Boston Capital Invests in Two Affordable Apartment Communities for Families in Indiana with RealAmerica Development

August 20, 2020 — Boston Capital is investing in the construction of two affordable apartment communities in Indiana: SouthPointe Village Apartments, a 62-unit development serving families and the developmentally disabled in Fishers and Haven Homes, a 52-unit development in Plainfield for families, including victims of domestic violence. These investments represent Boston Capital’s second and third partnerships with RealAmerica Development, LLC, based in Indianapolis, Indiana.

“We are excited to team up with Ronda Shrewsbury Weybright and RealAmerica in the new construction of 114 affordable homes for families in the Fishers and Plainfield areas,” said Jeff Goldstein, chief operating officer and director of Real Estate at Boston Capital. “Excellent access to supportive services, employment opportunities, retail, healthcare, and public transportation make these apartment communities especially favorable places for families to call home.”

SouthPointe Village Apartments and Haven Homes will be built with tax credit equity from the Low Income Housing Tax Credit (LIHTC) program. Boston Capital’s investments in these developments add 114 affordable homes to its apartment portfolio. To date, Boston Capital has invested in more than 3,200 affordable apartments in Indiana.

About SouthPointe Village Apartments:

Located 14 miles northeast of Indianapolis’ central business district, SouthPointe Village Apartments will offer 19 one-bedroom and 43 two-bedroom units in a single residential building. Thirteen units will be set aside for persons with developmental disabilities. RealAmerica is partnering with local nonprofits to provide opportunities for education, employment training and independent living.

Units will feature open concept floor plans, built-in kitchen appliances, free Wi-Fi and in-unit washers and dryers. The development will include a clubhouse with a community room, computer center, fitness center and classes and space for service providers. Other amenities will include an indoor playground, library and access to the Nickle Plate Trail.

About Haven Homes:

Located 14 miles southwest of Indianapolis’ central business district near the Indianapolis International Airport, Haven Homes will feature 16 one-bedroom, 20 two-bedroom and 16 three-bedroom units in two residential buildings. Thirteen units will be set aside for victims of domestic violence. RealAmerica is partnering with local non-profits to provide services focusing on helping residents gain independence and stability.

Units will feature open concept floor plans, built-in kitchen appliances, free Wi-Fi and in-unit washers and dryers. The development will include a freestanding clubhouse with a community room, computer center and fitness center with classes. Other community amenities will include a kids’ playroom (Haven’s Hub), a dog park, outdoor sports court and access to Clark’s Creek Trail. Haven’s Hub is a play area for kids that includes indoor play equipment, toys, an arts and crafts station, and a reading corner with soft seating and books. Haven’s Hub will provide a safe and social place for kids to play while their parents are learning life skills, participating in group therapy, or receiving treatment or counseling in the adjacent areas. In addition, Haven Homes will offer a tele-health room where residents can meet virtually with off-site physicians, therapists, or clinicians for an initial assessment or follow-up appointments.

“We applaud RealAmerica’s efforts to provide the developmentally disabled and victims of domestic violence with stable and safe places to live as well as extensive social services,” said Goldstein. “We are proud to be part of this great team, bringing affordable housing to some of our most vulnerable residents.”

SouthPointe Village Apartments and Haven Homes will be constructed to the Silver National Green Building Standard. Both apartment communities will offer excellent access to employment opportunities, supportive services, retail, healthcare and public transportation.

About RealAmerica Development, LLC:

RealAmerica, a WBE-certified company, was created in 1995 for the purpose of developing and constructing apartment housing through the use of Low-Income Housing Tax Credits. Building on that experience, RealAmerica expanded into other real estate development including market rate apartments, self-storage, business office, and mixed-use developments as high-quality opportunities have arisen.

About Boston Capital:

Boston Capital, headquartered in Boston, MA, is a real estate investment and advisory firm specializing in equity investments in affordable multifamily housing and market rate apartment communities. Boston Capital’s holdings presently include 1,300 multifamily apartment properties in all 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands and Guam, constituting nearly 108,000 apartment homes. Boston Capital is one of the largest owners/investors of apartment properties in the United States.

For More Information:

Allison E. Marino
Public Affairs/Media
617.624.8678