Wolanin_20160617cr gateway apartments 9_72dpi_cropped700w

Jackson County Bank Uses FHLBI’s AHP Grant to Help Fund Gateway Apartments

jcb


On June 17, 2016, a new affordable housing project in Columbus, IN—Gateway  
Apartments—was formally opened with a ribbon-cutting ceremony. The $10 million project was funded through tax credits and grants from the Indiana Housing and Community Development Authority, as well as other sources, including FHLBI member Jackson County Bank.

 

ThriveAllianceLogoJCB partnered with Thrive Alliance, a non-profit organization that provides a wide 

range of social and human services to residents of south central Indiana, to secure a $500,000 grant from FHLBI's Affordable Housing Program to help Gateway get off the ground.

IMG_0496_cropped_USE2Dave Kromphardt, a Vice President at JCB, said the development was the result of many years of planning by Columbus officials and other involved parties. “A couple of years ago when I moved to town, there were shacks along the river where the homeless population lived,” Dave said. 

“But the City decided that was not good enough. We are happy to be a part of this project in the community where we’re located.”

At the ribbon cutting ceremony Megan Coler, AHP Senior Compliance Analyst, shared about FHLBI’s mission to help families afford housing and support economic growth in the Indiana and Michigan communities we serve.

"We are honored to partner with Jackson County Bank on their first AHP project," Megan said. "We also applaud Thrive Alliance and the other partners who joined together to build this project and continue to serve this community."

Celebrating 'next steps'

IMG_0475_Cropped_USEMark Lindenlaub, Executive Director of Thrive Alliance, said helping families take the next step to financial independence is worth celebrating. "We’re not just celebrating the construction of nine buildings of apartments.  We’re celebrating the continuation and creation of a legacy," Mark said. "The real legacy of this area will be the families who live here."

Brittanie Stott and her son, were the first residents to move into the Gateway Apartments community. They took part in the ribbon cutting. “We were homeless before Gateway,” Brittanie said. “When they told us we could move in, we were so happy and moved immediately.”

Since her family’s move, the complex has filled rapidly, indicating a high need in the area for affordable housing. Columbus Councilman Frank Jerome, District 3, hailed the presence of the complex. “The City is thrilled to see the completion of the first phase of this project,” Frank said. “This fills a huge hole in the housing market—and we need more of it.”

Find out more

Discover how your institution can access Affordable Housing Grants, and more community investment tools, by contacting FHLBI's Community Investment Department at 800-688-6697,through email, or visit us online.

Read more on ​the Gateway project in the Columbus Republic.

 (Ribbon cutting image courtesy of Mike Wolanin, Chief Photographer, and the Columbus Republic.)