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Bill No. 23-40 Advantix Development Corporation Declaratory Res. Multi-Family Development Real Property Tax Abatement - Multiple Properties
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Bill No. 23-40 Advantix Development Corporation Declaratory Res. Multi-Family Development Real Property Tax Abatement - Multiple Properties
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6/22/2023 10:28:50 AM
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6/21/2023 5:30:36 PM
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ADVANTIX AWARDED 3 TAX CREDIT PROJECTS <br /> The Indiana Housing and Community Development Authority MUNCIE, INDIANA: Advantix will construct Southern Terrace, <br /> (IHCDA) announced that Advantix Development Corporation has consisting of 50 newly constructed units of affordable housing using <br /> been awarded Low-Income Housing Tax Credits (LIHTC) for three vacant property, much of which was blighted property acquired <br /> affordable housing projects in Indiana. Out of 33 total applications through tax sale.Ten of these units are set aside for residents with <br /> submitted throughout the state of Indiana, Advantix was selected developmental or intellectual disabilities. All of the units are high- <br /> for 3 out of 17 projects that were awarded. Advantix estimates quality, lease-purchase units and will pave the way to help the <br /> total investment for the 3 projects combined will equal over$32.6 families we serve to become homeowners. Advantix will serve <br /> million upon completion. as the developer, general contractor, and property manager. The <br /> PRINCETON,INDIANA: The Princetown Place project will create 44, estimated investment for this project is$11.8 million. <br /> high-quality, affordable, two-story townhome units located in the MARION, INDIANA: 38 South creates 24 newly constructed units <br /> center of downtown Princeton. Using property currently occupied of affordable housing using abandoned property acquired through <br /> by a dilapidated former school building whose roof was destroyed tax sale. In addition, 24 existing units of affordable housing will <br /> in a storm, nine newly constructed buildings and a Community be rehabilitated. Ten of these units are set aside for residents <br /> Center/Office facility for use by all residents will be constructed. with developmental or intellectual disabilities. Advantix will serve <br /> New streets, curbs, parking, and utilities will be included in the as co-developer, general contractor, and property manager. The <br /> overall development. Advantix will serve as the co-developer, estimated investment for this project is$9.9 million. <br /> general contractor, and property manager. The total investment All three projects are expected to begin in January 2024. <br /> after all is said and done will be approximately$10.8 million. <br /> Alga <br /> ..------'.1.r _a <br /> V .Y.r <br /> ...V.11111=': . -- Is . '',i.', <br /> V j` t <br /> 1 r , <br /> y. m <br /> . <br /> r <br /> LIIry% <br /> ...,, _ <br /> " �+" Two-Story Townhomes <br /> • <br /> 1' 1 <br /> _."I if-7' -� T' `�� _ WI �- . <br /> FRONT BUILDING ELEVATION SIDE BUILDING ELEVATION <br /> -,eiArSingle Family Home Construction <br /> www.advantixcorp.com I www.evansvillehousing.org 19 <br />
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