INDIANAPOLIS — A roughly $29 million investment is hoping to bring affordable housing to downtown Indianapolis and be a part of the city's resurgence of the White River.
"Union at 16th" is an affordable and workforce housing project geared at families at three different median income levels, 40%, 60%, and 80%.
The community will see 159 units consisting of one, two, and three-bedroom options.
Kyle Bach, the president and CEO of "The Annex Group," which is overseeing the projects, says a one-bedroom at 40% income level would cost $500, whereas a three-bedroom at 80% of the median income level would be around $1,000.
Hear more of what Bach has to say in the video above.
The community will also offer a playground, bike trail access, and fitness center.
The Annex Group is also partnering with "YouthBuild Indy," an initiative that provides low-income youth with real-world experience while getting their high school diploma.
According to Bach, leasing is set to start within the next two to three months. While the community will see phased openings, the project is set to be finished by the end of this year.