SULLIVAN — The city of Sullivan and its partners on Friday broke ground on a nearly $14 million housing project they say will have a transformative impact on the city.
The project will bring nearlyy 40 lease-to-purchase townhomes, single family homes and duplexes in different locations; several townhomes will be located on property at North Court and Wall streets, the site of Friday’s groundbreaking.
“Today is not just about breaking ground on new homes; it’s about breaking down barriers for our residents,” Mayor JD Wilson said during the ceremony.
The project is being funded with $12 million in tax credits from the Indiana Housing and Community Development Authority along with $800,000 from the Indiana Regional Economic Acceleration and Development Initiative, according to a news release.
The affordable housing project will have a positive impact on the lives of residents and it will contribute to local economic growth and create opportunities for businesses, Wilson said.
“It is a testament to what is possible when public and private entities join forces for the greater good,” Wilson said. “This housing project is more than just brick and mortar. It’s a symbol of a brighter future for the city of Sullivan.”
The lease-to-purchase model offers a pathway to homeownership for individuals who might not have considered it otherwise, officials say.
Partners include the city of Sullivan, the Indiana Economic Development Corp. (IEDC), Wabash River Regional Development Authority (RDA), and Radiant Communities Development Corp. (CDC), which is the contracted developer.
Marchelle Berry, formerly with Radiant, had previously worked on the housing project, which was several years in the making.
The first conversation took place in October 2020. Now, after two tax credit rounds, a pandemic, unprecedented rising construction costs and a tornado, “We’re here today breaking ground” on a $14 million housing development, she said.
She praised the vision of former Mayor Clint Lamb and the continuing leadership of Mayor Wilson.
Jim Exline, president of the Sullivan city redevelopment commission and a member Wabash River Regional Development Authority, credited partnerships with bringing the project to fruition.
Funding for the project was made possible through a READI grant and the affordable tax credit program; the project developer sells the tax credits to private partners, which provides equity for the affordable housing.
“This is a special, special day,” Exline said.
Wilson said the city has had a blight elimination program in the past. “Now, we’re building housing back on those empty sites and putting people in those homes” and putting the properties back on the tax rolls, he said.
Construction will start soon, Wilson said, with completion anticipated “in about a year.”
The current city fire department building located at 32 N. Court will be demolished and relocated to make way for the townhomes that will be located there, Wilson said.
“What an impact, obviously for the community but especially downtown Sullivan,” he said. “All these rural communities are trying to drive traffic downtown. … There is no better traffic than the ones who are going to be living here” in the Court Street town homes.
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