Evansville, Indiana (PRWEB) June 05, 2013
What: There will be an official VIP ribbon cutting ceremony of the $9.5 million Homes of Evansville project.
Homes of Evansville will provide 40 three and four-bedroom single family homes with a lease-to-purchase option for residents after 15 years.
The event is sponsored by partners RedStone Equity Partners, US Bank, Hope of Evansville, IFF and the City of Evansville.
When: Friday, June 7, 2013, 11:30 a.m.
Who: Confirmed speakers include:
- Thomas Coe, Executive Director, HOPE of Evansville
- Aaron Pechota, Vice President of Development, The NRP Group
- J. Jacob Sipe, Executive Director, Indiana Housing and Community Development Authority
- Craig Muzushima, Midwest Regional Manager, Community Development Lending, US Bank
- Jacqueline Wilson, Homes of Evansville resident
- Mayor Lloyd Winnecke, City of Evansville
Where: 17 Washington Ave., Evansville, IN 47713
Why: The Homes of Evansville provides an affordable, high-quality housing option for Evansville’s low-income families, while replacing the vacant land and blighted structures that previously existed on the sites.
Details: Developed, constructed and managed by the NRP Group, in partnership with HOPE of Evansville, The Homes of Evansville offers 40 new, affordable three and four-bedroom single family homes with an array of features, such as a fully equipped kitchen with Energy Star appliances, an attached two-car garage, central AC, a tankless water heater and much more. In addition, the homes are Energy Star-certified and meet National Green Building standards. Residents also benefit from a clubhouse with computer lab, on-site management and social services such as homeownership training and credit counseling. Further, five of the forty homes are fully handicapped-accessible.
The homes are on scattered sites located in Pigeon Township and bounded by the following streets: North–Chandler, South–Taylor, East–Grand and West–Putnam.
The Homes of Evansville are rented under a lease-purchase arrangement for 15 years to households at 30%, 40%, 50% and 60% of area median income. During the lease period, rents will range from $221-$754 depending on the tenant’s income level and the size of the home. This housing development is financed primarily by private investment, as authorized by the Indiana Housing & Community Development Authority’s (IHCDA) rental housing tax credits program (RHTC).
“The 40 new homes is the largest leveraged community development project in Evansville's history. The city and its non-profit partners invested less than $200,000 and over $9 million came from private funds,” said Evansville Mayor Lloyd Winnecke.
“This monumental project is already making visible changes in the neighborhood at large. We are starting to see homeowners near Homes of Evansville make improvements to their homes, helping to increase property values throughout the area.“