Southern Indiana Business Report
WEST BADEN SPRINGS – A $9 million affordable multifamily housing project is coming to West Baden Springs.
TWG Development, a national real estate development company, announced the construction of West Baden Lofts last week.
West Baden Lofts will have 44 total units – 30 2-bedroom apartments and 14 three-bedroom apartments. It is TWG’s first development in Orange County.
The project will be built at 942 Main St., which is just east of State Road 56, the main artery running through town.
West Baden Lofts will be a fully affordable community with units reserved for households making 30-60% of the area median income (AMI).
“There is a need for more housing options at all price points in the Indiana Uplands region, and TWG is thrilled to have the opportunity to provide a new affordable housing community to the West Baden Springs and Orange County community,” said TWG Development Director Marisa Conatser. “We hope that West Baden Lofts helps to fill in the gap of affordable housing in the area and that it inspires more critical affordable communities to be built here in the future.”
Kristal Painter, executive director of the Orange County Economic Development Partnership, said the county has a critical need for affordable housing, especially for those working in the hospitality industry.
“The French Lick Resort employs over 1,000 full-time staff. With these apartments being in West Baden, they will serve people working at the Resort properties, Big Splash Adventure or any of the other entities,” Painter said.
Painter said the county has apartment complexes for income-eligible older adults but there are few options for individuals and families who work.
In a press release, TWG plans to include amenities such as a playground, bike hub and garden space.
The location is also close to downtown and within walking distance of the resort and Big Splash. Construction is to begin this month with completion in late 2024.
West Baden Lofts was made possible with the support from the Indiana Housing and Community Development Authority, Innovative Veteran Affairs Real Estate, Merchants Capital, Cedar Rapids Bank and Trust and the Town of West Baden Springs.
Cook Group housing project
Increasing housing in Orange County is also being addressed by Cook Group, which recently build 12 new homes on Abydel Road and will build 25 homes in French Lick. That project, called Klondike, is a partnership between Cook and the Town of French Lick, which received a $1.75 million READI grant to install water and sewer infrastructure and build a road.
The homes are priced between $155,000 and $185,000.