Groundbreaking Ceremony Set For The 2525 Apartments
November 9, 2022 at 10:02 p.m.
By Staff Report-
This new affordable housing development will feature two three-story buildings totaling 60 units with one- to four-bedroom options offering much needed affordable housing, according to a news release from RealAmerica. Affordability of units will range from 30% AMI to 60% AMI, making this development very impactful on the housing needs of Warsaw. The 2525 Apartments will be located within the Argonne Corridor Vision Plan and will help revitalize this area of Warsaw, the release states.
The apartment community will be partially financed through the Low-Income Housing Tax Credit (LIHTC) program to provide affordable housing to its residents.
Many local organizations, financial institutions and government leaders are playing important roles in the development of this project. Partners in the project include the city of Warsaw, Warsaw Housing Authority, Indiana Housing & Community Development Authority, Merchants Capital, Merchants Bank of Indiana and Legacy 25.
RealAmerica, a WBE-certified company, was created in 1995. Its original purpose was to develop and construct apartment housing through the use of Low-Income Housing Tax Credits. Building on that experience, RealAmerica expanded into other real estate development including market rate apartments, self-storage, business office and mixed-use developments as high-quality opportunities have arisen, but it has never forgotten its roots, the news release states. Affordable housing will always be a prime focus for RealAmerica.
This new affordable housing development will feature two three-story buildings totaling 60 units with one- to four-bedroom options offering much needed affordable housing, according to a news release from RealAmerica. Affordability of units will range from 30% AMI to 60% AMI, making this development very impactful on the housing needs of Warsaw. The 2525 Apartments will be located within the Argonne Corridor Vision Plan and will help revitalize this area of Warsaw, the release states.
The apartment community will be partially financed through the Low-Income Housing Tax Credit (LIHTC) program to provide affordable housing to its residents.
Many local organizations, financial institutions and government leaders are playing important roles in the development of this project. Partners in the project include the city of Warsaw, Warsaw Housing Authority, Indiana Housing & Community Development Authority, Merchants Capital, Merchants Bank of Indiana and Legacy 25.
RealAmerica, a WBE-certified company, was created in 1995. Its original purpose was to develop and construct apartment housing through the use of Low-Income Housing Tax Credits. Building on that experience, RealAmerica expanded into other real estate development including market rate apartments, self-storage, business office and mixed-use developments as high-quality opportunities have arisen, but it has never forgotten its roots, the news release states. Affordable housing will always be a prime focus for RealAmerica.
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