VINCENNES, IND. (WTHI) - A Wabash Valley community with a tight apartment market welcomes the opening of a multi-million dollar "affordable housing" complex.
PACE Community Action Agency unveiled its Ivy Lane Apartments in Vincennes.
The project opens up first rate housing for working Hoosiers.
Everyone was smiling as officials cut the ribbon on the new Ivy Lane Apartments in Vincennes Tuesday.
For some it may have been smiles of relief to see this project now in operation.
"It actually took us a couple of years to find the right location and once we found this location it came together really smoothly," said Carla Naum with Milestone Ventures that helped put together the funding for the project.
The 31 unit complex was built right with energy saving systems and Energy Star appliances.
It also has safety features like a sprinkler system and because it was built with affordable housing tax credits people who work for a living can afford it.
"It provides a real need to the community for those income levels that otherwise wouldn't have housing this nice," said Mark Valenti with Valenti Real Estate Ventures which is managing the property.
The $4-million affordable housing project is the first carried out by the PACE Community Action Agency in Vincennes, and officials say it's a continuation of their normal mission.
"Our mission is to improve the community so that's part of our mission to encourage self-reliance and improve the community so that's what we're doing," said PACE C.E.O. Bertha Proctor.
Already 21 of the units are rented and the residents say PACE hit the mark.
"It's a good thing they're doing for all the community around here, for places, I mean there's not many places to rent," said Nicole Baker who moved in a couple of weeks ago.
There may not be many apartments available for long.
Officials say they expect all of the units to to occupied by the end of the month.
PACE officials say they do have room to expand the complex, but they want to see how well Ivy Lane does before trying to make it larger.
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