Edge fund recently closed on the second of three multifamily housing properties slated for financing to create affordable and permanent supportive housing to help end homelessness in Indianapolis. The Edge Fund partnered with IHCDA to develop loan products that help preserve and create affordable housing across the city.
Edge Fund lent to a development commonly referred to as Triple P Apartments (Partners Preservation Project, solely managed by Partners in Housing). The Triple P Apartments consists of two existing apartment buildings located at 4317 E. Washington Street and 245 W. 38th Street.
The Triple P Apartments will preserve 134 affordable housing units and create 34 permanent supportive housing units. Edge Fund’s first multi-family development loan will preserve 72 affordable housing units and create 18 permanent supportive housing units.
Addressing the challenges of affordable housing and homelessness requires focused, coordinated, and tireless efforts from a broad range of partners. Renew Indianapolis is proud to be part of such a dedicated group committed to helping the most vulnerable members of our community.
We are pleased to be able to help preserve affordable housing and help create new permanent supportive housing through flexible lending products offered by the Edge Fund.