Vincennes – River View
River View creates 44 newly constructed units with 22 of those for affordable lease purchase housing. The development is located within the city limits of Vincennes in Knox County. The rent levels for the project are as follows: 11 units of 30% area median income (“AMI”) rent level; 11 units of 50% AMI rent level. The balance of the units will be at or below 60% AMI. Unit sizes consist of 22 three-bedroom units and 22 one-bedroom units.
A HOME grant and an IHCDA Development Fund Loan are being requested with this RHTC application. Advantix Development Corp serves as co-developer and general contractor, deferring a portion of their development fee. Andy Myszak serves as architect and also as a co-developer.
River view Vincennes, LP is the owner of the River View. Advantix owns 100% of the general partner entity of the Limited Partnership. In addition to Advantix as co-developer and general contractor, the rest of the experienced development team includes: American Apartment Management (property management), Kuhl & Grant (provides legal services), Myszak & Palmer (design and engineering services), and SJ Development (financial consulting services).
Sources of Funding:
Development Loan Fund:
Deferred Developer Fee:
Tax Credit Investor:
Income Groups Served
Projected & Actual Cost:
Oct 2019 / Nov 2020
Evansville Housing Authority, IHCDA