Although housing is still a major challenge to revitalizing Indianapolis’s urban neighborhoods, improving the quality, variety, and availability of neighborhood housing is still a pillar of LISC's revitalization strategy. Over the past three years, LISC has not only supported numerous housing projects financially, but has also organized project development training focused on tranformational-scale, mixed-income homeownership and rental projects around the city.
In 2010, we provided $145,000 in recoverable grants, $77,520 in loans, and $28,000 in other grants for these types of projects. Additionally, LISC affiliate National Equity Fund (NEF) provided a $14 million net equity investment in the East Villages at Avondale project on the northeast side.
LISC accomplishes this by providing technical assistance, predevelopment funds, and construction financing to help neighborhood organizations and developers create affordable homeownership and multi-family rental housing options. We want to help make sure everyone in our urban neighborhoods has a safe, affordable place to live.
In all, since 2008, LISC has supported a total of fourteen neighborhoods which strive to improve and maintain quality housing options. More than 900 units of housing have been build or improved -- helping to make our urban neighborhoods great places to live for more people.