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Developer wants a bigger Broadway Lofts complex

By Gary 411

Construction of Broadway Lofts in downtown Gary has a new start date. The 34-unit apartment building set to be built at 7th Avenue and Broadway previously had a start date of Fall 2019.

The Gary Redevelopment Commission, at its July 24 meeting, approved an amendment to the project setting the start date to 2020 because the developer now wants to add more housing. MVAH Holding, LLC of Cincinnati, Ohio wants to expand the number of units and sites near Broadway Lofts.

A.J. Bytnar, Gary’s Department of Redevelopment director, said Miller Valentine is seeking additional rental housing tax credits and loans from the Indiana Housing and Community Development Authority to construct up to 52 scattered site attached townhomes east of Broadway Lofts, between 6th and 8th Avenues. The IHCDA provided partial funding for the Broadway Lofts project.

Bytnar said MVAH had applied for funding of the apartments and townhomes from IHCDA in 2018, but only received funding for the Broadway Lofts. “They’re submitting an application this week to IHCDA for Phase 2, the homes. If the allocation is approved, MVAH can start both in Spring 2020. This will be a tremendous investment in downtown Gary,” Bytnar said.

In 2018, MVAH purchased 41 lots from the city, some in the Emerson area. Earlier this year, the city received approval from Indiana’s Office of Historic Preservation to demolish the remains of Memorial Auditorium to make way for Broadway Lofts.

Broadway Lofts units are specified as middle-income and senior housing containing 1- and 2-bedroom apartments.

IHCDA tax credit awards will be announced at the end of the year.

Brad Meadows, IHCDA Marketing & Communications Director said, “IHCDA staff will bring tax credit recommendations for approval at the November 21 board meeting. Following that meeting in November, we will release the list of projects that were awarded.”

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