Lincoln Apartments serve 75 of Indianapolis’ formerly homeless veterans. The apartments are located at a former iron foundry, which had sat vacant since 1962 when the iron works foundry closed. In order to realize financing sources for the $11.6 million development, Lincoln partners had to engage private, public and nonprofit entities. The Indiana Housing Development Authority (IHCDA) awarded a Low-Income Housing Tax Credit (Housing Credit) allocation and Cinnaire’s $11 million equity investment provided the financing to make the vision of Lincoln Apartments a reality.
Cinnaire Solutions partnered with Volunteers of America, IHCDA, Near West Coordinating Committee, Westside CDC, community leaders and stakeholders to develop Lincoln Apartments, the first project serving formerly homeless veterans in Indiana. Starting with remediation efforts of the former foundry, the development team worked closely with the City of Indianapolis to have the land donated and cleaned up with $450,000 in grants from the Environmental Protection Agency (EPA) and the Department of Housing and Urban Development (HUD) and $50,000 in state brownfield funding. IHCDA provided $500,000 in HOME funds and the Federal Home Loan Bank of Indianapolis made an AHP award of $500,000 through their member bank, the National Bank of Indianapolis.
Lincoln Apartments provides 75 high-quality, fully furnished affordable homes and offers a full-time Support Services Coordinator who follows the Housing First Model that was designed to improve quality of life for veterans while encouraging them to pursue a better life. The Department of Veterans Affairs (VA) maintains an office at Lincoln Apartments with two case managers and residents have access to services at the nearby VA hospital. Volunteers of America Indiana offer on-site coordinated support services and ongoing care for residents. Services focus on continued stabilization of housing for the veteran and their development of skills, including healthy lifestyles, relationship building/reunification, appropriate utilization of community resources, employment counseling, improved financial stability and community involvement. Participation in services is voluntary and tailored to those areas the veteran seeks to make changes in his or her life.
In addition to supportive services, the development provides a large resource center equipped with a computer lab, a large community room adjacent to an outdoor patio space, fitness room, and several gathering areas designed to encourage a sense of fellowship and to foster a highly supportive, peer-driven culture which has proven to be very effective in programs serving veterans.
Lincoln Apartments was nominated for an Affordable Housing Finance Readers Choice Awards, receiving recognition as a finalist in the Special Needs category.