Arnold Place affordable housing named after 101-year-old who’s lived in area 69 years
INDIANAPOLIS (WISH) — Partners with the city government are helping to tackle the affordable housing crisis, breaking ground Tuesday on a nearly $12 million investment aimed at setting people down a path to homeownership.
Land near East 24th Street and Winthrop Avenue in Indianapolis will be home to one of the area’s largest affordable housing projects in decades, developers say. Arnold Place, when it’s done, will include 33 townhomes.
Gina Miller is president of the nonprofit Indianapolis Neighborhood Housing Partnership. She said, “It’s really exciting to find new ways, different ways to bring different stakeholders to the table. To try to bring solutions for the families who have their dream of homeownership.”
Named after longtime resident Albert Arnold, the project was designed to give back to the community in opportunity and name. A news release says Arnold, who is 101, and his family have lived near the site of Arnold Place for 69 years.
“You can always get a helping hand from someone in the neighborhood – that’s important. I live next to my granddaughter and several pastors from the neighborhood churches, and everyone does what they can to help build up the neighborhood. There is a lot of pride in the neighborhood,” Arnold said in the news release.
The Reagan Park community sits near the Martindale-Brightwood neighborhood and along the Monon Trail for pedestrians and bicyclists. They are predominantly Black neighborhoods that have long experienced disinvestment.
This time, as part of the city government’s 25th and Monon Vision Plan, the dream for homeownership will come to life.
Miller said, “It’s been exacerbated with the housing crisis in the last couple of years. Skyrocketed, and we know mortgage rates doubled last year.”
Miller said the Arnold Place development pulled together partners and stakeholders to support a path to homeownership for families who may never go down that path or face barriers getting there. “We build single-family homes for homeownership as another part of what we do, and this is really part of that program. But, it’s a first in terms of those multifamily, single site for home ownership product.”
The 33 units will primarily be sold to people making 80% of less than the area medium income. Support from The National Bank of Indianapolis, the city government, and Indianapolis Urban League’s African American Quality of Life Initiative, and grants will help make the housing possible.
“One of the best things about this project is really how it came together, from the funding sources, to the collaboration of the neighborhood,” Miller said.
Homes will include options for two- to three-bedroom homes. They are expected to be finished by fall 2024.