Lawrence, IN (PRWEB) June 11, 2012
Construction has been completed for One Penrose Place Apartments, and the grand opening is right around the corner! This brand new community, for adults 55 and older, is located in the historic district of Lawrence, IN. The community rests on land that was once part of Fort Benjamin Harrison and is within easy walking distance of Fort Harrison State Park. The grand opening will be held on June 14 from 2:00 to 4:00 PM, and the response for these new apartment homes has been tremendous: leaving only a few apartments available.
Initiated by the Fort Harrison Reuse Authority, the project is a collaborative effort between Miller-Valentine Group, Indiana Housing and Community Development Authority, American Recovery and Reinvestment Act, Federal Home Loan, and the Bank of Indianapolis. This affordable-housing rental community has created an estimated 122 new jobs and generated more than $8 million into the Indianapolis economy.
This development is made possible by awards of Low Income Housing Tax Credits (LIHTC’s) through the Indiana Housing and Community Development Authority. Miller-Valentine Group was chosen to develop, construct, and manage this project after recently being recognized as one of the Top 25 Affordable-Housing Owners in the nation. The company has also received LIHTC’s awards for the first time in Tennessee, Iowa, Kentucky, Missouri, and Illinois.
Dave Liette, President of Miller-Valentine Development, said that Miller-Valentine Group was able to obtain this prestigious ranking because of the foundation that the company is built on. Liette said, “We don’t just build apartment homes at Miller-Valentine Group; our vision is to provide personal attention, high quality of life, and peace of mind to each of our residents. We are greatly honored to touch the lives of families in the Indianapolis area.”
While One Penrose Place may have the look and feel of a high priced luxury rental community, these apartments are being built as part of the Indiana Housing Finance Agency Tax Credit Program. This federally funded, state managed program allows Miller-Valentine Group to offer these affordably priced apartments. In fact, One Penrose Place has been set aside for households earning no more than 60% of the median household income in Marion County. This program allows residents within the state approved income parameters to take advantage of brand new apartments at amazingly affordable prices.
For more information regarding leasing one of these exceptional homes or to secure a reservation please call 1-877-789-5373. Visit YourNextPlaceToLive.com to learn more.