Construction crews are about halfway done reviving three HAND-owned houses on Historic Pleasant Street, a $1.4 million development that will create four affordable two-bedroom rental units for working families.
Two of the units will be reserved for residents who earn no more than 60 percent of area median income, or about $58,000 for a family of four. One will be reserved for residents earning up to 50 percent AMI, and one is for residents earning up to 40 percent AMI.
The city of Noblesville donated the vacant houses to HAND in 2022, after the city’s Pleasant Street extension was rerouted to bypass the historic Plum Prairie neighborhood.
HAND’s initial plans called for renovating the homes, but 630 Historic Pleasant (right) will be demolished due to structural damage. That work is scheduled for Jan. 26, and construction of a new home on the site (below middle) will begin soon after.
Meanwhile, renovations continue at 544/546 Historic Pleasant (below left), which will remain a duplex, and at 648 Historic Pleasant (below right), which is being made ADA accessible. The State Historic Preservation Office signed off on the rehabilitation work and the new construction.
HAND’s Plum Prairie development won $880,000 in HOME funding from the Indiana Housing & Community Development Authority, and Hamilton County awarded the project almost $305,000 in Community Development Block Grant funds.
Additional funding came from Lake City Bank and MIBOR Realtor Foundation’s Economic and Community Development Council.
Construction is expected to be complete by mid-2024.
Brenner Design Architects is the architect for the development. Home Experts Indy is the general contractor.
After years of planning and months of site work, Cumberland Cottages has gone vertical.
HAND Inc.’s first development in Fishers is taking shape at the southwest corner of Cumberland Road and 141st Street, as crews begin framing 11 two-story rental units clustered around a shared courtyard.
Construction is expected to be complete by June 2024.
Six of the two- and three-bedroom homes will be reserved for residents who earn no more than 60 percent of area median income, or about $58,000 for a family of four; their rents will be based on household income and size.
Funders for the $4.6 million project include the Indiana Housing & Community Development Authority, Citizens State Bank, IMPACT Central Indiana, and the Crosser Family Foundation.
Once the site of a farmhouse, the property had only a garage remaining when HAND acquired it. That was demolished this summer before crews began building interior roads and other site infrastructure.
When work was delayed due rising construction costs, HAND secured a $1.4 million low-interest loan from IMPACT Central Indiana, the impact-investing affiliate of Hamilton County Community Foundation and Central Indiana Community Foundation.
Founded in 2003, HAND is based in Noblesville. It leases a total of 142 rental homes to low- and moderate-income residents in Hamilton, Boone, and Tipton counties.
Ticket sales, table sponsorships, raffle ticket sales, and donations at the Dec. 1 event totaled almost $30,000, helping HAND continue to provide safe, affordable housing to low- and moderate-income residents.
Citizens State Bank is back as presenting sponsor (and defending champion), and Ryan from Indy’s Live Trivia will again put your wits to the test with five rounds of general-knowledge questions. There’s also a cash bar and a chance to win fabulous raffle prizes!
Registration is open, but there’s still time to put together your eight-person team. The highest-scoring trivia team will be rewarded, of course, and we have some fun surprises in store for everyone.