'Workforce Housing' Plans Unveiled

Posted: Updated:
INDIANAPOLIS -

Goodwill of Central & Southern Indiana is partnering with Indianapolis-based Strategic Capital Partners LLC on a $28.5 million apartment complex focused on combating a "housing gap that needs attention." The 208-unit Riverview Apartments development is designed as workforce housing, which Goodwill Chief Executive Officer Kent Kramer defines as a place for renters who work downtown and earn between 61-120 percent of the median income of the area. Site preparations are underway on the four-acre property just west of the IUPUI campus and where many of the city's hospitals are located.

Stakeholders say the development is the first of its kind in the city, and in an interview with Inside INdiana Business, Kramer said the community, the city and local employers have been supportive. The development, he adds, will serve an important segment of the population. "It's these folks that are staffing our hospitals, these folks are staffing our schools. You know, they're working hard to get ahead," Kramer said. "If you make $35,000 a year or $40,000 a year, it is hard to find affordable housing within the city limits -- especially downtown." The rent for Riverview Apartments is expected to start at $600 per month and the near-west side location could help workers that have had to live in the suburbs -- teachers, medical professionals and public safety workers, for example -- reduce commute times and travel expenses to jobs that may already involve long shifts.

Strategic Capital Partners Senior Vice President Will Zink says "we understand it takes shared goals to make our city better and we are committed to creating value -- for our partners like Goodwill, our investors and the communities in which we do business."

The complex will serve as the gateway to the River West neighborhood, which was identified in 2016 as a focal point of the Local Initiatives Support Corp. of Indianapolis's Great Places 2020 initiative. Riverview Apartments will include studio, one-bedroom and two-bedroom units, as well as parking, a fitness center and outside amenities.

Goodwill of Central & Southern Indiana Chief Executive Officer Kent Kramer said the community, the city and local employers have been supportive.
  • Perspectives

    • Sink or Swim: How to Stop Sabotaging New Hires

      You've jumped through the hiring hoops and emerged with some transformational talent. Before joining your company, Joe slashed costs and doubled revenue at his previous job, and Sue is known for building record-breaking teams and product launches. It should take them no time to produce similar results in your organization, right? In reality, Joe and Sue’s performances will hinge heavily on how you manage their post-hire assimilation: a cycle all new hires experience, lasting...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • (photo courtesy Butler University)

      Aramark to End Operations at Butler

      Aramark Educational Services LLC has detailed plans to lay off 200 workers in Indianapolis. In a notice to the state, the company says the decision is the result of Butler University not renewing its contract to provide food services on the campus.

    • Metal Powder Products has Indiana operations in Noblesville and Campbellsburg.

      Manufacturer Growing Noblesville Operations

      Noblesville-based Metal Powder Products has announced plans to move a manufacturing division from Ohio to Hamilton County and add up to 80 jobs by 2020. The powder metallurgy product manufacturer says it will invest $1.5 million to increase production capacity in Indiana. The company currently employs more than 350 associates in its Noblesville and Washington County operations, and over 1,100 overall in the U.S. and China. MPP says it has already hired 51 employees as part of the...

    • Sink or Swim: How to Stop Sabotaging New Hires

      You've jumped through the hiring hoops and emerged with some transformational talent. Before joining your company, Joe slashed costs and doubled revenue at his previous job, and Sue is known for building record-breaking teams and product launches. It should take them no time to produce similar results in your organization, right? In reality, Joe and Sue’s performances will hinge heavily on how you manage their post-hire assimilation: a cycle all new hires experience, lasting...

    • Ting Gootee is the chief investment officer for Elevate Ventures.

      Indiana Lags Behind Neighbors on VC Investment

      A new report from Indianapolis-based Elevate Ventures says Indiana remains behind other states in the Midwest for venture capital investment. The 2018 Indiana Venture Report shows the state accounted for only 0.22 percent of all venture capital dollars last year. Ting Gootee, chief investment officer at Elevate, says while there is room to grow, Indiana is on the right path. In an interview with Inside INdiana Business, Gootee said a venture community requires different...

    • Chandler Speedway Auction Postponed

      The Chandler Speedway auction scheduled for this week has been canceled. Our partners at WEHT-TV report that track owner Reno Fontana has filed for bankruptcy in order to put a freeze on any debt collection, including sheriff's sales.