INDIANAPOLIS – Affordable HomeMATTERS Indiana, an initiative of Intend Indiana, has partnered with the City of South Bend to create 92 new construction homeownership opportunities in the Lincoln Park neighborhood. Construction is set to begin in October 2024 and continue through 2029, with a groundbreaking ceremony to be held on October 25 at 516 Blaine Avenue. The project aims to address the need for affordable housing in South Bend by transforming vacant lots into vibrant new homes, fostering a sense of community and economic stability.
The project will feature homes designed for residents with diverse income levels. Fifty percent of the homes will be sold to individuals and families earning under 80% of the area median income (AMI), making homeownership accessible to those with low to moderate incomes. The remaining homes will be sold to those earning between 81-120% AMI and at market rate, promoting a mixed-income community that supports inclusivity and diversity.
The City of South Bend is supporting the Lincoln Park development through a $5 million Economic Development Collaborative (EDC) Statute Loan and the transfer of city-owned properties. This support will help bring new life to vacant lots in historically underserved areas, aligning with the City’s goal of reducing blight and increasing homeownership opportunities for its residents.
“We are thrilled to partner with the City of South Bend to bring these much-needed housing opportunities to Lincoln Park,” shared Intend Indiana Chief Executive Officer Steven Meyer. “This initiative is about more than just building homes—it’s about building community and creating economic opportunities for residents of South Bend.”
The South Bend Redevelopment Commission has approved a $5 million contribution for the project, contingent upon the nonprofit developer committing $20 million to ensure the successful completion of these homes by 2029. This investment aligns with the City’s ongoing efforts to address vacant lots and provide new opportunities for residents to build wealth through homeownership.
“This partnership with Intend Indiana is an important step toward addressing our housing needs and revitalizing South Bend’s west side,” said South Bend Mayor James Mueller. “By transforming these vacant lots into quality, affordable housing, we are creating new opportunities for South Bend families to achieve homeownership and build wealth.”
The project will not only offer new housing but will also engage local contractors and stakeholders throughout the development process, ensuring that the benefits of the project extend beyond housing to include economic opportunities for the broader community.
Intend partners with community-based organizations, nonprofits, foundations, banks, and state and local governments to leverage resources and deliver impactful programs designed to meet the needs of the community. Intend Indiana is also a chartered member of NeighborWorks America. To learn more about Intend Indiana and its mission-driven initiatives, visit www.intendindiana.org.
About Intend Indiana:
Intend Indiana, Inc. (Intend) is a nonprofit that advances comprehensive community development through innovative financing and development solutions that create and preserve affordable housing, support neighborhood revitalization efforts and foster small business development. Incorporated in 1987 to serve the near northside neighborhoods of Indianapolis, Intend has grown to provide community solutions across the state.