Housing Authority seeking state grant for Lincolnshire project

Dec. 6—ANDERSON — The Anderson Housing Authority is working to finalize financing for the rehabilitation of the Lincolnshire Apartments.

Kevin Sulc, project development director for the Anderson Housing Authority, said Wednesday the nonprofit arm of the agency is working to dissolve the partnership with a private development firm.

He said the agency is working with two banks to secure financing to complete the project that had an estimated cost of $4.1 million.

Sulc said there is a gap in funding of an estimated $1 million and the Housing Authority has applied for a state READI grant to cover the projected shortfall.

Construction costs are estimated at $2.5 million, he said.

Sulc said several options for the project are being discussed with Fredricks Inc., the general contractor.

Demolition work has started on the interior walls of the apartment building with the next step being the replacement of the windows.

The Anderson Redevelopment Commission is providing $770,000 toward the project, using tax increment financing dollars to pay off a bond for the purchase of the building.

The administration of Mayor Thomas Broderick Jr. has provided $575,000 in American Rescue Plan funds.

Sulc said as a result of the American Rescue Plan funding there will be a cap on the rent that can be charged for eight apartment units.

The plan is to renovate the four-story brick apartment building, built in 1927 on the northeast corner of 12th and Lincoln streets.

It now has 40 studio apartments, but the proposal is to create 21 one-bedroom apartments and nine studio apartments.

Follow Ken de la Bastide on Twitter @KendelaBastide, or call 765-640-4863.