State awards help for more affordable housing in South Bend
South Bend is celebrating another win in the competitive sport of low-income housing tax credits.
Advantix, an Evansville-based developer, has been awarded the credits to build 50 new units on 37 vacant city-owned lots scattered across the northwest and west sides of the city.
Mayor James Mueller made the announcement late Thursday, saying he was “thrilled” that the project was one of 17 chosen by the state to receive the annual credits.
Over the past decade or so, developers had seldom won the credits for South Bend projects. But this award comes after three projects also were awarded last year. The four projects combined will create over 210 new income-based rental units.
Those projects are also receiving city help. One of them will come before the city’s redevelopment commission Monday. The commission will consider an agreement with an investment group fronted by former Notre Dame women’s basketball star Devereaux Peters.
They plan to build The Monreaux, a 60-unit complex on the former Fat Daddy’s site in the 500 block of South Michigan Street.
About three-fourths of the apartments will be reserved for low- to moderate-income tenants. The city is lending Peters’ group $2.3 million toward the project’s projected $16 million cost.