Affordable Housing Project Underway 7.29.11

INSIDE INDIANA BUSINESS

INDIANAPOLIS - City of Indianapolis Department of Metropolitan Development Director Maury Plambeck joined federal representatives and community partners to break ground on Lafayette Landings - a new senior housing project on the City's Near-Northwest side.
The $10.1 million development and neighborhood revitalization effort will provide 72 units to people over the age of 55 with limited incomes. The 47-year-old Ayr-Way mall currently on the site will be demolished to make way for the new apartment community at 2333 Lafayette Road.
"Public-private partnerships are transforming Indianapolis neighborhoods, and Lafayette Landings is a prime example of this," said Indianapolis Mayor Greg Ballard. "Strategic reuse of this site will support area revitalization efforts and help meet the needs of a growing senior population."
Funding for the development includes federal tax credits from the Section 42 program as well as Department of Housing and Urban Development (HUD) funding designated by the City for this project. $900,000 will come from the Neighborhood Stabilization Program (NSP), and $275,000 will come from HOME funds. Partnership for Affordable Housing, Inc. is the property developer, and Herman & Kittle Properties, Inc. is serving as the development services provider, general contractor and property manager.
"The Neighborhood Stabilization Program was designed to revitalize neighborhoods that desperately need redevelopment," said Congressman Andre Carson.  "The groundbreaking is another example of how federal dollars help rebuild neighborhoods and meet critical housing needs." 
Rents at Lafayette Landings are expected to range from $260 to $530 per month for a one-bedroom apartment.

"We are excited to bring a community of the caliber of Lafayette Landing at Kessler to the neighborhood," stated Julian Rodgers, President of Partnership for Affordable Housing, Inc."To be able to provide area seniors with safe, affordable housing options, while also ridding the area of an unsafe, vacant building is something we are very proud of."

About Partnership for Affordable Housing, Inc Partnership for Affordable Housing, Inc. (PAH) was formed back in 1991. Twenty years later operating as a 501(c)(3), PAH's mission is to provide affordable housing to the economically disadvantaged residents in the State of Indiana. Partnership for Affordable Housing currently provides affordable housing in Bluffton, Columbia City, Madison, Newburgh, and Warsaw, Indiana. Lafayette Landing at Kessler will be PAH's first community in Indianapolis. For more information call (317) 580-2537 or email PAH@hi-mgmt.com.
About Herman and Kittle:
Herman & Kittle Properties, Inc. develops, builds, owns and manages affordable rental housing throughout the Midwest and South. From its headquarters in Indianapolis, the company is involved in over 7,000 apartment homes in eight states. For more information call (317) 846-3111 or visit www.hermankittle.com
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