The City is pleased to announce the award of funds to four organizations, 466 Works Community Development Corporation, Allen Edwin Homes, Habitat for Humanity of St. Joseph County, and South Bend Heritage Foundation, to build new housing in our urban neighborhoods.
“As part of the City’s New Neighborhood Homes Initiative, these awards will close the financing gap and enable our partners to build a variety of new housing on vacant lots,” said Mayor James Mueller. “I look forward to seeing these new housing developments improve the quality of life in South Bend and our neighborhoods.”
In total, the city is contributing $2.67M to support the development of 29 units, of which 19 will have income restrictions so they are affordable to low income and workforce households. The City’s goal is to support a thriving housing market that offers appealing neighborhoods with diverse housing choices. To assist with meeting this goal, the City previously released a Request for Proposals (RFP) offering resources to address market challenges that may otherwise prohibit development in urban neighborhoods.
“We know that in many of our neighborhoods it costs more to build or rehabilitate a home than what the home will appraise for once completed,” said Chief Neighborhoods Officer, Elizabeth Maradik. “The New Neighborhoods Homes Initiative, including this funding, is an effort to help close that gap and provide housing options for our residents.”