INDIANAPOLIS — The Department of Metropolitan Development released the first stages of its affordable housing projects with the city of Indianapolis’ American Rescue Plan Act.
Like many cities across the country, Indianapolis is experiencing an affordable housing crisis that was made worse by the pandemic.
"We know that both homeownership and renting are becoming more expensive in Indianapolis," said Scarlett Andrews, the director of the Department of Metropolitan Development (DMD).
Alvin Sangsuwangul with the Kheprw Institute has seen this need up close. They help homeowners impacted by COVID-19 refinance their homes.
"When you have high housing costs it impacts everything else. What you can provide for your kids, your education, and what kind of food you can afford to purchase. The real estate market has gotten so crazy we have to look for more innovative solutions," said Sangsuwangul.
To help combat this crisis, the city is investing more than $6 million in funding for the preservation and creation of affordable housing.
It's part of Mayor Joe Hogsett's nearly $56 million anti-displacement strategy.
"Quality affordable housing for all is a critical part of a successful city, having a good place to live. That's what keeps our city thriving and competitive as compared to our neighbors," said Andrews.
The funds will support the creation of over 450 units of affordable housing, the Indy Accessibility Modifications Program and $2 million will go to supporting people recently housed that have experienced homelessness.
Andrews said this is just the beginning of their plans.
"The city of Indianapolis is committed to housing for all. That means housing for folks experiencing homelessness, folks who need to rent, and then folks who want to own their homes," said Andrews.