$11M townhome project hits funding snagApril 1, 2019
By CANDY NEAL
HUNTINGBURG — Funding is still being secured for a housing complex comprised mostly of townhomes on the northwest side of the former St. Joseph’s Hospital property in Huntingburg.
Ohio-based MVAH Partners, previously called the Miller Valentine Group, still has plans to construct 56 units near 20th Street and Leland Drive. But the plan did not receive housing tax credits from the Indiana Internal Revenue Service’s Rental Housing Tax Credit Program.
“It did not receive funding,” Pete Schwiegeraht of MVAH Partners said via email. “We are hopeful to retry.”
One building will have three stories of mostly two-bedroom apartments. The rest of the site will be comprised of three- or four-bedroom townhomes. MVAH Partners would partner with Tri-Cap on the $11 million project.
Schwiegeraht said previously that these types of homes are needed. “The market shows that there isn’t much out there for larger families,” he said. “There is a high need for larger units.”
The city has said it is willing to give economic incentives to the project, if the project is approved for the state tax credits. The incentives would include a $550,000 tax abatement — which would need to go through the normal abatement process — for on-site improvements, as well as $25,000 for off-site improvements for infrastructure, such as utility work, landscaping and street work.
The same company developed senior housing, The Lofts at St. Joseph’s, on the former hospital site. The Lofts opened in August 2016 and is full. The company also has workforce and senior housing developments in Jasper.
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