BLOOMINGTON, Ind. (Inside INdiana Business) — Ground has officially been broken on a 50-unit complex that aims to provide affordable housing for homeless families and other people with substance abuse disorders and mental health disorders.
A $9.5 million investment from nonprofit Cinnaire was organized by CDFI Friendly Bloomington, making the development the first project supported by Bloomington’s effort to become the nation’s first “CDFI Friendly” city. CDFI stands for community development financial institutions.
CDFI Friendly Bloomington is a nonprofit organization established to connect local investment opportunities and regional and national CDFIs.
CDFI Friendly Bloomington, Bloomington Mayor John Hamilton, the Indiana Housing and Community Development Authority, Centerstone and other community leaders attended the groundbreaking.
The Kinser Flats building design includes space for recovery-focused supportive services for tenants to be provided by Centerstone and other community partners.
“Access to safe and affordable housing along with support services is crucial to improving quality of life for families and individuals in need,” said Keith Broadnax, senior vice president for business development at Cinnaire. “Kinser Flats will positively impact Bloomington residents, providing a vibrant new community to call home with on-site access to important social services. We are pleased to partner with CDFI Friendly Bloomington and to support their innovative mission. We look forward to working together to further enhance community and economic development in the Bloomington area.”
Additional funding partners include the city of Bloomington Housing and Neighborhood Development Department, the Bloomington Housing Authority, Old National Bank, the Federal Home Loan Bank of Indianapolis and IHCDA.