American Rescue Plan’s READI Program Delivers New Affordable Housing Opportunities for Hoosiers in Princeton


Princeton Daily Clarion: READI funding supports $21M housing complex

Fox59: “The Regional Economic Acceleration and Development Initiative (READI) is funded by the federal government’s American Rescue Plan.”

INDIANAPOLIS – The Indiana Democratic Party, the organization that advocates for the future of Indiana and its families, today celebrated the brighter future the American Rescue Plan is STILL creating for Gibson County. Thanks to the state’s READI program – which is fully-funded by the Rescue Plan – the City of Princeton will build about 144 affordable housing units in the community. This will provide a new home for Hoosiers who move to the area for a new job – like opportunities with a local Toyota plant. This investment – along with the Rescue Plan’s initial relief for Gibson County and Princeton – continues to deliver a brighter future for Hoosier families – and it was Indiana Democrats who got it done. 

In contrast, the Indiana Republican Party – including U.S. Senator Todd Young – said “NO” to this brighter future. Indiana GOP Chairman Kyle Hupfer called the Republicans’ opposition a “great campaign to run on”. The Indiana GOP’s saying “NO” to the kitchen-table issues is another reminder they have no plan for Indiana’s future – just abiding by an extremist agenda. 

Here’s a look at how the American Rescue Plan continues to deliver for Hoosiers in Gibson County: 

Princeton Daily Clarion: READI funding supports $21M housing complex

Ceremonial shovels turned dirt Wednesday on South Second Avenue for the $21 million development of 144-unit apartment complex that local officials believe will bring new families to Princeton.

Gov. Eric Holcomb joined city officials to celebrate The District, envisioned by developer Wayne Kinney. The project is partially funded by $2.5 million from Indiana’s Regional Economic Acceleration and Development Initiative, and abatement incentives from the City of Princeton.

The apartment development, planned for completion in June 2024, is designed to provide housing for major employers like Toyota Indiana, offering a variety of units, several in-unit covered balconies, a club house featuring an exercise room, private mail delivery room, a pool, walking paths, parking garage rental space and storage rental space. […]

“The District will provide a first of its kind development in Princeton,” Kinney said. “The plan is to transform 2nd Avenue into a destination for those wanting an up-and-coming environment to live and raise a family.

“We almost put this project on the shelf because a private developer today cannot afford to do a project like this,” Kinney added. “It was practically dead on arrival once we got the price tag. We thought it would be $17-18 million and it is going to exceed $21 million when we are done with it. If it would not be for the READI funds, and if the city had not thrown in some tax abatement, we would not be standing here today.”

Mayor Greg Wright, who has worked with the city council to attract housing development in and near Princeton, noted earlier in the week that the city population peaked in 1980 at around 9,000, then peaked again in 2010 at about 8,600, but lack of housing opportunities have led to stagnation in growth.

Wright said the 2nd Avenue housing developments, which include The District and also SPM Development’s 130-lot town home subdivision, could bring a total 274 housing units. Wright said that with an average family size of three people, the new housing developments in that area could increase the city’s population by 10%. […]


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