On October 1, 2019, Mayor John Hamilton and Centerstone Indiana Chief Executive Officer Suzanne Koesel gathered with other community and business leaders to break ground for the new Kinser Flats apartment complex to be constructed. The Kinser Flats building design includes space for onsite recovery-focused supportive services for tenants to be provided by Centerstone and other community partners. Kinser Flats will operate as a low-barrier facility guided by the Housing First, harm-reduction approach, which prioritizes housing as a basic foundation for life improvement.
Centerstone is the developer and owner of this 50-unit complex that will provide 38 one-bedroom and 12 two-bedroom units of affordable permanent housing for families and individuals experiencing homelessness and addiction disorder, or co-occurring addiction and mental health disorders. Funding for affordable housing development has been secured through city, state, and federal sources, matched with private financing, including the first investment facilitated through CDFI-Friendly Bloomington (CFB). A new non-profit, CFB works to connect local investment opportunities with community development finance institutions (CDFIs), private financing entities that specialize in markets and populations that often cannot qualify for traditional financing.
The City of Bloomington Housing and Neighborhood Development Department (HAND) provided $175,000 in federal HOME funds and the Bloomington Housing Authority (BHA) is making project-based Section 8 vouchers available. The City’s investment in Kinser Flats represents the sixteenth affordable housing project it has partnered to develop since 2016, adding 826 units to the city’s inventory.
Old National Bank has provided the construction loan and permanent financing, and sponsored the $500,000 Affordable Housing Program award from the Federal Home Loan Bank Indianapolis. The Indiana Housing & Community Development Authority awarded the project $1,100,786 in Low Income Housing Tax Credits (LIHTC), $500,000 from its Development Fund, and provided additional Section 8 vouchers. Additional partners in the project include Cinnaire, Keystone Construction, ARCHitecture Trio Inc., Hayes Gibson Property Services, and Milner & Caringella Inc. Its participation in the project facilitated by CFB, Michigan-based Cinnaire is a CDFI that specializes in affordable housing tax credit projects.
Centerstone of America is a non-profit health care organization dedicated to delivering care that changes people’s lives. Centerstone provides mental health and addiction treatment, education and support to communities in Florida, Illinois, Indiana, Kentucky, and Tennessee and additionally offers individuals with intellectual and developmental disabilities life skills development, employment, and housing services. Nationally, Centerstone has specialized programs for service members, veterans, and their loved ones, and develop employee assistance programs for businesses of all sizes.
This was reported by WBIW on September 26, 2019.