INDIANAPOLIS, October 17, 2017 (Newswire.com) – King Park Development Corporation’s Monon16, the area immediately surrounding the intersection of 16th Street and the Monon Trail, has been selected by the City of Indianapolis as the focus area for the inaugural Lift Indy program.
Lift Indy is a comprehensive community development program which promotes equitable neighborhood revitalization through affordable housing, economic development, and placemaking. Each year, the City of Indianapolis will make a multi-year commitment of HOME Investment Partnerships Program (HOME) and Community Development Block Grant (CDBG) funding to one strategic area with market potential to help meet neighborhood goals.
The Department of Metropolitan Development and a team of community partners considered nine proposals for the program, selecting Monon16 for its vast potential to grow and thrive. Around $4.5 million will be awarded to the Monon16 area in funding over the next three years, which will bolster ongoing work to build a resilient and inclusive neighborhood in the King Park service area.
“Lift Indy is a first of its kind investment strategy for Indianapolis and will concentrate a significant portion of HUD funds towards addressing the challenges and sustaining healthy communities,” said Indianapolis Mayor Joe Hogsett at the press announcement on Oct. 12. “Over the coming months and years, Lift Indy will drive market activity with a multi-year commitment of funding to support holistic quality of life enhancements in this neighborhood and many others. Monon16 was selected in a competitive and multi-round process because there is so much potential in this community.”
Just north of the heart of downtown Indianapolis, the Monon16 area has already been included in several neighborhood plans largely driven by the community, including the Northeast Corridor Quality of Life Plan (NEC QoL) and King Park’s 2015 – 2020 Strategic Plan. Building on the success of NEC QoL, more than 300 residents and 50 partner organizations participated in King Park’s Strategic Plan, which focuses on promoting the development of mixed-use, mixed-income neighborhoods — especially in the Monon16 area.
With $50 million in current projects in the area, Monon16 is thriving with amenities and development. The Lift Indy funding will be used to ensure opportunities are available across the income spectrum so the area remains diverse and equitable.
“The Harrison Center for the Arts is committed to inclusive development,” says Joanna Taft, Executive Coordinator of the Harrison Center for the Arts. “Lift Indy builds off of our success with PreEnactIndy in envisioning a neighborhood that is revitalized, but also inclusive. We will work alongside the City and partners in Monon16 to ensure that the neighborhood story is protected and preserved in the development process.”
The development team for Monon16, led by King Park, includes Greater Indy Habitat for Humanity, the Harrison Center for the Arts, David Weekley Homes of Indianapolis, the Re-Development Group, and TWG Development. All of the Monon16 partners are highly capable and experienced with deep connections to the area.
“Lift Indy is an opportunity for King Park and our partners to have a transformational impact on the Monon16 area,” says Steven Meyer, Executive Director of King Park. “The City’s investment into comprehensive community development will leave a legacy of inclusiveness in the Monon16 area that will continue well beyond the Lift Indy program.”
Thriving with amenities and development, Monon16 — the area immediately surrounding the intersection of 16th Street and the Monon Trail — is quickly becoming a resilient and inclusive neighborhood in Indianapolis. With $50 million in current projects in the area, the Monon16 development team and partners are dedicated to building a healthy neighborhood with access to quality housing, economic prosperity, and social and educational opportunities for all residents regardless of income. | monon16.org
About King Park Development Corporation
King Park Development Corporation is a nonprofit community development corporation (CDC) committed to improving housing, economic development, and quality of life in the King Park area. Founded in 1987 by concerned residents and neighborhood groups, King Park has helped drive the revitalization of neighborhoods in the northern downtown area of Indianapolis through various public and private partnerships. | kingpark.org