The City of Shelbyville is pleased to announce that the former Hendricks Elementary School will be renovated as a new development known as Hendricks Pointe Apartments.
This is a culmination of a nearly year-long process in which the developer, with the support of the City, applied for and received tax credits issued by the Indiana Housing and Community Development Authority.
The highlights of the grant award are as follows:
- $7.1 million investment to create 37 apartment homes
- Awarded $759,000 in annual tax credits by the Indiana Housing & Community Development Authority
- 1, 2, & 3 bedroom apartments
Construction schedule is anticipated to be as follows:
- Construction to begin summer 2012
- Opening summer 2013
And the amenities include full-sized washers and dryers, playground, computer lab, exercise room, on-site management, and more.
The City Administration believes this will be a benefit to the area and to the City as a whole.
Thanks go out to Real America Development LLC for their investment and confidence into the community.
– From the Office of Mayor Tom DeBaun