3 Mar, 2021

Workforce housing project in Seymour receives state funding

TWG's Seymour Lofts to begin construction Fall 2021
Tuesday, March 2nd, 2021
By January Rutherford, The Seymour Tribune

SEYMOUR, Indiana — Shortly after announcing his goal last month of increasing housing options in Seymour, Mayor Matt Nicholson received some good news.

A $10.2 million project first proposed by TWG Development in 2019 to address the need for more affordable workforce housing is now able to move forward.

Construction on Seymour Lofts, a 50-unit apartment complex, should get underway in late fall and be completed by fall of 2022.

Last week, TWG Development in Indianapolis was awarded $7.4 million in federal housing tax credits from the Indiana Housing and Community Development Authority to build the apartments.

“I’m glad this project received approval,” Nicholson said. “This will help with the workforce housing shortage we are facing.”

The tax credits were essential to getting the project off the ground, said TWG spokesman Ken Bretz.

“With the IHCDA program and requirements for keeping the rents affordable to our tenants, the state tax credits are crucial to the project as they are the reason we are able to provide new, safe, affordable housing for the 15-plus years that are required by the IHCDA program.”

 

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