By City of Muncie Communications—
Muncie, IN- The City of Muncie, Community Development, IHCDA, and anticipated tax abatements from City Council will pave a way for new developments in Muncie. The city was able to take 21 properties from the Muncie Redevelopment Commission that were demolished and will put the properties back on the tax role through one of the secured projects.
“Project City View Homes” will provide the city with a total of 48 new units. 21 of those units will be single family homes and 27 will be town houses all providing two to four bedrooms. The projected investment of the project is $10,948,685. These units will be built in Industry, South Central, Old West, and Blaine neighborhoods. The new properties will also provide opportunity for homeownership.
“Project Riverbend Flats” will be located at the intersection of Burlington and Memorial. This site is where the old Marsh and Family Dollar were once established. The building will be demolished and the new 60-unit apartment complex providing two and three bedrooms will take its place. Riverbend Flats is projected to cost $11,279,426.
“I am pleased to see both of these projects receive a favorable response. It will be a positive impact in all five neighborhoods in housing, infrastructure, economics, and beautification,” said Mayor Dan Ridenour.
There will be a considerable delay on both projects before construction can begin. Now that the developers havethe funding in place, they will begin the final design work.
Incorporated in 1865, the City of Muncie is a welcoming and ambitions community. The municipality has a population of approximately 70,085 residents, and is located in the heart of East-Central Indiana. Muncieprides itself as being a central hub for commerce, recreation, and development. Home to quality education, technology driven development, and a friendly populous. Muncie is proud to be “The Capital of East-Central Indiana.”