FORT WAYNE, Ind. (WANE) – The Northeast Indiana Regional Development Authority (RDA) has recommended funding for a Fort Wayne housing project.
The board met Tuesday to consider several proposals. The group approved funding for three, including the Posterity Scholar House.
The housing project is aimed at single-parent families and will cost roughly $12.4 million. The RDA approved a grant of $2,484,180 which will cover 20 percent of the costs.
As NewsChannel 15 reported in June, the project is being undertaken by non-profit Joshua’s Hands. It will focus on making housing, transportation, and childcare costs easier and more affordable for single-parent students. The project would be done in several phases. The first would focus on the scholar house – 44 two-and-three bedroom apartments will a retail component and space for a family restaurant, urban farming, solar energy grids, a child learning development center, and a neighborhood life development center.
Additional phases would include lease-to-own townhouses and market-rate single family homes.
The entire project would cost $45 million but the nonprofit is focused on the first phase. In June, organizers said they had raised $7.5 million for phase one and the recent RDA grant would put them close to realization.
The project’s location is near McKinnie Avenue and South Anthony Boulevard.
Tuesday, RDA approved a $3.5 million grant for the Buffalo Street Redevelopment Project in Kosciusko County and a $3.8 million grant for the Michiana Event Center in LaGrange County.
The board also heard presentations for The Landing and the Clyde Theater Renovation Project in Fort Wayne. The Landing is requesting $6.9 million and Clyde Theater is requesting $1 million.
The RDA is responsible fore disbursement of $42 million through the Regional Cities Initiative approved by the state legislature in 2016.
According to the RDA, $25.9 million has been recommended to the Indiana Economic Development Commission. The RDA said those recommendations have leveraged $105.9 million in private investment in northeast Indiana.