FORT WAYNE, Ind. Ind. (ADAMS) – Mayor Sharon Tucker and the City of Fort Wayne’s Community Development Division announced a new initiative yesterday – aimed at expanding housing opportunities.
‘A Lot to Love’ is a new housing initiative “aimed at revitalizing neighborhoods by transforming vacant lots into new homes.” The first phase offers discounted City-owned lots and a developer incentive pilot program to encourage infill housing development, making new construction more accessible to both developers and homebuyers.
The City released the following:
“Housing is a top priority for me and my administration, and we’re continuing proactive efforts to help ensure homeownership can become a reality for individuals and families in our community,” said Mayor Tucker. “This new initiative has the potential to be a game changer. Addressing infill development, redeveloping vacant lots, and partnering with more developers and contractors sends a strong message that we value people and want to provide opportunities for success.”
Phase One of the A Lot to Love Initiative seeks to address financial barriers that hinder infill housing development, including high development costs, appraisal gaps, and challenges with construction lending.
Applications for the A Lot to Love developer incentive pilot program opened today.
The eligibility requirements are as follows:
Developer Eligibility:
Open to small-scale developers, including individuals, small businesses, and non-profits.
Preference will be given to developers with a track record of community involvement, construction or real estate experience, or participation in the SEED Build Program.
Project Eligibility:
Projects must involve small-scale residential infill development, such as construction of new single-family homes, duplexes, or small multi-family buildings.
Properties must be located within designated infill neighborhoods.
All projects must meet local zoning, building codes, and planning requirements.
The Developer Incentive Program is sponsored by the Fort Wayne New Markets Revitalization Fund and includes the opportunity to apply for incentive options such as Development Subsidies, Construction Lending Assistance, and Appraisal Gap Financing. Developer selection for individual development sites and approval of funding assistance will be made on a case-by-case basis.
Discounted City-owned lots will be available to approved developers at reduced prices to support infill housing development. The City has conducted pre-development due diligence on select lots, including geophysical investigations and securing pre-approved variances to help minimize development barriers.
For more details or to apply, CLICK HERE
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