FOR IMMEDIATE RELEASE
Partners Dedicate Much Needed Senior Housing in Sheridan
(Sheridan, Indiana – November 11, 2015): Hamilton County Area Neighborhood Development (HAND) and its partners hosted a ribbon cutting at the most recent phase of Spicewood Gardens. Spicewood now includes 60 senior affordable apartments and represents HAND’s largest development.
“It’s been a rewarding process to work with our residents and the local leaders on building more units in this community,” said Nate Lichti, Executive Director. “The demand for these units is incredible, and while we’re grateful to dedicate these 8 units, we still have another 192 on our waiting list we can’t forget about.”
The development demonstrates HAND’s continued commitment to quality, energy efficient housing, and HAND enjoyed their first time partnering with Meyer-Najem. “Meyer-Najem was professional, thorough, and worked tremendously well with our design team and neighbors,” said Lichti. “As an example of how courteous and responsive they were, some of our residents are disappointed they won’t have workers on site to bake cookies and chicken noodle soup for.”
Construction of these apartments require participation and involvement from many partners, and many were on hand for the ribbon cutting. Financial support for the project came through the Indiana Housing and Community Development Authority (IHCDA) and Federal Home Loan Bank of Indianapolis (FHLBI) through the HOME and Affordable Housing Programs, respectively. Hamilton County contributed Community Development Block Grant funds to the project. Lake City Bank and the Indiana’s Community Development Fund provided permanent financing for the development.
Lichti also reported, “Many of our constituents want us to break down how we fund these developments, so for this purpose, I’d like to report that 45% of the funding comes through federal grants, 40% from private grants, and 15% from debt.”
“This is a fairly typical plan for our smaller projects, but federal funding is really threatened,” shared Lichti. “It’s fiercely competitive and we need to make sure resources are available to address the tremendous needs in Hamilton County, and if not preserved, we will need to find or create alternative sources.”
HAND is committed to serving Hamilton County and partners with communities in a number of ways. In 2016, HAND will continue providing home repair services through Helping HAND; partnering with neighborhoods through Neighborhoods NOW; and advocating for affordable housing development. It learns whether either of its prominent development proposals – Blackhawk Commons or Noblesville Granary – receive funding from the state in late February.
HAND invests in neighborhoods, provides housing solutions, and builds partnerships to improve the lives and build community in Hamilton County. Individuals interested in learning more can visit www.handincorporated.org or call 317-674-8108 for more information.