INHP received a federal New Markets Tax Credit (NMTC) allocation for $5 million, which led us to develop 29 homes across three neighborhoods that year alone. Our approach was to secure the financial resources needed and invest it into organizations who had the vision, combined with the construction expertise, to carry out the plans they wanted to pursue. One project was Near East Area Renewal’s plans for an Educator’s Village near the intersection of Rural and 10th Streets. 

The success of the first NMTC award helped INHP:

1. Build organizational capacity to add affordable housing development as a new business line. 
2. Attract new builders to the affordable housing system in Indianapolis. 
3. Activate targeted neighborhood strategies. 
4. Support more City initiatives using federal development capital. 

As INHP’s development activity grew, so did its efforts in Equitable Transit Oriented Development and Community Lending. After being awarded a second NMTC allocation of $9 million, INHP sought development locations close to areas connected to these strategies. 

INHP purchased several lots through the Indianapolis land bank (Renew Indianapolis). That included the 50th INHP-developed home, a wonderful addition on a once-vacant lot in the Riverside neighborhood. 

Through INHP’s successful efforts in obtaining competitive funding sources, building staff capacity, and being committed community partners, we became one of the largest affordable single-family housing developers in Indianapolis. 

Invitations for new partnerships emerged, including ones with Southeast Neighborhood Development (SEND) and United Northeast Community Development Corporation (UNEC). This includes our 100th home on N. Audubon Road.