TWG Development received an award of rental housing tax credits for Wabash Place Apartments, a $26.5 million multifamily community coming to Terre Haute. These Affordable & Workforce Housing Tax Credits, $1.2 million in this case, are made available through the Indiana Housing and Community Development Authority.
The real estate development company, which specializes in commercial, market rate, affordable and senior housing developments, and the city of Terre Haute will work together on this development to address the need for more housing availability and stability, Mayor Brandon Sakbun said in a news release Thursday.
Wabash Place, at 2929 S. First St., will consist of 120 apartment units offering a mix of one-, two-, and three-bedrooms.
Many amenities for residents of all ages will be offered, including a clubhouse, playground, on-site property management, free in-unit WiFi and various activities and programs for residents.
“Wabash Place will be a well-rounded community, incorporating quality design with energy-efficient materials, and will offer residents a wide range of amenities and programs,” said Marisa Conatser, senior development director for TWG. “We strive to create a place that residents are proud to call home.”
Applications were submitted to the Indiana Housing and Community Development Authority in July of 2024 for the tax credits.
Only five developments across the State were awarded – Wabash Place received the allocation for the southwest region.
Construction is planned to begin in 2025 and to be completed in 2026.
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