The Edge Fund completed another affordable multifamily housing loan in its first year of lending to multifamily developments. Edge Fund targeted this financing to preserve affordable housing units and create permanent supportive housing units to help end homelessness in Indianapolis. Marblehead Apartments received Edge Fund investment that will preserve 35 affordable housing units and create six permanent supportive housing units.
The IHCDA, in partnership with OCRA, granted Renew Indianapolis more than $7.3 million to preserve affordable housing units and create permanent supportive housing units to help the most vulnerable members of our community. All multifamily developments receiving Edge Fund investment will address affordable housing and homelessness issues in Marion County and illustrate a blueprint to duplicate the process for the future.
Renew Indianapolis is proud to be part of a dedicated group of partners that made this possible. The IHCDA and Renew Indianapolis partnership emphasizes the good work that can be accomplished through private and public partnerships. Thanks to partnerships with multiple public and private organizations, Renew Indianapolis financing allowed the creation of 58 units of permanent supportive housing and preserved 183 units of affordable housing.
- Merchants Affordable Housing
- Partners in Housing
- The Indiana Office of Community and Rural Affairs (OCRA)
- Indiana Housing & Community Development Authority (IHCDA)
- U.S. Department of Housing and Urban Development (HUD)
The mission of the Edge Fund is to promote resilient communities by investing in high-quality housing opportunities available to all people regardless of income. The Edge Fund offers flexible financial products that create diverse and inclusive affordable housing opportunities across the housing spectrum.