Inside INdiana Business - Indianapolis-based Radiant Communities Development Corp. on Friday announced plans for a $14 million housing project in Sullivan. The developer said the project will include 40 lease-to-purchase townhomes and single-family homes.
Radiant said the project will span 14 lots in close proximity to downtown Sullivan and will convert blighted properties that were razed as part of the federal blight elimination program and the city’s “They Gotta Go Program.”
The project is being funded with $12 million in tax credits from the Indiana Housing and Community Development Authority, as well as $800,000 from the state’s Regional Economic Acceleration and Development Initiative.
“The magic continues here in the city of Sullivan,” Mayor Clint Lamb said in a news release. “The fruits of our labor and the tireless efforts of our team to rid the community of eyesores have come full circle.”
The city said the project will position residents closer to its growing downtown, quality of life, and outdoor recreation activities.
A timeline for groundbreaking and construction is being finalized, according to the city.
Sullivan is located about 30 minutes south of Terre Haute and about 95 miles southwest of Indianapolis.
The city is benefiting from a total of $4 million in READI funding, which is supporting the development of a new central plaza, a hotel next to the city’s new civic center, and a new city pool.
Earlier this week, Sullivan marked the completion of its new city hall building as part of the central plaza project.
