More affordable housing is coming to Evansville’s Jacobsville neighborhood. A public-private partnership will build almost thirty-single family homes in the area in the next few years.
The Vectren Foundation is making an initial donation of $1 million to the project. The organization will also give $4.5 million to multi-family projects.
The city of Evansville will provide the lots through its land bank, which was designed to eliminate blight.
Brad Ellsworth, president of Vectern Energy Delivery of Indiana-South, said many low-income people live in older homes with costly utility bills. These new homes can help ease that pressure.
"It really makes the utilities for our clients much more affordable," Ellsworth said. "And when we’re building new homes, they have gas meters and electrical meters in the back so it’s a win for us as a company.”
Habitat for Humanity will develop most of the homes. That means potential buyers would need to make between 35 and 80 percent of median area income to qualify.
But HOPE of Evansville will build a handful of the houses. This helps provide affordable housing to some people who make a little too much money for a traditional Habitat home, up to 120 percent of median area income.