NEW HAVEN, Ind. (Inside INdiana Business) — One of the winners of the 2018 Stellar Communities designation is nearing completion on the first phase of an $8 million housing project. The NewAllen Alliance says Kady Gene Cove in New Haven features 50 two-bedroom rental units for low-income seniors.
Developed by Fort Wayne-based Keller Development Inc., the project has received affordable housing tax credits from the Indiana Housing and Community Development Authority. The NewAllen Alliance says the tax credits were made available through the Stellar designation.
The alliance, which covers Grabill, Leo-Cedarville, Monroeville, New Haven, Woodburn and Allen County, says the project fulfills a community need for affordable senior housing by providing the rental units at or below 60% of the area median income.
“This is an exciting project for the community of New Haven,” said Mayor Steve McMichael. “By offering seniors affordable housing, we are opening homes for new families coming into New Haven as well as providing space for New Haven families to grow. To me, this is truly what the Stellar project is about, taking what makes our city great, the community and providing opportunities for it to grow.”
In addition to the housing units, the project includes a community building with a full kitchen for residents’ use, as well as a fitness room.
The alliance says construction on phase 2 of the Kady Gene Cove project, which will include an additional 50 units, is expected to begin later this year.