INDIANAPOLIS — City leaders, Indianapolis Neighborhood Housing Partnership (INHP) and community members broke ground on a new, affordable housing development on Indy's north side, called Arnold Place.
33-unit townhomes will be built on the former Colonial Bakery Truck maintenance lot near 25th and Winthrop Avenue.
Per the release:
It is one of four parcels in the City of Indianapolis’ 25 [indy.gov]th [indy.gov]and Monon Vision Plan [indy.gov] outlined as opportunities to transform formerly blighted properties into productive neighborhood assets. As part of Mayor Hogsett’s goal of creating and preserving affordable housing in neighborhoods that have experienced discriminatory housing and land use policies, the Department of Metropolitan Development released a Request for Proposals, calling for redevelopment opportunities that align with the 25th and Monon Vision Plan. INHP acquired the land from the City of Indianapolis and Intend Indiana, and has partnered with Onyx+East to design and build the development.
The city said the site will be home to one of the largest affordable homeownership projects in Indianapolis in decades. It's housing community says it is much needed.
"The neighborhood was run down. Now, it's reversing itself. It's going to be a great neighborhood and a proud place to live in Indianapolis, Arnold Place," said Albert Arnold.
Arnold Place will be a community of 33-unit townhomes off Winthrop Avenue and a place the city said residents will have the opportunity to become a homeowner at an affordable cost.
"It's 51% for those making under 80% of area median income. It's about $51,000 for a one person family so thinking about affordability here to add to the vibrancy of the neighborhood, amenities. It's steps away from the trail," said Director of DMD, Rusty Carr.
First move-in's are expected in mid- 2024.
Affordability is key to this property, but so is the name. It's named after centenarian, Albert Arnold. He said it's an honor.
"I've spent 101 years waiting for this day," said Arnold.
He lives about a block away from the future home of Arnold Place.
The proud Reagan Park resident has been dedicated to his church and community for nearly 70 years.
He's setting an example for the future men and women who will live there.
"There's opportunity for them. Anything they want to be they can be in this neighborhood," said Arnold.
"We work through neighborhood context. We want residents who are low income or 80% AMI to be able to buy the home or if they choose to sell that or pass to their child
or they get a lot of equity and wealth built to that. Home ownership is a way to build wealth in America and this is an opportunity for those who don't make as much as those who rest to afford market rate have opportunity to do that," said Carr.
The city and Indianapolis Neighborhood Housing Partnership asked people who live in the neighborhood what they wanted to see at the site.
"Authentic and Real. We have real conversations about what they want to see here. Affordability is important. A lot of credit goes to our team. Residents through global pandemic. It involved trail markers, text messages, multiple zoom calls. I can't thank them [the team] enough and community," said Carr.
"Generally, in our area we have single family homes or big multifamily rental developments. There is not a lot of duplexes, quads, and townhomes like this for home ownership, so it's a real need and helps fill a gap in the community," said INHP CEO, Gina Miller.
"It's transformative for the neighborhood. We've been making significant announcements over the course of last months about greater opportunities for affordable housing for the city of Indy. You cant build affordable housing fast enough," said Mayor Joe Hogsett.
"At this point in time. Our city faces a critical challenge with housing costs making it difficult for working families to secure a safe comfy place to call home. This issue is made worse by out of state investors purchasing homes contributing to displaced and gentrification of our neighborhoods. This challenge impacts not only low income young professionals, seniors on fixed incomes and countless others. Arnold Place serves as beacon from Reagan Park and Martindale-Brightwood to purchase a home right where they grew up," said City-County Councilor Zach Adamson.
The Indianapolis African American Quality of Life initiative and National Bank of Indianapolis are also partners on this project.
Arnold Place is made possible through $12 million dollars in funding.
"A lot of credit goes to our partners. A lot of times we breaking ground on different apartment projects, but here we are also breaking ground on home ownership projects through city and his one being 33 units is really exciting for the community," said Carr.
