Above is an InkFreeNews file photo of what is widely referred to as the Arnolt property east of Argonne Road in Warsaw.

By Dan Spalding
InkFreeNews

WARSAW – City officials got the word they’ve been waiting to hear concerning a new affordable housing project that would eventually replace the old Arnolt building on Argonne Road in Warsaw.

On Thursday, Nov. 18, Lt. Gov. Suzanne Crouch and the Indiana Housing and Community Development Authority announced that Warsaw was one of 17 recipients in the state’s Low-Income Housing Tax Credit (LIHTC) program that incentivizes developers to construct affordable housing.

The Warsaw project will receive up to $1.1 million in tax credits that can assist the developer.

The Argonne Road development by Real America, Indianapolis, would include 60 apartments with as many as three bedrooms.

The housing project will be known as 2525, which is part of the Arnolt address.

Real America has constructed housing projects across much of the state.

The announcement represents the final big hurdle, said Jeremy Skinner, the community and economic development director for the city of Warsaw.

He said that the city and Real America are now locked in and moving forward with the plan.

Rent would be based on income, Skinner said.

The property still needs to undergo an environmental cleanup. After that, the city would prepare to demolish existing buildings on the site.

In September, the city learned it could access $500,000 from a revolving loan via the Indiana Brownfield Program that will be used for environmental cleanup. Skinner said he thinks that money will be close to covering those costs.

Skinner said the city will likely turn to several funds to cover demolition costs.

He said the property would be ready for construction to begin in 2022.

Warsaw’s million-dollar share of the award is part of more than $170 million in tax credits announced on Thursday that will be directed toward 17 proposals representing the future construction of 895 affordable housing units.

“These awards are a major investment to our state’s infrastructure,” Crouch said in a prepared statement. “The developments will help to meet the need to house our workforce and will bring hundreds of affordable housing units to communities across Indiana.”