We Are Here For the Next Century…99-Year Ground Lease Agreement Approved!
Dec. 12 – SCIHO-Switchyard Apartments, LLC, a subsidiary of South Central Indiana Housing Opportunities Corporation, is now party to a 99-year ground lease with the Bloomington Parks and Recreation Department for 1901 S Rogers, the site of the Switchyard Apartments project.
SCIHO Awarded $500,000 Affordable Housing Program Grant
Investigating Community Housing Needs
SCIHO has completed a Community Housing Needs Assessment to document the City of Bloomington’s housing needs.
- Housing costs in Monroe County are the highest in Indiana, and demand for low-cost rentals far outstrips supply.
- In Monroe County in 2011-13, there were only 14 rental units affordable and available for every 100 extremely low-income renters–a decrease of 22 percent from 2000.
- Bloomington must build its local capacity to increase the production of affordable housing.
As a nonprofit affordable housing developer, SCIHO aims to have a steady pipeline of projects. In 2017, SCIHO is developing its first affordable housing project! This inaugural project, which is targeted for the City of Bloomington, will be new construction of a multifamily rental property.
2017-19 Strategic Plan
1. Affordable Housing Development and Pipeline Development
2. Capacity Building
3. Communications and Marketing
4. Finances and Fundraising
5. Community Outreach and Partnerships
6. Property and Asset Management