISC’s community development work. High-quality rental and home ownership opportunities provide fuel for all aspects of neighborhood revitalization and help rebuild Indy’s population.

LISC provides technical assistance, predevelopment, and construction financing to help neighborhood organizations and developers create affordable homeownership and multi-family rental housing options. Our goal is to provide a range of safe, affordable places to live in our neighborhoods. To find out more about
LISC’s housing finance tools, click here.

 

Here are just a few of the developments that LISC Indianapolis has provided pivotal financial support for:

Clifford-Corners – LISC Investment: $187,520 predevelopment & acquisition loan

Clifford Corners is one of the many highlights of the East 10th Street Corridor renewal. This three-story building offers 32 stylish apartments, has four book-end condominiums, and offers 12,000 square feet of neighborhood-serving retail and community service space. Other improvements in the neighborhood will include the completion of Legacy Plaza, an activated urban green space, and the restoration of the historic Rivoli Theatre.

Irvington Lofts – LISC Investment: $30,000 flexible predevelopment loan

Irving Lofts is the Irvington neighborhood’s first new multi-family construction in 50 years. The project is in a highly walkable area, is served by the second most active bus line in the city, and is targeted for a future Rapid Bus transit corridor. The Irvington Development Organization (IDO), co-developer and general manager for the project, strongly supports sustainability. It ensured that the 50-unit, affordable apartment complex would be complementary to the surrounding architecture and be environmentally friendly, with a minimal carbon footprint.

Avondale Meadows – LISC Investment: $14 million tax credit equity investment

The East Village at Avondale Meadows is giving new life to a formerly blighted neighborhood on the 38th Street corridor in northeast Indianapolis. The development includes over 248 units of mixed-income apartment homes. Seventy percent are reserved for tenants who meet low- and moderate-income requirements, and the remainder are market rate. East Village is the first phase of a master-planned community expected to offer more than 800 mixed-income apartments, townhomes and single-family homes as well as 140,000 square feet of commercial space, a five-acre park, green spaces, community gardens, walking and biking paths and a 75,000 square foot community center.

In all, since 1993, LISC has supported over fourteen neighborhoods to improve and maintain quality housing options. More than 7,077 units of housing have been build or improved – helping to make our urban neighborhoods great places to live for more people.

For more information, please contact:

Aaron Laramore
Program Officer
317.454.8489
alaramore@lisc.org

 

For additional information and more resources, check out our Program Partners under Housing.