Huntingburg Senior Housing project catalyst for city's future plans

Here is an artistic rendering of what the new development at the former-St. Joseph Hospital will look like. Pete Schwiegeraht, a developer with Cincinatti-based Miller-Valentine Group, presented the Huntingburg Council with this drawing last fall when he explained the plans for the beleaguered building. The new development will house 48 one- and two-bedroom condos for individuals 55 and older. To assist in the firm's tax credit application, the city confirmed it would contribute $300,000 in economic incentives to the project. The $300,000 could be funded through the creation of a Tax Incremental Financing District, with the city's Tax Abatement program or through other means. — Here is an artistic rendering of what the new development at the former-St. Joseph Hospital will look like. Pete Schwiegeraht, a developer with Cincinatti-based Miller-Valentine Group, presented the Huntingburg Council with this drawing last fall when he explained the plans for the beleaguered building. The new development will house 48 one- and two-bedroom condos for individuals 55 and older. To assist in the firm’s tax credit application, the city confirmed it would contribute $300,000 in economic incentives to the project. The $300,000 could be funded through the creation of a Tax Incremental Financing District, with the city’s Tax Abatement program or through other means.

Huntingburg — The recent approval of the tax credits for Miller-Valentine Group’s development in the former-St. Joseph Hospital in Huntingburg fuels the fruition of several projects for the city.

The St. Joseph Hospital senior housing development project hinged on the developer receiving those rental housing tax credits through the Indiana Housing and Community Development Authority. The announcement yesterday that the project was included on the shortlist of awards guarantees the development will move forward.

This is important in clearing up what has been a blackened eye on the north entrance to the city. The approval for the rental housing tax credits guarantees the project will move forward in the beleaguered Huntingburg hospital. It closed in 2007 and has since sat empty despite efforts by the city and economic groups to attract or establish a new business.

“This is going to happen,” Mayor Denny Spinner said today.

The development was also included in the City of Huntingburg’s recent application for the Stellar Community Grant as the first priority on the plan. With that checked off the list, Mayor Denny Spinner feels the city’s chances of moving to the next stage of the grant process have increased.

“This is the catalyst for a lot of development on the north side of Huntingburg,” Spinner said.

Miller-Valentine, the developer on the project, was confident the merits of the project would guarantee its approval for the tax credits on the short list of only 15 multi-family housing developments. The announcement yesterday from the Indiana Housing and Community Development Authority (IHCDA) confirmed their confidence.

[quote]The approval for the Rental Housing Tax Credits guarantees the project will move forward in the beleaguered Huntingburg hospital. [/quote] The approval for the Rental Housing Tax Credits guarantees the project will move forward in the beleaguered Huntingburg hospital. It closed in 2007 and has since sat empty despite efforts by the city and economic groups to attract or establish a new business.

This appears promising for the Stellar Grant process for the city which could mean up to $10 million to be used to move forward with the items listed in it recent update to the comprehensive plan. The IHCDA is one of three state partners involved in the grant process; Indiana Department of Transportation and the Office of Community and Rural Affairs being the other two. All three groups are involved in Huntingburg projects right now.

The senior housing project addresses several local issues. The county is suffering from a lack of qualified moderately priced housing. The added apartments will allow older residents the option to stay local if they wish to downsize from the responsibilities required with home ownership. In response this should free up more homes in the area for younger couples to move into.

A major factor in the award of the tax credits for the developer was their partnership with TRI-CAP. TRI-CAP provided the key role of the local Community Housing Development Organization (CHDO) for the application for housing tax credits.

“We appreciate the commitment from Miller Valentine and the Indiana Housing and Community Development Authority (IHCDA) to make this project a reality,” Joyce Fleck, TriCap Director stated today. “This was a very competitive process. Our Huntingburg Senior Residence project was one of fifteen successful awards in the state, from among forty-four proposals submitted last fall. We are pleased to help bring more senior housing options to Dubois County.”

“This type of development will have impact not only in Huntingburg but throughout our region, as well,” Spinner said.

Construction of the senior housing development is expected to take place in the fall of 2014, with units available for rent in the fall of 2015.

Pete Schwiegeraht, a developer with the company, stated Miller-Valentine will invest about $8-9 million to acquire, renovate and add to the northwest wing of the building to create the senior living units. The senior independent living apartments will be one- to two-bedroom units ranging from 675 to 875 square feet with full amenities.

Plans for the construction include renovating the first and second floors of the west and north wings along with constructing a two story extension to the north side of the existing hospital building.

Miller-Valentine Group, a 50-year-old nationally recognized commercial and residential real estate company with developments throughout the Midwest, will be the general contractor on the project and will bid the project locally.

Once construction is complete, they will continue to manage the property.