JEFFERSONVILLE Expect a lot of progress in the next two months on New Hope Services affordable senior housing development at 835 Spring St., says the nonprofits president. <\/p>\n
The building, which used to be Jeffersonvilles M. Fine & Sons shirt factory before being turned into the Industrial Terrorplex haunted house, has been under construction since around October 2016, said James Bosley, New Hope Services CEO. <\/p>\n
Just two weeks ago, work on the development went vertical, meaning construction crews started adding onto the building instead of just rehabbing the existing structure. Around 50,000-square feet of the development will consist of the original structure, while 24,000-square feet of it will be new. <\/p>\n
Now, Bosley said, onlookers will notice swift progress. The project is set to finish construction in October with leases becoming available in November. <\/p>\n
New Hope closed with an investor and the bank on the approximately $10 million M. Fine project, called M. Fine on Spring, in September of 2016. <\/p>\n
M. Fine on Spring will target the over 100 seniors on New Hopes waiting list for affordable housing in Jeffersonville. New Hope serves 20 counties, and one of its main focuses is housing and community development. <\/p>\n
M. Fine on Spring will consist of 51 one- and two-bedroom apartments and contain an on-site fitness center, theater, restaurant, community rooms and outdoor roof terrace. <\/p>\n
New Hope is also adding 10 units to its Aberdeen Woods apartments for seniors. The fact that New Hopes waiting list will still be large after both projects are finished shows the need for senior housing in the area, Bosley said. <\/p>\n
Still, more seniors are invited to add themselves to the waiting list by calling New Hopes Willow Trace Apartments number at 812-282-6350. <\/p>\n
New Hope is also working on giving seniors living in M. Fine on Spring things to do. Theyll be able to access senior services at New Hopes downtown office, of course, but the nonprofit is also planning to buy the former Reeders Cleaners building across the street from M. Fine on Spring and turn it into a coffee shop, wine bar or similar development. <\/p>\n
The property needs to be decontaminated due to its former use as a cleaners and a gas station. Attorneys with New Hope and the propertys owner are working on getting their insurance companies to pay for the cleanup costs, and Bosley plans to buy the property after decontamination is finished. <\/p>\n
M. Fine on Spring and the Reeders Cleaners development should give downtown Jeffersonville a boost, too, Bosley thinks. <\/p>\n
Were cleaning up the whole block between 8th and 9th, he said. <\/p>\n
Nathan Pruitt, planning and zoning director with the City of Jeffersonville, said that a senior living facility is a perfect use for the old M. Fine building, which stood vacant for years before being turned into the Industrial Terrorplex. Even after that, it was only in use a month or so during the year. <\/p>\n
The M. Fine project is rehabilitating a unique building, he said, as well as extending the downtown area, which isnt as busy after Court Street. Finally, it's bringing more housing to an area that Pruitt believes needs it in an area where the other future housing projects target young people. <\/p>\n
New Hope is not receiving funding from the city for its project, but it is from three different sources. Its budget comes from $7.86 million in tax credits from the federal government, $1.5 million in historic tax credits. The final piece of funding comes from the HOME Investment Partnership Program from the Department of Housing and Urban Development. <\/p>\n
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New Hope senior living facility progress moves outward - Evening News and Tribune<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" JEFFERSONVILLE Expect a lot of progress in the next two months on New Hope Services affordable senior housing development at 835 Spring St., says the nonprofits president. The building, which used to be Jeffersonvilles M Continue reading