HOMEOWNERSHIP
Equitable Housing
Age-old patterns of racism continue to inhibit minority neighbors from owning their own homes in our community. NEAR is working with mortgage lenders, the Fair Housing Center of Central Indiana, and the Indianapolis Neighborhood Housing Partnership to create more accessible and clear paths toward homeownership for all. This includes marketing strategies to increase awareness of available homebuyer resources to minority households.
Available Properties/Projects in Development
Projects listed here are funded with assistance from the City of Indianapolis through the Department of Housing and Urban Development. Potential buyers MUST meet program requirements including income restrictions and certain monthly payment guidelines in order to qualify. Income is limited to 80% of the area median income based on household size. The current income limits are listed below.
2023 (effective 6/23 -6/24) 80% AMI Limits Based on Household Size (HH):
HH of 1 - $54,150, HH of 2 - $61,900
HH of 3 - $69,650, HH of 4 - $77,350
HH of 5 - $83,550, HH of 6 - $89,750
855 N Oakland Ave (expected completion fall ‘24) 1,200 s.f., New construction 3 bd, 2 bth townhome 857 N Oakland Ave (expected completion fall ‘24) 1,200 s.f., New construction 3 bd, 2 bth townhome 922 N Oakland Ave (expected completion fall ‘24) 1,200 s.f., New construction 3 bd, 2 bth townhome 924 N Oakland Ave (expected completion fall ‘24) 1,200 s.f., New construction 3 bd, 2 bth townhome 256 N Randolph Street (expected completion fall ‘24) 1,175 s.f., New Construction 3bd, 2bth townhome 1829 Marlowe Avenue (expected completion fall ‘24) 1,175 s.f., New construction 3bd, 2bth townhome 1831 Marlowe Avenue (expected completion fall ‘24) 1,175 s.f., New Construction 3bd, 2bth townhome How to apply for an affordable home - coming soon
Community Land Trust
NEAR is working with other community partners and DMD to ensure creation of a local Community Land Trust. This independent nonprofit will have the capacity to permanently preserve developed property and houses as affordable for up to 99 years. The bottom line on this effort is that Indianapolis is currently losing much of its affordable housing and low-income neighbors (many challenged by racial inequality) as more and more are locked out of opportunity to purchase a home at an affordable price. The CLT will preserve affordable housing that NEAR and others develop.