RealAmerica is a local Fishers business that develops low-income housing projects in many Indiana locales, but has never developed such a project in Fishers. That may change if the firm is successful in getting state and federal approval for the credits needed to construct such an apartment complex in Fishers.
The Fishers City Council, acting on an agenda item added at the very last minute, passed a resolution Monday night establishing incentives in a project agreement with RealAmerica to construct a 70-unit apartment development on Lantern Road and Appel Drive, near Interstate 69 and 116th Street.
RealAmerica would be investing $14 million in this plan. The incentive package would have the city waive up to $100,000 in fees over a 30-month period. Waivers would include impact fees, improvement location fees, building permit fees and other such fees.
This development, if approved by state and federal officials, would serve residents within 60 percent of the geographic area’s median income. City officials argue residents in this development will help fill local work force needs in Fishers.