INDIANAPOLIS — On Tuesday, CVS Health was joined by Mayor Hogsett and Englewood CDC to announce an investment of $10 million to affordable housing in Indianapolis.
The company plans to build a 48-unit multi-family affordable housing community called St. Lucas Lofts on the near east side by New York St. and Rural St.
The community will be open to families earning 30 percent, 50 percent and 60 percent of the Area Median Income.
"The St. Lucas Lofts will be more than just a home, it will be a dream come true for these young people. It will become the very foundation to helping them move one step closer to their hopes and dreams,” LaMar Holliday, Outreach Inc. board member, said. “It will become their reality that sky is truly the limit when it comes to having a better life.
The city of Indianapolis contributed $2 million to St. Lucas Lofts specifically for the development of 10 permanent supportive housing units for the homeless youth of Outreach, inc., a nonprofit organization dedicated to helping homeless teens and young adults.
"The St. Lucas Lofts will be more than just a home; it will be a dream come true for these young people. It will become the very foundation to helping them move one step closer to their hopes and dreams,” Outreach Inc. board member LaMar Holliday said. “It will become their reality that sky is truly the limit when it comes to having a better life.
“Housing is one of the biggest issues facing our city today. It impacts nearly every other major challenge that we face,” Mayor Joe Hogsett said. "These are students finishing high school, these are first time job applicants, these are people hoping to stabilize long enough to begin earning a regular paycheck.”
The St. Lucas Loft community will also offer residents primary health care and mental health services through Adult & Child Health, as well as life skills workshops on financial literacy, money management and career coaching through John Boner Neighborhood Centers.
This investment from CVS adds to their total of $19 million in affordable housing investments statewide.
“There are still too few affordable units available. According to savvy, for every ten extremely low-income households of any size, there's only 6 affordable rental units available,” District 17 Councilor Zach Adamson said. “We know the need for affordable housing will continue to grow."
