Ribbon Cutting Set For Senior DevelopmentPosted: Updated:
Governor Mike Pence is set to join city officials and investors to mark the opening of an $8.5 million housing development this afternoon in Indianapolis. First Devington features 48 apartments, a group fitness facility and an indoor aquatic center for low-income seniors. July 17, 2013
INDIANAPOLIS, Ind. -
WHO: Black and White Investments, LLC (BWI) & Great Lakes Capital Fund (GLCF)
WHAT: Grand Opening Celebration
WHEN: Thursday, July 18, 2013
WHERE: 5940 Staughton Drive, Indianapolis, IN 46226
INVITED/CONFIRMED GUESTS INCLUDE:
-Governor Mike Pence
-Mayor Greg Ballard
-Hollywood Actor and Comedian, Mike Epps
-Several other City and State dignitaries
BWI, in partnership with Great Lakes Capital Fund, recently invested $8.5 million to build First Devington Apartment Homes in Indianapolis. First Devington will provide 48 homes for seniors, many of whom live on fixed incomes, with six homes being reserved exclusively for disabled seniors. Some of the unique features of the project include an indoor aquatic exercise pool, walking trail, and a group fitness facility for the seniors.
The development team for this exciting project includes: BWI, developer and general partner; T&W Corporation, project contractor; MAS Architects and Design w/Purpose, architects; Sterling Management, property management; Kuhl & Grant, LLP, developer’s counsel; and JMK Development, project consultant.
Other financing partners for First Devington include: PR Mortgage, Indiana Housing and Community Development Authority Development Fund, and City of Indianapolis HOME fund.
Great Lakes Capital Fund (GLCF) is a full service community development finance institution that has been in operation for 20 years and manages over $2.7 billion in the community redevelopment space. This includes successfully investing in over 500 affordable housing developments representing 35,000 units which have served over 60 thousand low to moderate income people. In addition to its housing investments, it is managing over $300 million of New Markets Tax Credits in economic development. GLCF also provides lending services through its role as a Fannie Mae Affordable Housing lender and FHA affiliations. www.capfund.net
Black & White Investments (BWI) is a full service urban development and construction management firm that has been in operation for 8 years. BWI has a strong portfolio of multi-family and commercial properties that it develops and manages. BWI has a unique process and methodology of community engagement, vocation training and workforce development, market and requirements analysis, and project management that ensures its successful execution of community development activities in urban areas throughout the Midwest. www.bwillc.com
Source: Great Lakes Capital Fund
July 17, 2013
INDIANAPOLIS, Ind. - Tomorrow, Governor Mike Pence will join Hoosiers in Marion and Knox counties. Details below.
Thursday, July 18:
5:00 p.m. EDT - Governor Mike Pence to offer remarks at the First Devington Apartment Homes grand opening. The apartment home community provides affordable housing to individuals ages 55+.
First Devington Apartment Homes, 5940 Staughton Drive, Indianapolis, IN
7:30 p.m. EDT - Governor Mike Pence to offer remarks at grand opening of the Red Skelton Museum of American Comedy
Red Skelton Museum of American Comedy, 20 Red Skelton Boulevard, Vincennes, IN
Source: The Office of Governor Mike Pence