New housing projects in South Bend

To address the problem of the affordable housing crisis that plagues the country, the state of Indiana, specifically the city of South Bend, is developing a new housing initiative that will be aimed at residents with mixed incomes.

In a previous project, and in order to revitalize the community, the South Bend administration proceeded to demolish more than 990 houses that were vacant or abandoned by owners who were evicted after a foreclosure process.

From there, the city was heavily affected and with a high demand for housing that caused an affordable housing crisis that to date the administration continues to create and develop measures that can slightly alleviate the real estate market in South Bend.

One of the measures that the city is now going to implement is the development of a housing project on the lots that have been left vacant after the demolition of the aforementioned properties. This project, city officials say, aims to partially repair the broken real estate market.

For the development of the housing, the South Bend administration has agreed with a non-profit organization to build 92 properties that will be allocated to residents with mixed incomes, creating hope for the right to decent housing for people of all income levels and effectively addressing the city’s demand.

Affordable HomeMATTERS Indiana and Intend Indiana are the organizations in charge of developing the new housing project. According to representatives’ statements, the construction of the first houses will be carried out on Blaine Avenue and Harvey Street and will be delivered in approximately five years.

To ensure that South Bend residents can access the new project with greater certainty, the homes will be subsidized to make them more affordable and will also have financing through Edge Fund; everything is done with the aim of making people’s monthly payments much more affordable, says the executive of Intend Indiana.

Although the sale price of the future homes will not exceed $200,000 for the mid-range house, the sale price is not yet clearly defined, but it is certain that its value will be adjusted, to a greater extent, to the mixed incomes of the population and will depend on the type of property the future buyer wishes to obtain.

The organizations participating in the project hope to initially work on the development of these properties, but their fundamental goal is to further address the issue of affordable housing through the use of the remaining lots and vacant and abandoned foreclosed homes that are under the control of the South Bend administration.

They also hope to continue providing job offers that help the city’s economy. Therefore, for the development of this project, the organizations hope, as much as possible, to enter into service contracts with local companies and will even offer them loans so they can start their work, especially to small businesses in South Bend.

Available foreclosures:

South Bend: 150 homes available.

By Elías DaSilva | 05 de Noviembre de 2024.