(OLDENBURG, Ind.) – The State of Indiana is awarding tax credits to help fund the development of senior housing at the Sisters of St. Francis campus in Oldenburg.
The Indiana Housing and Community Development Authority (IHCDA) is awarding $1.3M in tax credits to finance the project at what is called “Spires Senior Village” which is located at 22139 Vine Street.
According to the application, the development will rehabilitate three buildings, including Olivia Hall and Theresa Hall, into housing for residents that are 62 or older.
The project application suggests 65 units with 59 being single-bedroom and six being efficiency apartments.
Spires Senior Village was one of 21 projects awarded federal or state tax credits through the IHCDA. The program aims to incentivize private developers to fund the construction, acquisition and rehabilitation of affordable housing communities throughout Indiana.
There was no timeframe listed as to when any development or construction could begin.
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