Housing - The Georgetown
Additional Info:
Originally built in 1964, The Georgetown served upscale renters in the Meadows area of north Indianapolis for more than 40 years. Recent history was not as kind as the property fell into disrepair, suffered fire damage and sat vacant for a decade before acquisition through foreclosure by the City of Indianapolis. The city donated the property to Insight for redevelopment as mixed-income, affordable rental housing.
Using a mix of HUD Replacement Housing Factor (RHF) funds; state Low Income Housing Tax Credit equity; Affordable Housing Program grant funds from the Federal Home Loan Bank; and public housing operating subsidy, Insight created 90 rental units (including 37 public housing units) within nine townhouse-style buildings. Five of those units are reserved as transitional housing units for formerly homeless residents, while 14 rent at market rate.
The Georgetown is located a short distance from a local park, recreational trails, educational facilities, health services and shopping areas.
2009 Keep Indianapolis Beautiful Monumental Affair Merit Award Winner, Community Development.
