Severe Thunderstorm Watch in effect for much of central Indiana until 10 p.m.

How Indianapolis artists might qualify to buy rehabbed homes for only $49,000

(Photo By Michelle Pemberton/IndyStar)

INDIANAPOLIS, Ind. — People often talk about a cycle when it comes to urban revitalization. Artists come in to low-cost areas with vacant or abandoned buildings, set up studios and homes, and bring a cool factor that attracts more development. Then real-estate prices rise, and the artists who no longer can afford to live there pick up and move.

Breaking that cycle is what creative organization Big Car Collaborative had in mind with the seeds of its Artist and Public Life Residency five years ago in Garfield Park. Now, five Cruft Street homes are ready, at lower-than-market prices, for artists to own for the long term.

Thanks to a partnership among a pair of affordable housing support organizations —Riley Area Development Corp. and the Indianapolis Neighborhood Housing Partnership — as well as Big Car, artists who qualify can buy the homes for $49,000 to $72,000.

Finish reading this article with our news gathering partners at The Indianapolis Star.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Notice: you are using an outdated browser. Microsoft does not recommend using IE as your default browser. Some features on this website, like video and images, might not work properly. For the best experience, please upgrade your browser.