Tax credits awarded to turn old Princeton Middle School into housing
PRINCETON, Ind. (WFIE) - Lt. Gov. Suzanne Crouch announced the recipients of the Low Income Housing Tax Credit program for 2023.
It’s from the Indiana Housing and Community Development Authority, and used to incentivize private developers to fund the construction of affordable housing in Indiana.
More than $180 million in tax credits were awarded to 17 developments.
One of them is a $10.8 million housing development in Princeton.
The address is 410 E. State Street, which is the old Princeton Middle School.
The tax credit and development amount awarded totals about $1.7 million.
The development summary shows it’s a new construction multifamily building called Princetown Place.
It shows 44 units including 22 three-bedroom units, 16 two-bedroom units, and 6 one-bedroom units.
In 2017, there were plans for a $20 million project that would turn the building into 182 senior housing units.
The new plans are with a different developer.
We’ve reached out to city leaders to find out more.
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