COLUMBUS, Ind. — The city has granted a 10-year property tax abatement to Gateway Senior Village as part of its plans to build 54 units of affordable housing in Columbus.
Gateway would be located at 1425 Michigan St. in a location already designated as an Economic Revitalization Area. The planned facility would create three full-time jobs, according to a memorandum from Assistant Director of Community Development Robin Hilber.
The memorandum said that the developers, Housing Partnerships Inc and Jonesboro Investments Corp., anticipate starting construction in August of 2021 and having the facility approved for occupancy around September of 2022.
“It’s a very tight space and will provide us much-needed senior housing, so we’re asking for approval on this,” Hilber said. “It’s an $11.2 million project. Ten percent of the units will be handicap accessible, and the other 90% will be adaptable.”
Hilber, who presented the tax abatement resolution to city council Tuesday night, said that the original project plan was to build a three-story facility with 54 two-bedroom, one bath units. However, there is now a possibility that the developers may build a four-story, 64-unit facility instead, and that some of these units might be one bedroom, one bath. She said that the applicants will have to go before the planning commission to finalize the design details.
The project narrative stated that for a 864-square-foot two-bedroom senior apartment, the anticipated “target market rent” is $381 for someone at 30% of Area Median Income (AMI), $699 for 50% AMI and $755 for 60% AMI.
For more on this story, see Thursday’s Republic.
