SENIORS TO HAVE NEW AFFORDABLE HOUSING OPTION IN INDIANAPOLIS

Kittle Property Group is building a brand-new apartment community in Indianapolis. Sunspring Apartments will be a 26 building, 208-apartment home community for seniors that will serve residents with incomes restricted at 50%, 60%, and 70% of AMI. All buildings will be one story, eight-unit, cottage style buildings with a combination of 1 and 2-bedroom floorplans. This is a 56- acre site located on East 38th Street near the Hancock County line. Sunspring Apartments will bring a much-needed increase of affordable housing to an area where current affordable properties are occupied at 100%.

Sunspring Apartments will have plenty of amenities to provide residents with comfort and convenience! Amenities for this senior community will include a community garden, community building with full kitchen, fitness center, business center, bark park, washer/dryers in each unit, patio or balcony for each apartment home, bike storage, garages available for rent, additional storage units available for rent, and a connection trail to a future IndyParks Greenway.

Financing for the community includes tax exempt bonds issued by the Indiana Housing and Community Development Authority (IHCDA), a construction loan from First Merchants Bank, a permanent loan from KeyBank, and tax credit equity from CREA. First Merchants Bank and CREA are both local to Indianapolis and we are excited to partner with them on a local project!