This year, FHLBank Indianapolis has awarded Affordable Housing Program grants to 43 housing projects, facilitating continued development of housing units that will be classified as affordable for low- to moderate-income households.
Since 1990, FHLBank Indianapolis has offered AHP grants to help fill funding gaps for the acquisition, construction or rehabilitation of properties that provide housing affordable to individuals and households at the very low-, low-, and moderate-income levels. The Affordable Housing Program consists of one annual competitive round in which project sponsors, including non-profit organizations and developers, partner with an FHLBank Indianapolis member institution to apply for grants of up to $1 million to support the cost of development.
"FHLBank Indianapolis is proud to offer reliable sources of funding via our Affordable Housing and other community programs through meaningful partnerships with member financial institutions and community stakeholders," said President and CEO Brendan McGrath. "In order to help navigate challenges facing the housing industry, in 2025 our Affordable Housing Program will help fund the creation or rehabilitation of an additional 1,578 units of affordable housing."
Notable 2025 highlights:
More than $34.1 million awarded
43 projects funded
3 projects supporting homeownership
Developing a total of 1,578 units of affordable housing
2025 Affordable Housing Program Award Recipients:Indiana Projects
Project Name
Location
Member Financial Institution
Project Sponsor
Award Amount
21Flats
Indianapolis
Centier Bank
Firefly Children and Family Alliance
$
500,000
Artesian Place
Martinsville
Merchants Bank of Indiana
T&H Management Properties, LLC
$
750,000
Bluffton Senior Apartments
Bluffton
Merchants Bank of Indiana
Affordable Housing Corporation of Marion, IN
$
690,000
BSV II
Bluffton
Old National Bank
Keller Development, Inc.
$
600,000
Center City
Lafayette
1st Source Bank
Habitat for Humanity of Lafayette
$
600,000
Charlotte Cove
Fort Wayne
Community State Bank
Keller Development, Inc.
$
1,000,000
Daffodil Hill
Marengo
First Savings Bank
Blue River Services
$
230,000
Deerpark/111 Lakeview Dr. Apartments
Goshen
Lake City Bank
LaCasa, Inc.
$
221,005
Emergency Shelter Facility
Goshen
1st Source Bank
Bashor Children's Home
$
1,000,000
Golden Villa Rental Rehab Project
Batesville
The Napoleon State Bank
Golden Villa, Inc.
$
1,000,000
Ivy Flats
La Porte
Horizon Bank
Housing Opportunities, Inc.
$
1,000,000
Kokomo Rescue Mission Renovation
Kokomo
First Farmers Bank & Trust Co.
Kokomo Rescue Mission, Inc.
$
1,000,000
LaSalle Park Homes
