Historic Indiana Furniture Building to Be Transformed into Workforce Housing in Jasper

A major redevelopment project is set to bring new life to the historic Indiana Furniture building in Jasper, Indiana. Flaherty & Collins Properties has joined forces with Krempp Construction to convert the 119-year-old building into much-needed workforce housing. The project is expected to result in approximately 147 one and two-bedroom units, offering a fresh range of housing options for the community.

With the majority of project financing coming from tax credits, the total cost of the redevelopment is estimated to be around $40 million. The collaboration between Flaherty & Collins Properties and Krempp Construction represents a significant investment in the future of Jasper, and it is expected to have a lasting impact on the local housing market.

“Flaherty & Collins is thrilled to be a part of the Jasper community and eager to work closely with the city on this transformative project,” stated Dani Miller, the Developer leading the initiative. The new housing units will not only provide comfortable living spaces for residents but will also contribute to the revitalization of the area.

Located at the corner of 13th and Mill Streets, the Indiana Furniture building holds historical significance for Jasper. Its transformation into workforce housing marks an important milestone in the city’s ongoing efforts to adapt and grow. By repurposing and preserving such cherished landmarks, communities can strike a balance between honoring their past and embracing the future.

This ambitious redevelopment project is a testament to the commitment of Flaherty & Collins Properties and Krempp Construction to create a sustainable and thriving community in Jasper. As the project progresses, residents and visitors alike will witness the transformation of this iconic building into a vibrant hub of residential activity.

With Indiana Furniture having relocated to a new site in 2021, the historic building’s rejuvenation is set to inject new vitality into the heart of Jasper. It represents a remarkable opportunity for the city to meet the growing demand for housing while preserving its rich architectural heritage. The development will not only offer new homes but also contribute to the economic prosperity and overall well-being of the community.

FAQ Section:

Q: What is the purpose of the major redevelopment project in Jasper, Indiana?
A: The project aims to convert the historic Indiana Furniture building into workforce housing, providing much-needed housing options for the community.

Q: How many housing units are expected to be created?
A: Approximately 147 one and two-bedroom units will be developed as part of the project.

Q: What is the estimated cost of the redevelopment?
A: The total cost of the project is estimated to be around $40 million.

Q: Who is involved in the project?
A: Flaherty & Collins Properties and Krempp Construction are collaborating on the redevelopment.

Q: Where is the Indiana Furniture building located?
A: The building is located at the corner of 13th and Mill Streets in Jasper, Indiana.

Key Terms:

– Workforce housing: Housing that is targeted towards individuals or families with moderate to low incomes, typically located in areas with employment opportunities.

– Tax credits: Financial incentives provided by the government to encourage investment in certain areas or industries, often used to fund affordable housing projects.

– Redevelopment: The process of revitalizing or repurposing an existing property or area to improve its conditions or use.

– Architectural heritage: The historic or cultural value of a building or structure due to its architectural significance.

Suggested Related Links:

Indiana Furniture: The official website of Indiana Furniture, which offers insights into their relocated site.

Flaherty & Collins Properties: The official website of Flaherty & Collins Properties, providing more information about their collaboration on the Jasper redevelopment project.

Krempp Construction: The official website of Krempp Construction, offering details about their involvement in the project.