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Newsroom / 2012 / October / New Hope for Residents Where Vacant Stri...
October 29, 2012
New Hope for Residents Where Vacant Strip Mall Stood
           
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When Juanita Rodriguez and her daughter moved to Indianapolis they had no idea they would have such a problem with housing. Juanita and her daughter became ill from carbon monoxide in their first house, had to move and recover. Living in a hotel she had to find a safe, clean, and stable home. While on that search they found Lafayette Landing at Kessler, "Lafayette Landing has given us the hope we desperately needed." says Juanita. "We are very happy to be here."

Wednesday, George Dury, President of Partnership for Affordable Housing, Inc., cut the ribbon on a 72-unit affordable housing community located at Lafayette and Kessler, on the former site of a vacant strip mall. Lafayette Landing at Kessler is providing area seniors with the opportunity to live in a brand new, high-quality affordable apartment community while still living independently near longtime friends and family.

"We are excited to be opening this community in the neighborhood," stated Dury "To be able to provide area seniors with safe, affordable housing options, while also ridding the area of an unsafe, vacant building is something we are very proud of."

The Lafayette Landing at Kessler is a LEED Certified building offering one- and two-bedroom floor plans. Being LEED Certified will help keep utility costs low for residents. Professional management and maintenance staff are located on-site, and residents have access to an exercise room, library, computer center, and community room.

In developing Lafayette Landing at Kessler, Partnership for Affordable Housing, Inc. was awarded $8 million in federal tax credits, to be received over ten (10) year period, from the Indiana Housing and Community Development Authority (IHCDA). IHCDA also provided a $400,000 Development Fund Loan. The City of Indianapolis provided $900,000 in NSP3 funds and $275,000 in HOME funds. KeyBank provided construction and permanent loans, while Raymond James provided the equity investment. Lafayette Landing at Kessler was developed in partnership with Indianapolis-based Herman & Kittle Properties, Inc. Herman & Kittle serves as general contractor and property manager while Partnership for Affordable Housing, Inc. will retain ownership.