MUNCIE, Ind. – TWG (www.twgdev.com), a national real estate development company specializing in commercial, commercial, affordable and senior housing, has announced construction of River Bend Flats, a $12 million affordable multi-family development in southeast Muncie, Indiana.
River Bend Flats at 1800 Burlington Drive will be a three-story, 60-unit development located at the intersection of Burlington and Memorial on the former Marsh and Family Dollar site. The affordable condominium complex offers two- and three-bedroom apartment floor plans, and units are reserved for residents earning up to 60% of the area’s median income (AMI).
The project was made possible with support from the City of Muncie and Low-Income Housing Tax Credits (LIHTC) from the Indiana Housing and Community Development Authority (IHCDA).
“River Bend Flats will mark TWG‘s first project in Muncie, and we are very excited to expand our presence in our home state with this affordable residential project,” said Travis Vencel, Development Director at TWG. “Muncie is a welcoming and development-oriented community in need of more affordable housing options for local residents, and the construction of this project will provide opportunities for these residents to thrive.”
Outdoor facilities to be included in the new property include a community clubhouse and playground. Construction of the project is ongoing and development is expected to be completed in Spring 2023.
Based in Indianapolis, TWG is currently expanding its national footprint with development projects across the country, with recent announcements for developments in Iowa, Arizona, Washington and more. TWG recently announced the construction of Rise on Meridian, a new $58 million multi-family development in south Indianapolis.
Founded in 2007 and headquartered in Indianapolis, TWG is a fully integrated real estate development company specializing in commercial, commercial, affordable and senior housing throughout the country. With a focus on development, financing, design, construction and management, TWG has handled over $1.5 billion in development costs and over 9,000 units nationwide. Committed to building strong foundations with its team, equity partners and the communities it serves, TWG know that we grow together. Learn more at www.twgdev.com.