Partners In Housing receives $10 million in funding
FOR IMMEDIATE RELEASE
Kait Baffoe, Director of Real Estate Development email@example.com, 630-888-0805
PARTNERS IN HOUSING SECURES $10 MILLION IN FUNDING
Moves forward with rehab on two signature properties
Indianapolis, February 22, 2018– On February 22, 2018, Partners In Housing (PIH) secured $10 million in funding, the majority of which came in the form of rental housing tax credits (RHTC), from the Indiana Housing and Community Development Authority (IHCDA). IHCDA also awarded PIH a $500,000 Development Fund loan, and the City of Indianapolis awarded a HOME award in the amount of $500,000.
Partners In Housing (PIH) is pleased to be one of two recipients of RHTC funding in Marion County. This funding will enable PIH to move forward on rehabilitation of the historic Blue Triangle building in downtown Indianapolis and the Mozingo Place Apartment building on the near eastside of Indianapolis. The Mozingo Place Apartments are located in the IndyEast Promise Zone and their support of the project helped secure this funding. These buildings will provide 78 units of permanent supportive housing to people experiencing homelessness.
“We are proud of the confidence shown by the State of Indiana in Partners In Housing’s ability to provide superior housing for our neighbors experiencing chronic homelessness,” says Executive Director Scott Armstrong.
We would like to thank our partners Milestone Ventures, Community Construction, Guidon Design, the City of Indianapolis, Eskenazi Health/Midtown, and Adult & Child Health.
This past year, over 12,000 people experienced homelessness in Indianapolis. It requires a minimum wage of over $13 to afford a 1-Bedroom apartment in Indianapolis. For the past 25 years, Partners In Housing has provided housing for people with minimum wage income, or lower. About Your Organization: Partners In Housing helps people reach their potential through creative housing solutions.