Georgia-based developer Integral Community Development has secured $17.3 million in federal financing for an assisted living facility in Indianapolis. The funding from the Department of Housing and Urban Development’s Low-Income Tax Credit program will support the 124-unit Oasis at 56th. The more than three-acre property is located on the city’s northwest side and financial coordinator Walker & Dunlop Inc. of Maryland said the development is one of a handful of facilities of its kind in the country financed through an LIHTC.
Integral Community Development President Vicki Lundy Wilbon says "Oasis will prove to be an important part of the Indianapolis community." The development joins Oasis at 30th, a sister assisted living property in Indianapolis. Oasis at 56th is slated to be complete next year and serve low-income seniors. Planned features include four-stories with 73 one-bedroom and 51 studio apartments with a living area, accessible bathrooms and kitchenettes, as well as community amenities like a commercial kitchen with dining area, resident and personal care rooms, laundry facilities, an exercise room and café. The developer says residents will have access to a 24-hour staff.