Three proposed affordable housing and senior living apartment complexes in Columbus have been denied state tax credit financing.
The Indiana Housing and Community Development Authority announced on Thursday that applications for the tax credits from the proposed Gateway Senior Village on 14th Street, Haw Creek Preserve Senior Apartments on 25th Street and St. Bartholomew Flats on Sycamore Street were turned down.
An application for state tax credits toward the rehabilitation of an apartment complex in Edinburgh, Country Place Apartments, was also rejected by the agency.
Sixteen of 62 applications to Indiana Housing and Community Development Authority for federal rental housing tax credits were approved, worth $13.9 million in credits.
Gateway Senior Village and Haw Creek Preserve Senior Apartments were proposed as affordable senior-living apartments, while St. Bartholomew Flats was proposed as an affordable family housing complex.
Mark Lindenlaub, executive director of Thrive Alliance, had been working on the Gateway Senior Village project and said he was disappointed that it was not granted tax credits. Lindenlaub said he will now go back and assess the proposed development, which calls for 54 two-bedroom units.
However, he intends to pursue the tax credits again for the project this fall, he said.
Tax credits for the Gateway Senior Village and St. Bartholomew Flats projects were also denied tax credits a year ago, said Robin Hilber, community development programs coordinator with the city. She said she intends to reach out to all of the developers and see whether they intend to move forward with their projects without the tax credits or to reapply again.
St. Bartholomew Flats will also be re-evaluated after being denied for tax credits, said Nick Surak, vice president of The Woda Group. The company had proposed building a 60-unit complex, with 42 one-bedroom and 18 two-bedroom units.
Surak said he plans to contact the property owner on potential next steps. In addition, he will also reach out to the Indiana Housing and Community Development Authority to get a better sense of how it would score projects next year after revising its qualified allocation plan.
Meanwhile, the development of Haw Creek Preserve Senior Apartments is still planned even though tax credits were not granted for the project, said Jeff Ryan, vice president of development for RealAmerica Development, based in Fishers.
[sc:pullout-title pullout-title=”About the projects” ][sc:pullout-text-begin]
Gateway Senior Village
Location: 1520 14th St., Columbus
Resident type: Elderly
Units: 54
Developer: Housing Partnerships Inc.; Mark Lindenlaub
Estimated cost: $973,276
Credit requested: $984,437
Haw Creek Preserve Senior Apartments
Location: 2655 25th St., Columbus
Resident type: Elderly
Units: 70
Developer: RealAmerica Development LLC
Estimated cost: $10.8 million
Credit requested: $1 million
St. Bartholomew Flats
Location: Eastern half of the 700 block of Sycamore Street, Columbus
Resident type: Family
Units: 60
Developer: Robert Bender
Estimated cost: $9 million
Credit requested: $825,000
Country Place Apartments
Location: 104 Country Place Circle, Edinburgh
Resident type: Family
Units: 24
Developer: Woda Cooper Community LLC; Jim Zambori
Estimated cost: $3.1 million
Credit requested: $249,703
[sc:pullout-text-end]
