St. John Homes

21st Ave. and Virginia St. Gary, IN

Assembling financing for the acquisition and substantial rehabilitation of this 144-unit property took nearly three years, ultimately enabling the transformation of what the Indiana HUD office cited as its most troubled property. Proceeds from a HUD-insured second mortgage and the syndication of low-income housing tax credits funded the replacement of major building systems, addition of roof gables to enliven the architectural vocabulary, and site work to improve management’s ability to monitor access to the property.