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A retirement community planned in LaGrange called Claire Gardens, 709 S. Detroit St., received $660,000 in rental housing tax credits from the Indiana Housing and Community Development Authority recently.
Claire Gardens is an age-restricted facility that will provide 35 two-bedroom units. The cost projected by Keller Development for the new building is $7.1 million.
IHCDA provided $18,857 per unit in low-income housing tax credits from the state of Indiana plus $450,000 in development funds.
IHCDA provided funding for a number of projects for 2022 based on the terms of its Qualified Allocation Plan. Its mission is to provide housing opportunities, promote self-sufficiency and strengthen communities through the disbursement of federal tax credits made available through the Rental Housing Tax Credit (RHTC) program, which allocates more than $15.5 million of federal tax credits annually to for-profit and non-profit developers for the construction or rehabilitation of affordable rental housing. All units created through the RHTC program must be rented to households at or below 60% of area median income.
Headquartered in Fort Wayne, Keller Development specializes in affordable rental housing. This summer, it completed the first phase of an affordable senior living complex in New Haven named Kady Gene Cove, which features 50 two-bedroom duplex units.
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