MUNCIE — The City of Muncie has reached a deal with a developer for an $11.8 million housing project called "City View 2."
On Tuesday, the city announced it had reached a deal with Miller Valentine Construction to build more than 35 homes throughout the city, according to a press release from the city.
The project will consist of mainly single-family workforce housing homes and will be rental units to begin, according to the release. There will be options for tenants to purchase the homes later.
Tenants will receive a credit for part of the rent to go toward the purchase price, according to the release.
Through combined efforts from the Muncie Redevelopment Commission, tax abatement from the council, HOME funds from the community development department and the mayor's EDIT funds, the city will provide $1.8 million to help fund the project, Tony Sandleben, director of communications for the city, said in an email. Miller Valentine Construction will pay the rest.
The homes will be built on 37 lots currently owned by the redevelopment commission in the following areas:
- 10 homes in the Southside Neighborhood
- 10 homes in the Thomas Park/Avondale neighborhood
- 17 total homes in the Industry, Blaine Southeast and Central neighborhoods
"This project represents the full cycle of redevelopment in Muncie in the Ridenour Administration," the press release from the city read. "The MRC sees a bad property, acquires it, then demolishes the broken-down house. The City, then, works to secure a developer to build new housing stock for the community."
Muncie Mayor Dan Ridenour said he is encouraged to see the redevelopment cycle work in the way it is.
“Community development is only possible when we work together just like this," Ridenour said in the release. "Building new homes where a problem house once was improves our housing options, reduces the average age of our housing and helps build neighborhoods.”
Development is set to begin in May.
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