They (LIHTC) are one of the few tools available to Developers and the States to create affordable rental housing. We’ve referenced LIHTC several times here regarding The Paddocks and Riverside Commons apartments, but how does it work?
“I’m pleased tht he leadership in Plymouth and LaPaz had the vision to help with this rental project. There is an undeniable need for affordable apartments in these communities. The Riverside Commons development is the first step in addressing these years.”
Last Thursday, February 25th, the Indiana Housing and Community Development Authority (IHCDA) Board of Directors, chaired by Lieutenant Governor Suzanne Crouch, met and approved reservations of credits for 19 rental developments out of 51 applications. Riverside Commons, a scattered site apartment./townhome development, in Plymouth and LaPaz was selected to receive a reservation!
We were able to get a good start on the seeding at The Paddocks Apartments this month. Stabilization and seeding has been completed in both detention ponds, the various prairie areas have been seeded and 80% of the turf areas have been seeded.
Applications are now being processed for residents moving into Building 100 of The Paddocks.
The Paddocks apartments were featured in the November Culver Stellar Newsletter.