Indianapolis, November 26, 2025
The Federal Home Loan Bank of Indianapolis has granted over $34.1 million to support 43 affordable housing projects, aiming to create or rehabilitate 1,578 units for low- to moderate-income households. This initiative promotes collaboration among local entrepreneurs, non-profits, and financial institutions to address the affordable housing crisis, fostering sustainable community growth.
FHLBank Indianapolis Allocates $34.1 Million for Affordable Housing
43 Projects in Indiana Set to Create 1,578 Affordable Housing Units
INDIANAPOLIS, IN – The Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis) has awarded over $34.1 million in Affordable Housing Program (AHP) grants to 43 housing development projects. This funding aims to support the acquisition, construction, and rehabilitation of properties that will provide affordable housing for low- to moderate-income households. Collectively, these projects are expected to create or rehabilitate 1,578 units of affordable housing.
This substantial investment illustrates a collaborative spirit among Indiana’s local entrepreneurs, non-profit organizations, and financial institutions. By addressing the affordable housing crisis head-on, these projects contribute to the economic fabric of our communities and pave the way for more sustainable regional growth. The AHP grants are a testament to how reduced regulatory barriers can stimulate beneficial partnerships between the public and private sectors in implementing meaningful housing solutions.
Since its inception in 1990, the AHP grant program has aimed to fill funding gaps for affordable housing initiatives, showcasing an ongoing commitment to Indiana’s residents. The program’s competitive nature encourages innovation, as project sponsors—including non-profit organizations and developers—team up with member institutions to maximize the impact of each grant.
Notable Funded Projects
The $34.1 million allocation consists of various projects across Indiana, each tailored to address different community needs. Key projects include:
- 21Flats in Indianapolis, supported by Centier Bank and Firefly Children and Family Alliance, awarded $500,000.
- Artesian Place in Martinsville, backed by Merchants Bank of Indiana and T&H Management Properties, LLC, awarded $750,000.
- Charlotte Cove in Fort Wayne, funded by Community State Bank and Keller Development, Inc., awarded $1,000,000.
- Kokomo Rescue Mission Renovation in Kokomo, funded by First Farmers Bank & Trust Co. and Kokomo Rescue Mission, Inc., awarded $1,000,000.
- Trafalgar Senior Apartments in Trafalgar, funded by German American Bank and Gratus Development, LLC, awarded $1,000,000.
Program Highlights and Benefits
The Affordable Housing Program (AHP) stands out for several key reasons:
- Competitive Grant Amounts: Grants can provide up to $1 million per project.
- Focus on Long-Term Solutions: The initiative is designed to address housing needs and create sustainable communities.
- Partnership Opportunities: AHP encourages collaboration among various stakeholders, helping to ensure projects meet local needs efficiently.
The Importance of Affordable Housing
Affordable housing is vital for ensuring economic growth and stability in communities. It provides families with the security and the quality of life that allows them to thrive. The recent AHP funding not only demonstrates a commitment to housing but also invigorates local economies by creating jobs and stimulating business growth. Solutions driven by public-private partnerships can make a significant difference in addressing the housing shortage faced by our low- to moderate-income families.
Conclusion
In summary, the recent actions taken by FHLBank Indianapolis to allocate over $34.1 million through its Affordable Housing Program represent a considerable advancement in addressing Indiana’s affordable housing crisis. These initiatives create opportunities for sustainable development, empower local economies, and exemplify the power of collaboration between local businesses and non-profit organizations. The community is encouraged to stay engaged with these initiatives and support local entrepreneurs as they work towards economic growth and stability in Indianapolis and beyond.
Frequently Asked Questions (FAQ)
What is the Affordable Housing Program (AHP) offered by FHLBank Indianapolis?
The Affordable Housing Program (AHP) is a competitive grant program offered by FHLBank Indianapolis that provides up to $1 million per project to support the acquisition, construction, or rehabilitation of properties that provide affordable housing for low- to moderate-income households. The program is open to project sponsors, including non-profit organizations and developers, who partner with an FHLBank Indianapolis member institution to apply for the grants.
How much funding has FHLBank Indianapolis awarded through the AHP in 2025?
In 2025, FHLBank Indianapolis has awarded over $34.1 million in AHP grants to 43 housing development projects. This funding aims to support the acquisition, construction, and rehabilitation of properties that will provide affordable housing for low- to moderate-income households, resulting in the creation or rehabilitation of 1,578 units of affordable housing.
Who are some of the notable projects receiving AHP grants in 2025?
Notable projects receiving AHP grants in 2025 include 21Flats in Indianapolis, Artesian Place in Martinsville, Bluffton Senior Apartments in Bluffton, BSV II in Bluffton, Center City in Lafayette, Charlotte Cove in Fort Wayne, Daffodil Hill in Marengo, Deerpark/111 Lakeview Dr. Apartments in Goshen, Emergency Shelter Facility in Goshen, Golden Villa Rental Rehab Project in Batesville, Ivy Flats in La Porte, Kokomo Rescue Mission Renovation in Kokomo, LaSalle Park Homes in South Bend, New Horizons in Indianapolis, Nichols in Salem, North Dearborn Village III in West Harrison, Senior Residences at Harrison Center in Lawrence, Trafalgar Senior Apartments in Trafalgar, Vincent Village Revitalization in Fort Wayne, West Oak Street Housing in Butler, and Winding Way Townhomes in Plainfield.
How can I find more information about the Affordable Housing Program and its grant recipients?
For more information about the Affordable Housing Program and a complete list of grant recipients, you can visit the FHLBank Indianapolis website.
Key Features of the Affordable Housing Program Grants
| Feature | Description |
|---|---|
| Grant Amount | Up to $1 million per project |
| Total Funding in 2025 | Over $34.1 million |
| Number of Projects Funded | 43 housing development projects |
| Total Units Created or Rehabilitated | 1,578 units of affordable housing |
| Eligible Applicants | Project sponsors, including non-profit organizations and developers, partnering with FHLBank Indianapolis member institutions |
| Program Start Year | 1990 |
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