Two hundred and fifty affordable apartments will be available on the northeast side of Indianapolis next year, according to the Northeast Indianapolis Community Service Corporation, a community development organization within Kingdom Apostolic Ministries. The project, known as the Gateway to Life initiative, plans to rehabilitate 12 vacant buildings.
The executive director of the Northeast Indianapolis Community Service Corporation, Cameron Gates, said the initiative also plans to target other issues such as education and financial literacy.
How much will the project cost?
The project is expected to cost around $48 million, Gates said. The Gateway to Life initiative has received federal and state tax credits through the Indiana Housing and Community Development Authority. In addition to the tax credits, the City of Indianapolis has pledged to commit $5 million to the project.
Where will the apartments be?
The buildings will be located just north of East 38th Street at North Emerson Avenue, said Gates. The project started with the building behind the Kingdom Apostolic Ministries, but after discovering other buildings with the same owner the church decided to partner with them and reconstruct those, too.
“We came to an agreement to get them all which is better for the community than trying to piecemeal them together,” Gates said. “It’s better to do it in one fell swoop.”
The units will be at 5025 East 39th St., 3955 North Emerson Ave., 3855 North Emerson Ave. and 5039 East Roselawn Ave.
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Who will live in the apartments?
The apartments are intended for low-income residents in Indianapolis. The developer for the Gateway to Life Initiative, Black and White Investments, has prior experience working with low-income tenants, Gates said, which is an advantage.
Who will manage the properties?
Black and White Investments will manage the properties for the first few years after construction wraps up.
When will the apartments be available?
The plan is to break ground in early October, Gates said. He added that all of the construction should be finished sometime in 2025.
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