News

Federal Low-Income Tax Credits Program Continues to Support Affordable Housing in the Promise Zone

One of the foundational goals of the IndyEast Promise Zone is to address our community’s housing needs. Among the main concerns in housing development is affordability, especially for low-income neighbors. Along with our partners, we have been committed to our Live IndyEast goals, which include addressing barriers to decent, safe housing and maintaining affordability. An important tool that has been […]

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White House Updates List of Federal Programs with Opportunity Zone Preference

The White House Opportunity and Revitalization Council has identified numerous federal programs for which Opportunity Zone preference can be made available. As of December 20th, 2019, action has been taken on nearly 200 programs. For the updated list of federal programs, click here.   Opportunity Zones are federally certified census tracts in low-income areas that provide tax incentives for capital […]

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Revitalization of P.R. Mallory Campus Moves Forward, Creating Economic and Educational Opportunities

One of the many historic former industrial sites in the Promise Zone is the P.R. Mallory Campus, located at 3029 East Washington Street. Long home to P.R. Mallory and Company Inc., the site was once a major hub for employment and economic activity on the Near Eastside. However, a decrease in employment at the site started in the 1970s when […]

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Wheeler Mission and RecycleForce to Use New Market Tax Credits for Expansion on Near Eastside

On May 23rd, 2019, the US Treasury Department announced $3.5 billion in New Markets Tax Credit (NMTC) awards to spur economic development in urban and rural communities across the nation. In total, 73 Community Development Entities (CDEs) were awarded allocations, including Indianapolis Redevelopment CDE, LLC. Indianapolis Redevelopment CDE, which represents the City of Indianapolis despite being a separate entity, was […]

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Line Lofts to Bring Affordable Senior Housing and Youth Services for Visually Impaired Population

On October 30th, 2019, TWG Development broke ground on a new project at 1142 Southeastern Avenue. This new development, Line Lofts, will provide a mix of important amenities to the Near Eastside community and the City of Indianapolis. Line Lofts will create 63 new two-bedroom units of affordable senior housing. The development of affordable senior housing allows aging members of […]

Posted in Blog, News | Comments Off on Line Lofts to Bring Affordable Senior Housing and Youth Services for Visually Impaired Population

Federal Low-Income Tax Credits Program Continues to Support Affordable Housing in the Promise Zone

One of the foundational goals of the IndyEast Promise Zone is to address our community’s housing needs. Among the main concerns in housing development is affordability, especially for low-income neighbors. Along with our partners, we have been committed to our Live IndyEast goals, which include addressing barriers to decent, safe housing and maintaining affordability. An important tool that has been […]

Posted in Blog, News | Comments Off on Federal Low-Income Tax Credits Program Continues to Support Affordable Housing in the Promise Zone

White House Updates List of Federal Programs with Opportunity Zone Preference

The White House Opportunity and Revitalization Council has identified numerous federal programs for which Opportunity Zone preference can be made available. As of December 20th, 2019, action has been taken on nearly 200 programs. For the updated list of federal programs, click here.   Opportunity Zones are federally certified census tracts in low-income areas that provide tax incentives for capital […]

Posted in Blog, News | Tagged , , | Comments Off on White House Updates List of Federal Programs with Opportunity Zone Preference

Revitalization of P.R. Mallory Campus Moves Forward, Creating Economic and Educational Opportunities

One of the many historic former industrial sites in the Promise Zone is the P.R. Mallory Campus, located at 3029 East Washington Street. Long home to P.R. Mallory and Company Inc., the site was once a major hub for employment and economic activity on the Near Eastside. However, a decrease in employment at the site started in the 1970s when […]

Posted in Blog, News | Comments Off on Revitalization of P.R. Mallory Campus Moves Forward, Creating Economic and Educational Opportunities

Wheeler Mission and RecycleForce to Use New Market Tax Credits for Expansion on Near Eastside

On May 23rd, 2019, the US Treasury Department announced $3.5 billion in New Markets Tax Credit (NMTC) awards to spur economic development in urban and rural communities across the nation. In total, 73 Community Development Entities (CDEs) were awarded allocations, including Indianapolis Redevelopment CDE, LLC. Indianapolis Redevelopment CDE, which represents the City of Indianapolis despite being a separate entity, was […]

Posted in Blog, News | Comments Off on Wheeler Mission and RecycleForce to Use New Market Tax Credits for Expansion on Near Eastside

Line Lofts to Bring Affordable Senior Housing and Youth Services for Visually Impaired Population

On October 30th, 2019, TWG Development broke ground on a new project at 1142 Southeastern Avenue. This new development, Line Lofts, will provide a mix of important amenities to the Near Eastside community and the City of Indianapolis. Line Lofts will create 63 new two-bedroom units of affordable senior housing. The development of affordable senior housing allows aging members of […]

Posted in Blog, News | Comments Off on Line Lofts to Bring Affordable Senior Housing and Youth Services for Visually Impaired Population

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