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