Feb. 20—ANDERSON — A third planned apartment development is planned for the Wigwam property in downtown Anderson.

BWI through its new company Building and Impacting Communities Inc. plans to construct a $12.9 million building on property to the southeast of the historic Wigwam complex.

The project was awarded $1.2 million in tax credits and $750,000 in development funds by the Indiana Housing & Community Development Authority over ten years.

The plan is to construct an L-shaped building with 20 one-bedroom and 24 two-bedroom apartments.

BWI opened the 44-unit Fieldhouse Apartments at a cost of $12.2 million in 2019 and the 130-unit Sweet Galilee, $23.5 million complex in 2022.

Vince Smith, executive director of Building and Impacting Communities Inc., said it is an affiliate of BWI which is owned by Gary Hobbs.

The new development will be called Home Court at the Wigwam.

"This will be affordable housing aimed at individuals that are 50 and 60 years old," Smith said. "We're trying to add to the projects already taking place in the area."

Smith said the hope is to finalize financing in June and start construction this summer.

He said construction will take approximately 16 months.

"There are still issues with the supply chain, so we're taking the project slow," Smith said. "Looking at 14 to 16 months to complete."

He said the Fieldhouse as of last week has two vacancies and Sweet Galilee is at 70% capacity.

"It was always the plan to have additional housing in the area," Smith said. "We're trying to build up the concentration in the area."

Concerning the iconic Wigwam complex and connected classroom space, Smith said there continues to be interest in the Wigwam.

"We have outside investors that are looking at it," Smith said. "One of the things we're working on right now is to try and show the interest in the city and individuals in the facility."

There are conversations taking place to open a grocery store in the Wigwam, he said.

Eventually the plan is to add some apartments in the area above the Jane Pauley Community Health Center.

That development would be known as "Courtside."

Smith said you can't have the Wigwam without having basketball games in the facility.

"We have constant interest from minor basketball agencies and teams in calling this their home court," he said. "We're working with them and making sure when it opens it's done right."

Smith said the Wigwam building remains in good physical condition after the new roof was installed that stopped leaks.

"It's a fun project," he said. "I can't wait to see it all come together."

The historic Wigwam has been closed since 2012, and several times its future was unknown.

There was a group of investors interested in obtaining the building in 2014, but the deal fell through when the financing could not be arranged.

With the ACS board poised to demolish the gym and adjacent classrooms, a last-minute agreement was negotiated involving the school system, the Anderson Economic Development Department and BWI Properties of Indianapolis.

Those negotiations resulted in Wigwam Holdings obtaining ownership of the building, along with the surrounding athletic fields and parking lots.

ACS provided $630,000 in an escrow account for repairs.

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