HUNTINGBURG, Ind. (WFIE) - Dozens of brand new low-income apartment units are now available in Dubois County.
Huntingburg Mayor Dennis Spinner says the ribbon cutting for Wagon Works Apartments marked a special investment for the city.
”The mix of 28 studio and 24 one bedroom apartments is exactly the type of apartment that was identified by Dubois Strong in their housing study as to what was needed to meet the needs of our local employers,” Mayor Spinner said. “And it represents an investment of over $8 million in the city of Huntingburg.”
Starting at just $350 per month, officials say this project is going to provide Huntingburg residents with the opportunity to have affordable housing and enjoy where they live.
”This project means bringing affordable units, which are really needed in Huntingburg,” Mike Mance, a representative at Paragus Construction Company said. “Before we even applied for the tax credits, we had extensive market surveys, which showed a very strong need for housing during this time.”
The project cost was about $9 million, but the tax credit program allowed the city to bring down the cost of the units.
”This was a tax credit program, so we received the tax credits,” Mance said. “We were able to sell the tax credits and generate enough money to put the equity into the project so the rent could be lowered and it could be more affordable.”
Officials say the COVID-19 pandemic delayed the projected opening date by a few days, but they’re looking to move people into the apartment complex within a few weeks.
”This will be a place where people will be just as proud of as they were of the Wagon Works factories,” Mayor Spinner said.