BLOOMINGTON – Bloomington Mayor John Hamilton and RealAmerica invite community members to attend a groundbreaking for Retreat @ the Switchyard on Thursday, June 9th from noon until 1:00 p.m. at 1730 South Walnut Street in Bloomington. Attendees are encouraged to park in Switchyard Park’s parking lot off of Walnut Street.
Located next to Switchyard Park, Retreat @ the Switchyard will provide a mix of supportive and affordable housing as well as market-rate units in a new apartment building at 1730 South Walnut Street.
The new mixed-income and mixed-use rental project will include at least 48 units dedicated to residents earning 30 to 80 percent of Area Median Income (AMI), 10 of which will be reserved for individuals with intellectual and developmental disabilities, supported by Stone Belt, a local nonprofit organization.
Each apartment will be furnished with modern amenities, free Wi-Fi, home office space, and a patio or balcony; common areas will include office space and a conference room. Located at the eastern entrance to Switchyard Park, Retreat @ the Switchyard will offer easy access to the park, B-Line Trail, Bloomington Transit routes, Bloomington High School South, and shopping.
The ceremony will include remarks by Bloomington Mayor John Hamilton, Ronda Shrewsbury, President and Owner of RealAmerica, and other partners including local service provider, Stone Belt.
BACKGROUND
The City’s Redevelopment Commission (RDC) purchased the 1.5-acre site at Switchyard Park’s eastern entrance in 2017 to help steer development consistent with the community’s long-term goals. RealAmerica was selected from among 10 housing developers that responded to a Request for Information (RFI) issued in December 2019. The City offered the city-owned land next to Switchyard Park, valued at nearly $1 million, to RealAmerica for $1 to develop as permanently affordable housing.
The developer partnered with Stone Belt in its application for federal Low Income Housing Tax Credit (LIHTC) funds–one of nineteen awarded among the 51 Indiana Housing and Community Development Authority (IHCDA) received this year–and will continue to work with the agency (Stone Belt) to develop onsite service facilities for persons with developmental disabilities.
The Bloomington Housing Authority (BHA) will provide project-based vouchers to increase access for low-income households and residents with disabilities. Affordability requirements will be in place for at least 99 years. Sixteen apartments will be offered at market rates, and the plans include ground-floor commercial space of 3,000 square feet as well as parking.
ABOUT REALAMERICA
RealAmerica builds communities with quality, attainable housing and services to help residents thrive. A WBE-certified (Women’s Business Enterprise) real estate company, RealAmerica is built on more than a quarter-century of commitment to creative, long-term solutions in affordable, family, and senior housing. Their vertically integrated companies (development, design, construction, and management) carefully select sites and partner with local services to help residents find secure, supportive homes. They are committed to delivering quality, service, and value to help residents and communities thrive.
For more information about Retreat @ the Switchyard, visit HomeAtRetreatSwitchyard.com or call 812-330-1880.
