Over $15 million in READI funding approved for Northeast Indiana

Housing, arts campus and healthcare education center are among the approved projects for the regional initiative for economic acceleration and development (READI) Grants

FORT WAYNE, Ind., November 30, 2022 /PRNewswire/ — The Northeast Indiana Regional Development Authority (RDA) has granted approval 15 million dollars in new Regional Economic Acceleration and Development Initiative (READI) grants for five new projects.

Approved projects include apartments and an arts campus downtown FortWaynea health education center in Allen Countylive in DeKalb Countyand an education and innovation center in County of Steuben.

Through READI, 17 regions across the state, representing all 92 counties, drive projects and programs designed to improve Indiana Regions for current and future generations of Hoosiers. Together, of the state 500 million dollars Investment is expected to generate an additional return $9.86 billion public, private and charitable funds invested (19.72:1 investment leverage ratio) in improvement Indiana Quality of life, location quality and opportunity quality.

In late 2021, the Indiana Economic Development Corporation (IEDC) issued the RDA 50 million dollars by investing in projects Indiana READI program. This new round of funding comes just three months after being approved by the RDA 18 million dollars for six projects in Northeast Indiana.

“These investments in Northeast Indiana will attract and keep more people in a growing area of ​​the state,” he said Vincent Ash, Vice President of Development at the Indiana Economic Development Corporation. “Investments in housing, education and the arts, as reflected in these projects, will ensure that Indiana remains an attractive place to live and work and contributes to the prosperity of the region. Investing in these quality of life and opportunity projects is the true essence of what the READI program was intended for.”

The Northeast Indiana Regional Partnership (NEI), a leading regional economic development organization in Indiana, provides executive leadership for the RDA. NEI will continue to work with the RDA on the newly announced initiatives.

The five projects, approved in everyone, DeKalband steuben counties are:

  • 5 million dollars for Lofts at Headwaters, a downtown housing project FortWayne This will create 217 apartments, 15 townhouses, 12,000 square meters of retail space and a multi-storey car park with 651 spaces.
  • 6 million dollars for the Arts Campus downtown FortWayne, a renovation project that will save the historic theater and address issues such as electrical systems and lighting, modern stage equipment, and safety for staff and volunteers. the city and Allen County cover funds and prioritize operating resources in their budgets to keep the building functional.
  • $1,500,000 for a housing project in DeKalb County, which includes two projects. The first, Fortify Home LLC, will renovate a motel and create 28 temporary shelters. The second, Seven 15 Properties LLC, will create 100 residential units and 50 micro-commercial suites and establish a live-work concept.
  • $1,500,000 for the Cameron Education and Innovation Center, a development project in County of Steuben which will establish a center for health science programming in partnership with Trine University.
  • 4 million dollars for the construction of a health education center at Trine University in Allen Countywhich will include a simulated patient care center and offer numerous degree programs.

“These funds will result in both the restoration and renovation of significant landmarks in the Northeast Indiana. From the new Lofts at Headwaters housing project to the revitalization of the Arts Campus, the new READI grants are part of our long-term goal of ensuring economic prosperity for Hoosiers in the area,” he said Jeff TurnerChairman of the Board of the RDA.

This new funding will support important projects that are part of a larger goal Indiana: accessible housing, attracting and retaining talent and regional prosperity. The housing projects will help fight homelessness, the education centers will create new jobs and the renovation project will restore a historic building with an emphasis on art.

Media contact: Jonathan Sackett
[email protected]

SOURCE The Northeast Indiana Regional Partnership