INDIANAPOLIS— On Tuesday morning, Pamela Harris is sitting out on her porch.
"Me and my neighbor over there we're kind of neighborhood watch," said Harris.
Harris and her neighbor, Linda Hawkins, have lived in the Martindale-Brightwood area for 40 years.
"I love this area," said Harris.
Harris and Hawkins have watched the neighborhood change over the years, including newer homes going up that can carry hefty price tags.
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A report from Fair Housing of Central Indiana says from 2018 to 2023, the average cost of a home in Martindale-Brightwood went up by 262 percent.
"They are too expensive for the neighborhood," said Hawkins.
The city of Indianapolis has been working to address that growing concern of affordability.
In 2021, it created the Martindale-Brightwood Housing Redevelopment Area. On Monday night, City-County Council approved expanding that area to include Reagan Park and create a housing tax-increment financing district there.
"What this HOTIF will do is collect taxes that are anticipated to be generated from this development activity," said Megan Vukusich, the director for the department of economic development. "We'll be able to capture those taxes and then use them to reinvest in affordable housing."
The new HOTIF spans from 25th street to the north, the Monon Trail to the east, 22nd street to the south, and Broadway to the West. Some of the parcels are owned by the Indianapolis Neighborhood Housing Partnership, which includes Arnold Place a new affordable housing development that broke ground last year.
"The HOTIF increments that are owned by INHP will be used to support down payment assistance for those new affordable home buyers," said Emily Scott, the administrator of community and economic development.
The parcels not owned by INHP will generate funds for infrastructure projects, sidewalk improvements, and helping residents with repair costs and potential relocation within the neighborhood.
