$600,000 in READI 2.0 allocations will leverage investments for Oak Street Village, which will feature 50 rental units and childcare facility.
On Friday, July 18, Governor Mike Braun joined local and regional officials for a groundbreaking ceremony held for a new affordable multi-family housing community coming to the City of Loogootee in Martin County. Sullivan Development LLC and JBH Ventures LLC are developing Oak Street Village, which will feature 50 one-, two, and three-bedroom apartment units for residents and families earning 30%, 50%, and 60% of the area median income (AMI). The development will also include onsite residential amenities, including a childcare facility, clubhouse, and playground.
The Indiana Uplands READI Steering Committee, Regional Opportunity Initiatives (ROI), and the Indiana Economic Development Corporation (IEDC) previously announced that $600,000 in Regional Economic Acceleration and Development Initiative (READI 2.0) funding has been committed to Loogootee’s Oak Street Village. The $600,000 READI 2.0 allocation will be used for site preparation and infrastructure, including erosion control, site excavation, concrete, sanitary water, and stormwater sewer systems.
This $14 million project was also awarded $1.3 million in annual low-income housing tax credits from the Indiana Housing and Community Development Authority in late 2024.
“Over the past decade, the City of Loogootee and Martin County have shown an unwavering commitment to regional collaboration and fostering initiatives that enhance quality of place for current and future residents of the Uplands,” said ROI President and CEO Tina Peterson. “Oak Street Village—with its blend of affordable housing, onsite childcare, and recreational amenities—exemplifies the kind of public-private partnership that will serve Loogootee and the Indiana Uplands well for years to come.”
The Oak Street Village development demonstrates the power of what’s possible when local and regional partners come together around a shared vision,” said Travis Vencel, Development Director at Sullivan Development.
Joe White, CEO of JBH Ventures, added, “We’re not just building 50 units of high-quality housing and affordable housing; we’re laying the foundation for generational change. From the 4,800-square-foot childcare center to job training, soft skills development, and financial literacy, every aspect of this development is designed to support families in moving from where they are to where they dream to be.
Indiana’s $1.25 billion READI program is bringing vibrancy to regions across the state to accelerate shovel-ready projects and programs that will transform Hoosier communities, attract talent, and improve quality of life. READI, which has been nationally recognized for its success, encourages regional collaboration and data-driven, long-term planning that will benefit current and future residents for generations to come. The state’s $1 billion investment, which secured additional funding awarded by the Lilly Endowment, is expected to attract a minimum 4:1 match of local public, private, and nonprofit funding, yielding at least $3 billion invested across all 92 counties to enhance Indiana’s quality of life, quality of place, and quality of opportunity.
ROI and a regional steering committee manage $60 million in READI 1.0 and 2.0 matching funds awarded to the Indiana Uplands region to grow the region’s capacity as a national hub for innovation; develop and attract in-demand talent; advance housing, infrastructure, and place-based assets; and enhance the region’s unique cultural, artistic, physical, and livable amenities. In addition to this new READI 2.0 project announcement, the Indiana Uplands READI region previously announced READI 2.0 funding commitments for seven regional projects. A total of 27 projects and programs were awarded READI 1.0 funding in the Indiana Uplands region. For more information, announcements, and Indiana Uplands READI project updates, visit: https://regionalopportunityinc.org/readi/
Learn more at IndianaREADI.com.
About Regional Opportunity Initiatives (ROI): ROI is a nonprofit organization with a mission to advance economic and community prosperity in the 11 counties of the Indiana Uplands (Brown, Crawford, Daviess, Dubois, Greene, Lawrence, Martin, Monroe, Orange, Owen, and Washington counties). ROI is growing potential and possibility through a focus on advanced industry sectors, regionalism, transformative school and workforce redesign, and placemaking strategies. To learn more about ROI’s programs, visit https://regionalopportunityinc.org/.
About the Indiana Uplands: The Indiana Uplands is an 11-county region encompassing Brown, Crawford, Daviess, Dubois, Greene, Lawrence, Martin, Monroe, Orange, Owen, and Washington counties. In a region replete with talent and resources, it is home to Naval Support Activity Crane, the third-largest Naval Installation in the world; the number one small Metropolitan Statistical Area (MSA) for specialized employment in the medical devices and equipment category,2nd in the pharmaceuticals category; and an automotive and heavy manufacturing cluster that has grown by more than 93% since 2012. Uplanders—from students to visionaries, artisans to entrepreneurs— call our 11 counties home. Find your place to thrive at https://inuplands.org/