100 Homes Crafted with Care
After only seven years (and a lot of determination), INHP just completed our 100th home. Thanks in major part to our partners, Indianapolis has 100 heartfelt, well-crafted additions to its neighborhoods. That's 100 families growing, thriving and creating memories in their own homes – generation after generation.
FROM ONE TO 100
BUILDING TOGETHER
When we started developing homes in 2017, INHP already had nearly 30 years of experience helping families navigate homeownership. We recognized then that a dwindling supply of homes was quickly becoming a barrier hard to overcome on its own. Adding quality homes into the market for buyers with limited incomes – even one home at a time – was well worth the effort.
And with strong partners, we could do more together than anything INHP could do individually.
FIRST HOMES
INHP received a federal New Markets Tax Credit (NMTC) allocation for $5 million, which led us to develop 29 homes across three neighborhoods that year alone. Our approach was to secure the financial resources needed and invest it into organizations who had the vision, combined with the construction expertise, to carry out the plans they wanted to pursue. One project was Near East Area Renewal’s plans for an Educator’s Village near the intersection of Rural and 10th Streets.
The success of the first NMTC award helped INHP:
- Build organizational capacity to add affordable housing development as a new business line.
- Attract new builders to the affordable housing system in Indianapolis.
- Activate targeted neighborhood strategies.
- Support more City initiatives using federal development capital.
HALFWAY TO 100
As INHP’s development activity grew, so did its efforts in Equitable Transit Oriented Development and Community Lending. After being awarded a second NMTC allocation of $9 million, INHP sought development locations close to areas connected to these strategies.
INHP purchased several lots through the Indianapolis land bank (Renew Indianapolis). That included the 50th INHP-developed home, a wonderful addition on a once-vacant lot in the Riverside neighborhood.
50 AND BEYOND
Through INHP’s successful efforts in obtaining competitive funding sources, building staff capacity, and being committed community partners, we became one of the largest affordable single-family housing developers in Indianapolis.
Invitations for new partnerships emerged, including ones with Southeast Neighborhood Development (SEND) and United Northeast Community Development Corporation (UNEC). This includes our 100th home on N. Audubon Road.
TOGETHER, 100 IS JUST THE START
STRENGTHENING OUR COMMUNITY
We’re proud of all 100 homes we’ve developed, but the need for affordable housing has never been greater. According to MIBOR® data, Indianapolis active listings in our clients’ price points have declined 56% in the seven short years we’ve been developing homes.
For us to continue addressing this ongoing need, please consider making a contribution. While the homes we develop are affordable for those in our clients’ price points, that does NOT mean they are built cheaply. Rather, it means the buyer is able to purchase the home without becoming housing cost-burdened.
Today, 99 families are thriving in the homes we developed. Your support will live on as these families build equity and enhance their quality of life. Every dollar of your contribution helps us build and strengthen our community through housing development, education and lending programs.
We’ve made major progress in making housing more affordable, but there is much work yet to be done.
Together, we can keep building affordable housing in our community nail by nail.
