The Wabash River Regional Development Authority (RDA), in conjunction with Thrive West Central, celebrated the first Homes for the Future Pilot Program ribbon cutting. The ceremony celebrated the first home to be built as part of the pilot initiative.
The Homes for the Future Program is an initiative for homebuilders and developers to incentivize them to build new, age-friendly homes in West Central Indiana, encompassing Clay, Parke, Sullivan, Vermillion and Vigo Counties. Thrive was granted $1.8 million from the Wabash River RDA to invest in long-term, sustainable housing for the identified region. The program allowed for homebuilders and developers to apply for up to ten percent of the building costs to cover eligible infrastructure expenditures upon the completion of each home built. The program emphasizes a focus on developers and homebuilders creating homes at market rate to meet the needs of an ever-growing workforce and population in the region.
“The RDA is extremely happy with the results of this program, which has since led to additional funding from both the City of Terre Haute and Vigo County, to continue the overall success of this program at a more local level. When the RDA chose this initiative as part of the $25 million received from READI round one, we knew this could be a catalyst for continued housing development at all levels, which is exactly what this program has done,” states Wabash River RDA Board Chair Jon Ford.“We know from various sources and the most recent housing study conducted for West Central Indiana that every form of housing is needed. Although this is the start of an exciting and important initiative, we have much more to accomplish in housing. The Wabash River RDA remains committed to exploring the expansion of this program or others that may benefit the counties within our designated region.”
The first home celebrated is located at 2137 N. 14thstreet and included an open house. Members of the community were invited to tour the house and see how the Homes for the Future Program is benefiting the neighborhood and community.
Thrive West Central Executive DirectorRyan Keller noted, “I’m extremely grateful to have the support and trust of the Wabash River RDA as our team evaluated the housing study at every level. There was no doubt a housing incentive program could be useful in our overall quality of life efforts regionally. Working collaboratively with each county to move the needle as efficiently as possible with quality of work was the overall goal. We know there are lots of job openings with great promise for additional economic vitality for our region, but these workers need places to live. We are taking one part of the plan at a time and moving the needle along with other partners in the process. This will not be our last ribbon cutting and celebration; we have a long way to go.”
Thrive West Central is continuing the next phase of the program with round two regionally and recently embarked on a similar program with the City of Terre Haute and Vigo County. You can learn more about the Homes for the Future Program at https://thrivewestcentral.com/community/homesforthefuture/.
“The Indiana Economic Development Corporation (IEDC) was elated to learn the state’s commitment of $1.8 million created an additional $25 million in round one of this important quality of life program for West Central Indiana,” states Heidi Young, Program Manager, Regional Development & Redevelopment for the IEDC. “The Wabash River RDA made an effective choice that aligns with local and state efforts to continue the overall growth and talent attraction and retention efforts in Indiana. We look forward to witnessing more ribbon cuttings in the future as this program continues.”