CARMEL, Ind. – Mortgage banking company Merchants Capital today announces that it has provided $11 million for the construction of SouthPointe Village, a 62-unit multifamily and affordable housing community coming to Fishers, Indiana. The equity bridge loan is financed on behalf of RealAmerica Companies. Located at 11144 Lantern Road, SouthPointe Village will be available for renters who earn 50-80% of the area’s adjusted median income (AMI). This project will be a 30-month loan with a $1.2 million low-income housing tax credit (LIHTC) that allows the development to be built with rents lower than current market value. “This unique project allows us to understand the importance of funding affordable housing, especially in cities like Fishers. With rent steadily on the rise, the need for quality, affordable housing that Hoosiers can afford to live in grows greater and greater,” said Merchants Capital Assistant Vice President, Originations Brian Shelbourne. “We are honored that our financing will benefit the Fishers community and be a part of its continued, outstanding growth.” Apartments at SouthPointe Village will rent for $650-$950 a month for a one-bedroom and $760-$1,100 a month for a two-bedroom – a significant drop compared to the current average rent prices in Fishers for a one-bedroom ($990 a month) and two-bedroom ($1,250 a month). Annual federal tax credits through the Indiana Housing and Community Development Authority (IHCDA) were closely examined to help keep rent rates lower than average. “It is vital that communities have quality housing options that support a variety of income levels,” said IHCDA Executive Director Jacob Sipe. “SouthPointe Village will do just that while at the same time further enhance the quality of a place for working families in Fishers. This is a very exciting housing development and we are proud to be a part of it.” Fishers’ newest affordable housing property also sets aside 25% of the apartments at lower rents for the developmentally disabled, with the help of local central Indiana organizations such as Janus Development Services, Outside the Box, Opportunities for Positive Growth and Insights Consulting. “We are so excited to work with Fishers to offer workforce housing that helps those working in the community be able to live, play, and attend school in the community they work in,” said Ronda Weybright, President and Owner for RealAmerica. “Located in the heart of Fishers on the Nickle Plate Trail, families are within walking distance of downtown and all it has to offer. Also, for persons with disabilities, we are thrilled to come alongside several partners to provide supportive housing that allows them to stay close to their families in Fishers while providing easy access to services and opportunities within this community.” To learn more about this project, please click here. To learn more about Merchants Capital and its services, visit www.merchantscapital.com, or find Merchants Capital on Facebook, Twitter, LinkedIn, and Instagram.

  CARMEL, Ind. – Merchants Capital, a mortgage banking company headquartered in Indiana, has provided $10 million in financing for the construction of Haven Homes, a 52-unit affordable and supportive housing apartment community coming to Plainfield, Indiana. Haven Homes is an apartment complex that’s considered affordable for all, where anyone or any family looking to rent an apartment can do so at an affordable price. Through the partnership between borrower RealAmerica Companies and Sheltering Wings, a non-profit that provides emergency housing for survivors escaping abuse, 25% of the affordable apartment units are allocated for project-based vouchers specifically for survivors of domestic violence. Additionally, all residents will have access to supportive services in the community resource center and clubhouse, with mental health services provided by Cummins Behavioral Health Systems, Inc. and domestic abuse support provided by Sheltering Wings. Not only does the apartment complex and community serve former and current residents of Sheltering Wings, but Haven Homes provides affordable housing to all families in Hendricks County who need it. Those working in and around the area of Plainfield are able to live and thrive in the supportive housing community, together making positive social and economic contributions. “Where you call home determines so many things about your life. This project not only amplifies the dedicated mission of Sheltering Wings, but also shares the importance of affordable housing, especially in rapidly growing areas such as Plainfield,” said Merchants Capital Assistant Vice President, Originations Brian Shelbourne. “Merchants Capital was honored to partner with RealAmerica Companies and Sheltering Wings to bring this project to life. Together, we’re shining a light on these issues and supplying safe, secure, high-quality affordable housing where everyone, including survivors of domestic abuse, can prosper and grow.” When survivors of domestic violence are secure enough to move out of Sheltering Wings, opportunities for affordable housing properties become a great need for them. According to the Sheltering Wings website, “The financial strain of keeping a roof overhead – not to mention vehicle, childcare and education expenses – can be a major stumbling block between a determined survivor and sustained independence.” “Studies continue to show among the greatest barriers to develop stability and independence are affordable housing, reliable transportation, affordable childcare and access to mental health services,” said Sheltering Wings Executive Director Cassie Mecklenburg. “Haven Homes allows us to help families with several of these areas and we don’t take this opportunity lightly. We want to be advocates for families to establish safety, succeed and build self-sufficiency. It is an honor to partner with other like-minded organizations who care about our families and community.” As Cummins Behavioral Health Systems, Inc. administers the mental health services to those who request and require it, Sheltering Wings will in tandem use the community room to build their life skills programming, conduct case management, share prevention and education programs, administer health services, and support the children and survivors of domestic abuse. “We are honored to partner with the Indiana Housing & Community Development Authority (IHCDA) and the town of Plainfield to bring affordable housing to families that work in the community,” RealAmerica President and Owner Ronda Weybright said. “By partnering with Sheltering Wings and Cummins Behavioral Health, we are able to provide services on-site that encourage stability and independence to help families thrive, while living in a beautiful and affordable environment.” “The Town of Plainfield is excited that Plainfield was chosen as the home for the Haven Homes project for many reasons. Town staff has worked to diversify our housing market for awhile now,” said Town of Plainfield Town Manager, Andrew Klinger. “This development will have a tremendous impact on our economy, as it is in the heart of our warehouse and retail district and there is immediate access to public transportation. The units in this development will allow employees who work here to also live here.” Construction has already begun on Haven Homes, with the goal of the development to be fully completed by Fall 2021. To view the project’s recent groundbreaking, please click here. To learn more about Merchants Capital and its services, visit www.merchantscapital.com or find Merchants Capital on Facebook, Twitter, LinkedIn and Instagram.