In mid-September, over one hundred community leaders and residents gathered in Delphi, Indiana to break ground on a historic $12.5 million housing development. The Interurban Apartments will be a 68-unit multi-family development with an estimated economic impact of $15.5 million for Carroll County, and the state of Indiana. View ceremony
“This is the largest residential development investment in the history of Carroll County,” said Jake Adams of the Carroll County EDC. This project is made possible by Tax Increment Financing, Indiana READI funds, redevelopment tax credits, and a partnership with the city of Delphi. A report released in January 2023, commissioned by the Indiana Association of Realtors, addressed the widening gap between housing demand and the availability of housing options across the state. Read more
The READI funds "promote strategic investments that will make Indiana a magnet for talent and economic growth", according to the IAR report. Delphi Mayor Anita Werling attended the groundbreaking and said, “Iron Men Properties is building a connection to Delphi's heritage and a connection to the amenities that make Delphi a destination.” The Interurban Apartments, named after the historic railroad, that ran from Delphi to Ft. Wayne in the late 19th century, is the first of its kind Carroll County.
Joe Mayfield of the Delphi Redevelopment Corporation commented, “The Redevelopment Commission is part of Iron Men's Capital stack...we're going to provide them money through our bonding authority to help them complete the project. We're so happy to be a part of what we have been dreaming of on a day like this for twelve years.” Iron Men Properties has developed several notable housing communities in the Hoosier state including Anvil 38, 451 Lebanon, Faith West and Nickel Plate Flats, among others.
Mayor Tony Roswarski of Lafayette said, “I couldn't be prouder to be here today to congratulate Delphi, Carroll County, and Iron Men Properties. We work with them in Lafayette also on this tremendous accomplishment of all of you working together. To bring this very special project to the Delphi and the Carroll County community.”
The Interurban Apartments will be a major addition to the Delphi community by providing much needed housing and jobs in the area. The development is expected to be completed in the fall of 2024 and will be a great asset to the city of Delphi. Requests for the leasing waitlist are now being accepted here.