SOUTH BEND, Ind – Three new developments are set to transform the area near Four Winds Field in the City of South Bend.
First, the Diamond View Apartments will offer 60 affordable housing apartment homes, catering to tenants with incomes at 80% or less of the average median income.
Ryan McMonagle, Chief Financial Officer at Real America, hopes that these projects will revitalize the downtown area.
“The residents that we’re targeting, some with the LIHTC, side we have community integration, 12 of the apartment homes will be set aside for residents with intellectual disabilities,” said McMonagle.
Real America is partnering with the Logan Center to offer community resources for the Diamond View Apartments.
Additionally, the area will feature two buildings known as the Stadium Flats, each comprising 45 apartment homes at market price.
“On the market rate side, we’re looking to get the family that is looking to move downtown and get involved in the city downtown,” said McMonagle.
Erik Glavich, Director of Growth and Opportunity for the city, says the administration is focused on bringing more affordable housing to the area.
“It’s really exciting to have a dense project like this and really provide needed housing for residents particularly in downtown,” said Glavich.
This project has been in the works since 2021.
The city says the project took a while to get underway because Real America wasn’t granted the tax credits for affordable housing until January 2022.
The project is expected to be completed by the end of next year.