The city of Indianapolis says a multi-million dollar federal grant received in 2008 has served as a major catalyst for urban revitalization efforts. The Department of Metropolitan Development reports the $29 million in funding helped spur $79 million in additional investment for rehabilitation of hundreds of properties, several parks and a youth center. November 22, 2013

News Release

INDIANAPOLIS, Ind. – The Indianapolis Department of Metropolitan Development (DMD) utilized a $29 million Neighborhood Stabilization Program (NSP) grant given in 2008 by the U.S. Department of Housing and Urban Development (HUD) to rehabilitate hundreds of properties across the city. DMD attracted an additional $79 million in public, private and non-profit investment to fund the projects in the areas of Mapleton Fall Creek, Indy East Asset Development, Englewood, South East Neighborhood Development/Concord and The Meadows.

In total, the City created 518 housing units, developed 12 pocket parks, demolished 301 vacant and unsafe structures, built one neighborhood youth center and purchased 620 vacant, tax foreclosed properties for future development. The NSP investment to these properties boosted assessed property values from $4.6 million in 2009 to $12 million in 2013.

“I was pleased Indianapolis received NSP funding because it provided an opportunity to show how well the City works with the private and non-profit sectors,” said Mayor Greg Ballard. “This was a responsible investment not only in struggling neighborhoods but also in the people who were willing to step up to do the right thing for Indianapolis residents. This endeavor should be an inspiration for future collaborations.”

Examples of major development projects completed are in the St. Clair Place, Avondale-Meadows and Englewood neighborhoods. The St. Clair Place neighborhood was part of the 2012 Superbowl Legacy Project. The project included 60 rehabilitated homes, the demolition and remediation of a hazardous commercial building, an office building renovation and the creation of six public parks.

The Meadows developed a $150 million, 100-acre mixed-use community which includes 600-700 housing opportunities for low, moderate and middle income families, community center for recreational, health, human and social services, a 5-acre park with green spaces, walking and biking trails, community gardens and a retail area with a grocery and other retail outlets.

The Englewood neighborhood project combines rental houses, urban gardens and the conversion of a former Indianapolis Public School into the new medium to low income Commonwealth Apartments. The 32 unit complex features a gymnasium, laundry facilities, public meeting rooms, a fitness room and a library.

The City partnered with the Indianapolis Neighborhood Housing Partnership (INHP), a housing counseling organization approved by HUD, to ensure housing investments remained stable. The INHP also provided a minimum of eight hours of homebuyer counseling to families purchasing NSP properties within the DMD approved NSP project areas.

Source: The City of Indianapolis

{{ articles_remaining }}
Free {{ article_text }} Remaining
{{ articles_remaining }}
Free {{ article_text }} Remaining Article limit resets on
{{ count_down }}