Lafayette, IN: The Lafayette community will be home to a new affordable housing development, the Jeffersonian. Homestead Resources, a local non-profit housing organization, is breaking ground on the new development next week. The Jeffersonian will include 50 units of affordable housing designated for seniors 55+ that will include one- and two-bedroom units. “We must provide housing that is attainable for all income levels, including seniors on restricted incomes. Providing this stability and allowing seniors to remain independent is something that everyone can rally behind,” said Andrea Kent, President and Founder, ALK Development.

The Jeffersonian is the second affordable housing community dedicated to seniors that Homestead Resources operates. The first one is the Historic Jeff Centre Senior Apartments that opened in 2004 located at 619 North 9th Street, Lafayette, In 47904. The Jeffersonian will begin construction this summer and is scheduled to open in 2025.

“We have enjoyed working in collaboration with our development partners, ALK Development and Stenz Construction and many other local partners to plan for the construction and development of the Jeffersonian. We look forward to breaking ground on the project August 15th at 1:30pm,” said Marie Morse, Homestead Resources Executive Director. This project has come to fruition based on the layering of the capital stack that includes construction financing, permanent financing and low-income housing tax credit equity from Old National Bank, an Affordable Housing Program grant from the Federal Home Loan Bank of Indianapolis, READI 1.0 grant from the Greater Lafayette Commerce, HOME funds from the Lafayette Housing Consortium, and a Development Fund Loan from the Indiana Housing and Community Development Authority.

Morse is proud of the work of the partnership with the Historic Jeff Neighborhood Association in the design and development of this project. “There is so much history on this site, as it was the former home of the Jeff High School gymnasium years ago,” said Morse. We want to showcase that history in the development and would welcome community donations of old Jeff sports memorabilia, to adorn a showcase that will be built in the new Jeffersonian.”

Resident inquiries should be directed to Kandi Gleason kgleason@stenzcorp.com and reference the Jeffersonian. Sports memorabilia from the former Historic Jeff High School era can be donated to Homestead Resources by contacting marketing@homestead-resources.org.

The public is welcome to attend the groundbreaking ceremony that will take place on August 15th, 2024 at 1:30pm with scheduled remarks promptly starting at 1:30. RSVP’s can be sent to marketing@homestead-resources.org.

About Homestead Resources: Homestead Resources is a nonprofit housing counseling agency and Community Development Financial Institution (CDFI) serving northwestern Indiana including Benton, Boone, Carroll, Clinton, Fountain, Montgomery, Putnam, Tippecanoe, Warren and White counties. For over 42 years, Homestead Resources has provided housing counseling services, financial literacy and education classes, direct assistance and affordable housing options. The organization also operates as an affordable housing developer in Lafayette and manages the Community Loan Center of West Central Indiana dedicated to providing small dollar consumer loans. The organization’s objective is to help individuals and families obtain affordable housing, either homeownership or rental, and educate families on maintaining safe, quality, stable affordable housing. For more information, visit homestead-resources.org