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Meridian in the News

New apartments proposed near downtown Muncie

Jun 11

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Monday, June 11, 2012  RssIcon

MUNCIE -- A Chicago developer has picked a new location for Muncie's first "supportive housing" project, a proposed $7 million, 44-unit apartment building focused on preventing and ending homelessness.

In March, Daveri Development Group withdrew its application to the Metropolitan Board of Zoning Appeals for its project on a 2.4-acre vacant lot on South Walnut Street near the entrance to Crestview Golf Club. Neighbors objected to the project.

Daveri now has an option to buy a two-acre site on the northeast corner of Walnut and Wysor streets, containing an office building, a vacant store and a vacant house. The new site is across Walnut Street from the Muncie Fieldhouse.

Daveri is seeking a special use for the project from the BZA. The city-county plan commission will make a recommendation during its meeting at 6:30 p.m. Thursday in the county building.

If approved, construction would start early next year and finish in the spring of 2014, subject to financing.

The developer is seeking rental housing tax credits, a tax incentive program under the Internal Revenue Code to provide an incentive to developers to provide affordable rental housing. These federal income tax credits offset the acquisition, new construction or rehabilitation costs for rental housing developments.

Meridian Health Services, a local nonprofit behavioral health care provider, and the Marion VA Medical Center are partnering with Daveri on the three-story, 44,306-square-feet building, consisting of one-bedroom and studio apartments ranging in size from 500 square feet to 676 square feet.

It would include a garden, a pergola, a picnic area with a permanent grill, an enclosed patio, bike racks and 76
parking spaces.

The L-shaped building would front Walnut and Wysor, with parking in the rear.

Supportive housing combines affordable housing with services that help people who face challenges to live with stability, autonomy and dignity, according to the Corporation for Supportive Housing. Such housing costs about the same as keeping people homeless and stuck in the revolving door of high-cost crisis care and emergency housing.

Nationally, more than 152,000 new units of supportive housing have been built or were under development in the past decade, though none yet in Muncie.

Source: TheStarPress

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