BROOKVILLE, Ind. (Inside INdiana Business) – Brookville’s newly-rehabbed senior living community is set to open Friday. The historic Valley House Flats, which underwent a $12 million restoration, is the first completed Opportunity Zone project in the state of Indiana.
What began as the Valley House Hotel in 1852 will continue as apartments for senior, active adults in the historic and Annex buildings. The 27-unit facility includes 20 market rate apartments.
“We are pleased to be able to support the revitalization of an Indiana landmark through the Low-Income Housing Tax Credit program,” said Indiana Housing and Community Development Authority Executive Director Jacob Sipe. “Now complete, this incredible project will provide a new, safe, decent, and affordable housing option for seniors wishing to live in Brookville.”
The units feature historic architectural elements such as the original floor to ceiling windows, crown moldings and hardwood flooring.
U.S. Opportunity Zones were designated throughout the country in 2018 in response to bi-partisan legislation at the federal level.
“Valley House Flats is exactly the type of project our Opportunity Zone legislation was meant to spur. This renovation of a historic building in an area ripe for development will bring more people to Brookville and improve the vibrancy of its downtown. Congratulations to the local leaders who made this happen” said U.S. Senator Todd Young.
Batesville Senior Café, a southeastern Indiana developer of affordable senior housing, developed the Brookville project.