updated: 11/8/2012 3:31:11 PM

Homeless Vet Housing Moves Forward

InsideINdianaBusiness.com Report

Officials have broken ground on what the city of Indianapolis calls its first permanent supportive housing facility for homeless veterans. Lincoln Apartments will provide housing and services to 75 area homeless vets.

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November 8, 2012

News Release

Indianapolis, Ind. -- Partners across public and private sectors joined the greater Indianapolis community today to break ground on the city's first permanent supportive housing facility for homeless veterans. Lincoln Apartments, to be located at 530 Holmes Ave., will provide housing and services to 75 formerly homeless veterans in Indianapolis.

"Lincoln Apartments honors and helps those who have given of themselves to protect our freedoms," said Mayor Greg Ballard. "This supportive housing facility is a symbol of our compassion and responsibility for these homeless veterans."

The site has sat vacant since 1962 when the iron works foundry formerly located at the property closed. The City of Indianapolis donated the land and remediated environmental problems with $450,000 in grants from the Environmental Protection Agency (EPA) and the Department of Housing and Urban Development (HUD) and $50,000 from the state brownfields program. The City also contributed $500,000 of HOME funds from HUD. Federal Home Loan Bank of Indianapolis made an AHP Award of $500,000 through its member bank, the National Bank of Indianapolis. Other partners in the project include the Indiana Housing and Community Development Authority (IHCDA), which allocated federal housing tax credits along with an additional $300,000 grant to finance the deal. Great Lakes Capital Fund (GLCF) syndicated the purchase of these tax credits to provide $9.8 million in equity for Lincoln Apartments.

The project is within a mile of Roudebush VA Medical Center and immediately north of a community health center on the City's Westside. The development team, who participated in the 2011 Indiana Permanent Supportive Housing Institute, includes: Building Blocks Non-Profit Housing Corporation (a non-profit affiliate of GLCF); Volunteers of America of Indiana, Inc.; Milner and Caringella; Roudebush VA Medical Center; Keystone Construction; and Axis Architects.

"Volunteers of America is pleased to be part of this innovative and much-needed project," said Tim Campbell, CEO of Volunteers of America of Indiana. "Creating a sense of home with permanency will transform the lives of these true American heroes."

The Indiana Permanent Supportive Housing Initiative (IPSHI) launched in 2008 to address the need for permanent supportive housing, which provides housing and services to the chronically homeless. IPSHI is a collaboration between IHCDA, the Corporation for Supportive Housing (CSH), Division of Mental Health and Addiction, and the Great Lakes Capital Fund. As a part of IPSHI, the Institute is an intensive, interactive, technical training to help organizations move projects from concept to completion.

"After CSH showed us the tools available to us as developers and financing agents, we were anxious to get to work and get our veterans off the streets and into facilities they could get the help they need," said Mark McDaniel, President and CEO of GLCF.

Volunteers of America of Indiana will coordinate continuing care once the facility is open and serving Indiana veterans.

Services will focus on continued stabilization of housing for veterans and their development of skills, including healthy lifestyles, relationship building/reunification, appropriate utilization of community resources, employment counseling, improved financial stability and community involvement. Participation in services is voluntary and is based on those areas veterans seek to make changes in their lives.

Lincoln Apartments will be fully furnished upon opening in Fall 2013. While bedroom furnishings have been provided, common areas and special purpose rooms are not yet furnished. The public may contribute to The Lincoln Apartments Gift Registry at http://bit.ly/ON15YF. This website will be updated with pictures and stories about Lincoln Apartments and its future veteran residents.

A dedication ceremony for Lincoln Apartments is planned for November 19, 2013, the 150th anniversary of President Lincoln's Gettysburg Address.

About GLCF:
Great Lakes Capital Fund helps socially responsible corporations invest in affordable housing and community economic development activities. GLCF raises capital from corporations and financial institutions, and invests these resources into real estate development partnerships in Michigan, Minnesota, Illinois, Indiana, Wisconsin and upstate New York. The partnerships receive essential equity for their developments. The investors receive a competitive internal rate of return on their investment through tax benefits; and the community receives high quality, affordably-priced housing and/or commercial developments that generate social and economic benefits for area residents. For more information please visit http://capfund.net.

About VOA:
Volunteers of America is a national, nonprofit, faith-based organization dedicated to helping those in need live healthy, safe and productive lives. Since 1896, our ministry of service has supported and empowered America's most vulnerable groups, including seniors, people with disabilities, at-risk youth, men and women returning from prison, homeless individuals and families, those recovering from addictions and many others. Through hundreds of human service programs, including housing and health care, Volunteers of America helps more than 2 million people in over 400 communities. We offer a variety of services for older Americans, in particular, that allow them to maintain their independence and quality of life - everything from an occasional helping hand to full-time care. Our work touches the mind, body, heart and ultimately the spirit of those we serve, integrating our deep compassion with highly effective programs and services. Learn more at www.voa.org.

Source: Great Lakes Capital Fund

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