Last month, the nonprofit HAND Inc., whose mission is to provide affordable housing in Hamilton County, was awarded a combined $2 million to construct 11 rental cottages in Fishers.
HAND is receiving a $1.5 Million from the Indiana Housing and Community Development Authority HOME Investment Partnerships program and a $500,000 loan from its Development Fund.
The cottages are planned on 2 acres at the southwest corner of Cumberland Road and 141st Street. Construction planned to begin in early next year.
Two cottage styles of cottages — four two-bedroom units and seven three-bedroom units around a common green space – will be constructed. Most will be set aside for occupants who earn at or below 60 percent of Fishers’ median income.
“We know that residents throughout Hamilton County need a wide range of housing options—including some affordable ones—and HAND is thrilled to be able to help,” HAND, Inc. Executive Director Andrea Davis stated in a media release.
While the cottages will be HAND’s first rental properties in Fishers, the organization owns eight rental communities throughout Hamilton and Boone counties, including in Carmel, Cicero, Noblesville, Sheridan and Lebanon.