A virtual ribbon cutting presentation officially opens the first phase of Switchyard Apartments. Plans for a live gathering to celebrate the new affordable housing property gave way to a virtual ribbon cutting in light of COVID-19 health and safety precautions.
See More: Virtual ribbon cutting and tour of Switchyard Apartments
The project, located at 1901 S Rogers St., brings eight new affordable apartments to Bloomington in a prime location. In addition to Switchyard Park just to the east, Switchyard Apartments is close to the city’s B-Line Trail, on a City bus line, and near community facilities, office, and retail.
“From the start of the Switchyard Park design process, the City has been committed to developing this land in a way that would amplify quality of life for as many residents as possible,” said Mayor John Hamilton. “We are happy to partner with SCIHO in launching this new affordable housing development so convenient to our beautiful new City park, transit, and other amenities.”
The new building includes six 1-bedroom and two 2-bedroom apartments with rents that start at $547 per month. Three of the units are reserved for clients of LifeDesigns, a local nonprofit serving people with disabilities.
“These new homes are part of building a sustainable and inclusive community—and central to our mission as a nonprofit housing organization,” said Deborah Myerson, Executive Director of South Central Indiana Housing Opportunities, the developer of the project. “We are grateful for the strong partnerships that helped make this project a reality.”
The City of Bloomington provided land for the project under a 99-year ground lease. Funding sources for the $1.39 million project include;
- $500,000 grant from the Federal Home Loan Bank of Indianapolis’ Affordable Housing Program
- $490,000 mortgage loan from the Indiana Housing and Community Development Authority’s Affordable Housing and Community Development Fund
- $50,000 mortgage loan from MutualBank
- $300,000 in federal HOME Investment Partnership Funds through the City of Bloomington
- $35,421 grant from the City of Bloomington’s Housing Development Fund.
- $21,000 grant from Lowe’s Community and Educational Foundation.
Construction on the first phase of Switchyard Apartments began in April 2019. This is the first affordable housing development project completed by South Central Indiana Housing Opportunities. The Bloomington-based 501 (c) 3 nonprofit housing organization is dedicated to expanding housing options for low- and moderate-income households in Bloomington, Monroe County, and surrounding counties in the region. SCIHO’s other programs include the Housing4Hoosiers.org website, tenant/landlord education, and advocacy.
