Affordable senior housing coming soon?
By Karen Kennedy
There’s certainly no shortage of housing available in Carmel. And even if there were, the current building boom would remedy that in no time.
But there’s a big difference between available housing and affordable housing.
Innovative and progressive companies continue to bring high-paying jobs to Carmel and with those high-paying jobs, a demand for houses on the upper end of the price spectrum.
Yet Carmel is comprised of much more than executives and highly-paid administrators. Elderly citizens who are living on fixed incomes but not ready for assisted living have limited affordable choices in Carmel.
One Indianapolis-based company, Herman & Kittle Properties, is seeking to remedy that. They have submitted plans for an apartment community called Meridian Flats, at 12901 Old Meridian St., on the property which was home to the venerable, but long-shuttered, Glass Chimney restaurant
Plans call for 21 one-bedroom units and 19 two-bedroom units for a total of 40 apartments. One-bedroom rents will range from $251-$515 per month, and two-bedroom rents will range from $308-$633 per month (before utilities.) Five of the units will be fully accessible per Americans with Disabilities Act requirements.
Potential residents must be 55 or older and must meet the annual income criteria of $13,680-$35,160.
“We have applied for financing through the Indiana Housing and Humanity Development Authority,” said Erika Scott, development director at Herman & Kittles Properties. “If the financing is approved, we will move forward with due diligence and enter into the plan commission process. If all goes according to plan, we would hope to close in about six months and construction will take approximately 12 months.”
Mayor Jim Brainard agrees there is a need for affordable housing for the elderly.
“There is a need here for more affordable housing, particularly for our older citizens. I believe that need will be filled with several pending projects,” Brainard said.