INDIANAPOLIS (WISH) — The City of Indianapolis is hoping to revitalize a neighborhood on the city’s south side and the families that live their by subsidizing 13 new houses.

The homes will be built on vacant lots using federal money with the goal aimed at helping emerging neighborhoods. Grants will be made available to lower and middle-income families so they can stay in the neighborhood they call home.

The Old Southside neighborhood sits in the shadow of Lucas Oil Stadium and is just a stone’s throw away from Eli Lilly and downtown Indianapolis. The neighborhood has seen some good times and some not so great.

Jackie Velasquez grew up in Old Southside. Her aunt’s old backyard now sits in an empty lot.

“It has gone up and down, up and down. When we first came everybody was pushing little baby carriages,” said Velasquez.

Velasquez’s granddaughter, Sierra Riaz, is one of the first people to be approved for one of the new homes. Riaz is the fifth generation from her family to put down roots in the Old Southside neighborhood.

“I love this area; I love being downtown, but it is hard to get into homes that are here,” said Riaz. “I would like to see some of these old lots that are here sitting vacant filled with more people.”

The Indianapolis Neighborhood Housing Partnership (INHP) and neighborhood leaders worked together to establish the the Lift Indy grant program Riaz has been approved for.

The neighborhood association chose and helped secure vacant lots, while INHP is providing the builder and administering money for the project. The houses will be available at a fair market price reduction to any buyer that earns up to 80% of the average income in the area.

“A family of four earning a combined income of a little under 64 thousand
dollars qualifies,” said Mayor Joe Hogsett.

The houses are designed to fit into the neighborhood and not stand out. They will go on the market for $190,000, but with the Lift Indy grant from the city, they will sell to buyers who are approved for the program for around $120,000.