31 Jan, 2022

Local Developer TWG Announces Affordable Housing Development in Muncie, Indiana

New project in TWG’s home state supports growing need for affordable housing options

Muncie, IN —TWG (www.twgdev.com), a national real estate development company specializing in commercial, market rate, affordable and senior housing developments, today announces the construction of River Bend Flats, a $12 million affordable, multifamily project on the southwest side of Muncie, Indiana.

Located at 1800 Burlington Drive, River Bend Flats is a three-story, 60-unit development, situated at  the intersection of Burlington and Memorial at the former Marsh and Family Dollar site. The affordable housing complex offers two-bedroom and three-bedroom apartment layouts, and units will be reserved for residents earning up to 60% of the area median income (AMI).

This project was made possible with the support of the City of Muncie, and with low-income housing tax credits (LIHTC) from the Indiana Housing and Community Development Authority (IHCDA).

“River Bend Flats will mark TWG’s first project in Muncie, and we are thrilled to expand our presence in our home state with this affordable housing project,” said Travis Vencel, Development Director at TWG. “Muncie is a welcoming and development-driven community in need of more affordable housing opportunities for local residents, and the construction of this project will provide opportunities for these residents to thrive.”

Outdoor amenities included in the new property are a community clubhouse and playground. Construction of the project is already underway, and the development is expected to be completed by Spring 2023.

Based in Indianapolis, TWG is currently expanding its national presence with the development of projects across the country, with recent announcements for developments in Iowa, Arizona, Washington and more. TWG most recently announced the construction of Rise on Meridian, a new $58 million multifamily housing complex on the southside of Indianapolis.