FHLBank Indy Awards $11M in Housing Grants

The Pathway Transitional Housing Preservation Project will involve the renovation of two of Pathway to Recovery’s properties in Indianapolis. (photo courtesy of Pathway to Recovery)

The Federal Home Loan Bank of Indianapolis has awarded $11.2 million in Affordable Housing Program grants to support access to housing. The bank says the grants will be used to purchase, construct or rehabilitate properties for use as affordable homes in Indiana and Michigan.

FHLBank Indianapolis says it awarded a total of 24 grants to affordable housing developments, which will help create or rehabilitate more than 1,000 affordable housing units.

“We are excited to share this year’s affordable housing grant recipients. Like previous years, most of these developments include a direct financial involvement from our members,” said MaryBeth Wott, community investment officer at FHLBank Indianapolis. “Through their partnership, our members are using AHP grant dollars to close the development gap and help create more units of affordable housing in the communities they serve.”

Grant recipients include the 201 Westplex project in Bloomington, which will renovate a building with 84 emergency shelter beds, CASS Housing in Fort Wayne, which will develop 10 affordable housing units, and the integrated Central Greens development in Indianapolis, which will create 156 new construction units for rental housing.

The bank says this year’s awards prioritized developments that feature preservation, infill development and blight elimination, as well as targeted community investment areas.

You can find more information and view the full list of recipients by clicking here.