City Announces Federally Funded Redevelopment Program For Neighborhoods

Mayor Joe Hogsett pitched the redevelopment of Monon16, and future projects through the new program, as "the new Fall Creek Place." The neighborhood was dramatically redeveloped with HUD funds starting in 2001. (Photo by Drew Daudelin)

Indianapolis Mayor Joe Hogsett Thursday announced a new initiative to revitalize low-to-middle income neighborhoods.

The program is called Lift Indy. Its first investment will be in the Monon16 area, east of downtown.

Hogsett says the city will use $4.5 million to develop the area over the next three years. He says the money will support affordable housing, beautification, public amenities and more.

“[It will] incorporate all of the components of this complete community, where long-term residents are uplifted and new neighbors are welcomed,” Hogsett says.

Hogsett pitched the redevelopment of Monon16, and future projects through the program, as "the new Fall Creek Place." That neighborhood was dramatically redeveloped with HUD funds starting in 2001.

Funding for Lift Indy comes from two federal grants, both through the Department of Housing and Urban Development – the HOME Investment Partnerships Program and Community Development Block Grant.

The mayor says a new neighborhood will be selected for the program every year, through a data-driven and competitive process.

The city says it is looking for neighborhoods with "strong market potential."