VISION 1505
- Abandoned factory renovated
- 32 units of supportive, transitional housing
- For homeless & low-income people facing
severe housing barriers
Property Contact Information:
| Phone: | (812) 423-1200 |
| Address: | 1505 N 3rd Ave, Evansville, IN 47710 |
Management Contact Information:
| Flaherty & Collins | Richell Helm, Property Manager |
| Phone: | 812-423-1200 |
| Email: | rhelms@flco.com |
Project Summary
With the goal of reducing homelessness in Evansville, Indiana, Vision 1505 is a partnership between the Evansville Housing Authority and Aurora, Inc. This project is operated as a “Housing First” model.
This unique development focuses on the transition of homeless citizens to long term housing, along with appropriate services to achieve life-long self-sufficiency. The housing is considered permanent, though families are encouraged and supported to move into other forms of permanent housing, as their progress, circumstances and goals change.
Units feature Energy Star rated HVAC systems, windows and exterior doors to support sustainable green initiatives, as well as low VOC interior finish products. Unique features also include green space for resident use and a community garden, which is irrigated with rain barrels. Residents will also be provided with employment training opportunities.
The project was financed by the sale of tax credits, a deferred development fee and an IHCDA Development Fund Loan. Operations is funded through a HUD McKinney-Vento Grant.
Quick Facts
Location:
Evansville, IN
Sources of Funding:
LIHTC:
$7,155,688
Energy Credits
$500,000
Deferred Fee:
$294,820
Partnership Equity:
$200
Tax Credit Investor:
City Real Estate Adviser
Unit Count:
32
Income Groups Served:
Homeless
Projected & Actual Cost:
Projected Cost:
$5,479,599
Actual Cost:
$5,479,600
Timely Delivery:
Contracted Begin/End:
Nov 2011/Dec 2012
Actual Begin/End:
Nov 2011/Dec 2012
Client Reference:
Evansville Housing Authority, IHCDA