GREENFIELD — Developers proposing two apartment communities totaling 120 units in Greenfield did not get the funding they applied for from the state.
City officials approved Wallick Communities’ and Greenfield Apartments L.P.’s proposals in June 2019.
Wallick Communities, out of New Albany, Ohio, sought to bring three buildings with a total of 24 two-bedroom and 24 three-bedroom units on almost 4 acres along West McClarnon Drive’s south side between State Street and Fields Boulevard.
Greenfield Apartments L.P., made up of Cleveland-based Jonesboro Investments Corp. and Thrive Alliance out of Columbus, Indiana, wanted to develop a six-building community with 36 two-bedroom and 36 three-bedroom units on about 12 acres between North Blue Road and Date Street north of Reflections Drive.
Both communities planned to rent to households making between 30 and 80 percent of area median income. Greenfield’s median household income was $53,061 in 2018, according to the most recent data available from the U.S. Census Bureau.
Developers applied to the Indiana Housing and Community Development Authority for tax credits to help fund the projects. While both scored competitively, neither were among the awards the IHCDA announced in November 2019. Eighteen projects were awarded and 25 were denied.
Jenna Wertman, senior planner for the city of Greenfield, said neither proposal was part of the city’s participation in the state’s Stellar Communities Program. Greenfield, Fortville and Hancock County continue to work on projects through the program, which provides grant and other funding opportunities for a variety of community projects.
Wertman said the tax credit program is very competitive and the IHCDA takes a variety of factors into account when scoring applicants’ projects, like access to amenities, food and transit.
She said the developers can always submit their proposals again.
“A lot of times it might take a few tries,” Wertman said.
Wallick Communities did not return a request for comment. Mark Lindenlaub, executive director of Thrive Alliance, said the firm does not currently have plans to reapply to the IHCDA for funding for its proposed project in Greenfield.
“We’re evaluating our options, but at this point we don’t have a viable path forward,” Lindenlaub said.
