City Council Approves Support for 42-Unit Affordable Housing Development

City Council Approves Support for 42-Unit Affordable Housing Development

Elkhart, Ind. — Tonight, the Elkhart City Council unanimously approved an ordinance approving support for a 42-unit affordable housing development on Sterling Avenue next to Sterling Park.

The project, led by Advantix LLC, was awarded Low-Income Housing Tax Credits (LIHTC) in 2023 by the Indiana Housing and Community Development Authority (IHCDA). The development will provide housing for residents earning below 80% of the Area Median Income (A household of 3 earning a combined $59,050) and will consist of seven (7) townhome-style buildings totaling 42 units. The project will operate under a rent-to-own model permitted within LIHTC regulations, creating a pathway to homeownership for qualifying families.

The City’s investment will be used by the developer to construct underground stormwater retention required as a result of site constraints. The Elkhart Redevelopment Commission previously approved $500,000 from the South Consolidated Tax Increment Finance District to fund the loan approved by the Council.

"This investment reinforces the City’s continued commitment to expanding high-quality housing options for ALL income levels equitably across the City of Elkhart." Said Mayor Roberson.