HOMEOWNERSHIP

Equitable Housing

Age-old patterns of racism continue to inhibit minority neighbors from owning their own homes in our community. NEAR is working with mortgage lenders, the Fair Housing Center of Central Indiana, and the Indianapolis Neighborhood Housing Partnership to create more accessible and clear paths toward homeownership for all. This includes marketing strategies to increase awareness of available homebuyer resources to minority households.

Available Properties/Projects in Development

Projects listed here are funded with assistance from the City of Indianapolis through the Department of Housing and Urban Development as well as generous support from the Indianapolis Neighborhood Housing Partnership. Potential buyers MUST meet program requirements including income restrictions and certain monthly payment guidelines in order to qualify. Income is limited to 80% of the area median income based on household size. The current income limits are listed below.

Current Limits (effective April 1, 2024) 80% AMI Limits Based on Household Size (HH):

HH of 1 - $57,650, HH of 2 - $65,850

HH of 3 - $74,100, HH of 4 - $82,300

HH of 5 - $88,900, HH of 6 - $95,500

256 N Randolph Street (expected completion 2025) 1,175 s.f., New Construction 3bd, 2bth townhome 

1829 Marlowe Avenue (expected completion 2025) 1,175 s.f., New construction 3bd, 2bth townhome 
1831 Marlowe Avenue (expected completion 2025) 1,175 s.f., New Construction 3bd, 2bth townhome

Community Land Trust

NEAR has been a supporter of the community-wide efforts to establish the creation of a local Community Land Trust. This independent nonprofit will have the capacity to permanently preserve developed property and houses as affordable for up to 99 years. As the new Indianapolis Community Land Trust launched in late 2024 grows further, NEAR will explore opportunities for collaboration to ensure opportunities for long term affordable housing are available on the Near Eastide.