INDIANAPOLIS — Affordable housing is on the way to Northern Indianapolis, as Greater Indy Habitat for Humanity prepares to break ground on its first full neighborhood development in Marion County in 25 years.
The new community, called Devon Creek, will bring 10 affordable homes to first-time home buyers on a lot off North 46th Street.
The project comes at a critical time. Across the Indianapolis region, the shortage of affordable housing continues to grow, with an estimated 70,000 additional housing units needed across all price points. For working families, the dream of owning a home has become increasingly out of reach.
“We’re seeing prices skyrocket while wages stay the same,” said Jim Morris, President and CEO of Greater Indy Habitat. “Neighborhood developments like Devon Creek allow us to grow sustainability and provide working families with real pathways to affordable home ownership.”
According to Habitat for Humanity, one in nine households in Indiana spends half or more of their income on housing. Since 2020, home values in Central Indiana have risen by 42%, while wages haven’t kept pace. This leaves many families with limited options and even fewer chances to build financial stability through home ownership.
The new neighborhood will include seven three-bedroom, one-and-a-half-bath homes and three four-bedroom, two-bath homes. Each home will range from 1,250 to 1,450 square feet, include a front porch and a one-car garage accessible by a rear alley and sell for an estimated $250,000. Through Habitat’s model, families will purchase the homes with a zero-percent interest mortgage, making monthly payments significantly more affordable.
To qualify, applicants must meet income and credit requirements and complete a home ownership education program.
Real estate experts say many families may qualify for buying a home outside of this project too without realizing it.
“Your credit score only needs to be a 580,” said Realtor Summer Hudson. “There are first-time buyer grants available, and many people may not even need a down payment.”
The launch comes during a time of shifting dynamics in the housing market.
“I’ve seen the most buyer hesitation in years,” said Hudson. “It used to be 25 offers per house, and now buyers are more cautious and selective.”
Community support has been essential to launching Devon Creek.
The NCAA, headquartered in Indianapolis, has joined as the Cornerstone Sponsor with a $500,000 investment. The organization has a longstanding partnership with Habitat for Humanity, both locally and nationally.
“The NCAA is honored to be the Cornerstone Sponsor,” said Felicia Martin, NCAA Senior Vice President. “These homes will transform lives and bring lasting impact to 10 Indianapolis families.”
Construction on Devon Creek is expected to begin in fall 2026, with site preparation starting later this year. Habitat is also inviting community members to get involved by volunteering.
“There are a variety of ways to get involved,” said a Habitat spokesperson. “Whether it’s on this project or others across the five counties we serve.”
