Walnut Ridge was established as a low-income, tax credit, senior housing facility, located in Marion County, Indiana. The project contained two parts, 26 newly constructed homes and the renovation of 52 apartments from an existing one-story school building that was being used as a church.
The project site evaluation focused primarily on three characteristics that would boost the project’s value: access, visibility and environment. The market at the time was lacking in modern, affordable rental housing for older adults. The comprehensive amenity package proposed for the site gave a competitive advantage over many other porjects within the market.