Construction is underway at Blackhawk Commons, a $7.2 million adaptive reuse development at the historic Adams Elementary School in Sheridan.
Leading affordable housing firm Woda Cooper Companies, Inc. (formerly The Woda Group, Inc.) is co-developing the property with nonprofit Housing Services Alliances. The Hamilton County Area Neighborhood Development Inc. (HAND) collaborated by helping secure County funding to restore the former gymnasium.
Development of Blackhawk Commons will transform the former school building into an attractive, contemporary affordable housing community. The architectural design for the new complex pays tribute to the school’s vintage features while creating energy efficient, modern living spaces. Blackhawk Commons will offer 32 one-, two- and three-bedroom apartments affordable for families who earn up to 60 percent of area median income. Targeted completion is December 2019.
Rendering provided
The new apartments will have open concept floorplans with quality finishes, high efficiency windows and HVAC systems, kitchens with EnergyStar appliances including dishwashers, washer/dryer hookups and plenty of storage. Four units will have ADA features for those with mobility impairments and one unit is designed for those with hearing/sight impairments.
The school’s gymnasium will be restored and used by the Sheridan Recreation League for youth sporting events. The existing wooden gym floor will be renovated and retained, and new stands will be added for spectators. Other community amenities include an on-site manager’s office and a community room for tenants to enjoy. The property will earn Enterprise Green certification, demonstrating its adherence to the latest green building materials and methods. It will be smoke free.
Financing for Blackhawk Commons was made possible through the allocation of Rental Housing Tax Credits from the Indiana Housing and Community Development Authority. InSite Capital invested $5.6 million in equity with additional permanent loans from IHCDA’s Development Fund and West Union Bank. Chemical Bank contributed a construction loan. Hamilton County provided a $300,000 appropriation to HAND, who is in turn providing a low-interest loan to fund the gym renovations.