Ground Broken on Evansville RAD Projects
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowIndianapolis-based Flaherty & Collins Properties and the Evansville Housing Authority have broken ground on two Rental Assistance Demonstration projects, totaling $18 million. Nearly 900 units will be rehabilitated throughout the city.
Flaherty & Collins says the total cost of the rehabilitation is about $18 million, which will be spread out over four phases. The projects are being funded through low-income tax credits and private investors.
"We are excited to take the lead on these unique and transformative projects," said Duane Miller, vice president of development and community asset management at Flaherty & Collins. "Programs like this bring incredible positive change to the community, and we’re excited to be at the forefront of making it happen."
The work being performed includes the installation of geo-thermal HVAC systems, interior and exterior building repairs and installation of new fire alarm systems, replacement of sanitary sewer risers, new signage and other maintenance as needed. Flaherty & Collins says each property will also become modernized and energy efficient.