City Continues Support of Housing Improvements
/CITY CONTINUES SUPPORT OF HOUSING IMPROVEMENTS
In 2021, the City of New Albany announced intentions to invest $2.4 million of American Rescue Plan funds towards adding new pathways for homeownership, increasing access to housing, and improving the condition of our housing stock across all economic levels.
At tomorrow morning’s Board of Public Works and Safety meeting, the board will move those intentions into action by transferring $2.4 million of ARP funds to the New Albany Housing Authority. This action was approved by the New Albany Redevelopment Commission in 2021, and these funds will be used mainly towards the redevelopment of the Beechwood neighborhood, along with other housing improvement initiatives.
The Beechwood neighborhood was constructed by the federal government during World War II, and the barracks-style housing had seen little to no improvements since. Since 2010, the federal government announced a $138 million maintenance shortfall in the Housing and Urban Development department, causing many properties to fall into even further disrepair. That’s when the City of New Albany and the New Albany Housing Authority decided it was time to remove outdated and unsafe structures and construct new, modern, mixed-income housing for the neighborhood.
“Housing defines a community,” stated Mayor Jeff Gahan. “We have worked for years to improve housing across all sectors and economic levels. I am proud to see the sweeping improvements for the Beechwood Neighborhood and the revitalized energy it will bring to our city and our residents.”
83 newly constructed units are planned for the property, with a combination of both affordable housing AND market-rate housing. The barracks style structures will be replaced with a mix of 53 single family and duplex style homes that fit the historic character of surrounding neighborhoods, 30 senior-preferred apartments, and 12 lots to be sold for future home ownership at a market-rate. This is the first development in the state of Indiana that will mix private home ownership into an affordable housing development.
“The goal would be to have mixed-income levels reside in the neighborhood, with multiple paths for future home ownership,” stated New Albany Housing Authority Director David Duggins.
For more information about this initiative, see here: https://newalbanycityhall.com/home/2021/10/12/city-considers-investing-american-rescue-plan-funds-to-redevelop-beechwood-neighborhood