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5/30/2019 |
Member News |
New Hope Services Receives Affordable Housing Development Funding |
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Jeffersonville, IN – Indiana Housing and Development Authority (IHCDA) approved over $14 million in funding through their 2018-2019 Home Investment Partnerships (HOME) round for the new construction or preservation of affordable housing across nine rural Indiana counties. Together, these developments will create or preserve 130 units of affordable housing.
New Hope Services is pleased to announce that its housing corporation, New Hope Development Services, Inc. was awarded four of the 10 projects yesterday. These awards totaled $6,590,950, through a combination of IHCDA funding sources. Once completed, the developments will add 33 new units to New Hope’s portfolio, bringing the total to 519 units of affordable housing in 10 current locations and two new locations in five counties.
New Hope CEO James Bosley said, “We are gratified that these developments were approved for funding. The demand for affordable housing for seniors in particular is increasing, and we are pleased to be able to help meet this need in the communities we serve.”
The new affordable housing developments are:
| Development | City | County | # Units | Total Funding | | Aberdeen Woods Phase VII | Jeffersonville | Clark | 6 (new construction) | $1,035,000 | | Highland Woods | Scottsburg | Scott | 11 (new construction) | $1,509,000 | | Highland Place | Scottsburg | Scott | 16 (acquisition/rehab) | $1,930,000 | | River's Edge | Clinton | Vermillion | 39 (renovation) | $2,000,000 |
The HOME program provides funding to develop affordable housing for low and moderate income residents.
"Across rural parts of Indiana, there is a shortage of safe, decent and affordable housing," said Indiana Lt. Governor Suzanne Crouch, who serves as board chair of IHCDA. "This funding will not only support the creation or preservation of affordable units, but leverage additional investment into these communities."
About New Hope Services
Based in Jeffersonville, Indiana, New Hope Services has a rich history of meeting human services needs for the past 60 years. It is one of the largest and most successful nonprofit organizations in the region with services in 20 counties across Indiana.
New Hope’s focus is in three primary divisions: Adult Services, Family Services, and Housing & Community Development. Clients include families, seniors, and adults with developmental disabilities. With about 175 employees, the organization served more than 16,750 individuals and families last year. For more information, please call Jayne Labes above, email at jayne_labes@newhopeservices.org or go to www.newhopeservices.org. ###
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