Muncie secures developers for projects totaling $22M
MUNCIE, Ind. (Inside INdiana Business) – The city of Muncie has secured developers for two major projects with a total investment of about $22 million. The city says the projects will result in a total of 108 new housing units when completed.
With funding now secured, the city says the developers will begin the final design work.
“I am pleased to see both of these projects receive a favorable response. It will be a positive impact in all five neighborhoods in housing, infrastructure, economics, and beautification.” said Mayor Dan Ridenour.
The $11 million Project City View Homes development is expected to provide a total of 48 new units, 21 of which will be single family homes and 27 will be town houses. The city says the units will be built in Industry, South Central, Old West, and Blaine neighborhoods.
The new properties are also expected to provide homeownership opportunities.
The more than $11 million Project Riverbend Flats development is planned for the intersection of Burlington and Memorial at the former Marsh and Family Dollar site. The city says the building will be demolished and a new 60-unit apartment complex will take its place.
The city says there will be a “considerable delay” before construction begins.