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State Awards Tax Credits for Renovation of Historic Kohr Building into New Affordable Housing Development

11/20/2023

7 Comments

 
The Bloomington Housing Authority (BHA) and Brinshore Development, L.L.C. (Brinshore) are pleased to announce that the State of Indiana Housing Community Development Authority has awarded 9% Low Income Housing Tax Credits for the renovation and construction for the Kohr Administrative Building for a new affordable housing community. The tax credit will provide more than $10 million in additional financing for the estimated $18.6 million project. Located in the City of Bloomington’s new Hopewell neighborhood, where the City and the Bloomington Redevelopment Commission have been redeveloping the former site of the IU Health Bloomington Hospital, Kohr Community Flats will be a cornerstone project for the newly envisioned neighborhood within the City.

The adaptive reuse and rehabilitation of this historic former hospital, erected in 1947, will create nine Permanent Supportive Housing apartments in partnership with Centerstone. An additional 29 apartments will be provided for individuals on the BHA waitlist who earn below 50% of the area median income (AMI). Brinshore has extensive experience with historic adaptive reuse, and building and operating affordable housing targeting homeless or low-income families.  Kohr Community Flats will be BHA’s first development to create supportive housing and is another significant step forward in the city’s continuing efforts to address homelessness.
“Bloomington Housing Authority’s conversion of the Kohr building will create homes for homeless and other hard-to-house individuals, not a shelter,” said Kate Gazunis, Bloomington Housing Authority’s Executive Director, underscoring that this will allow for much needed housing exits from the City of Bloomington’s complex shelter system. In addition to Centerstone’s services staff, residents of Kohr Community Flats will have access to services offered by BHA’s resident services program to ensure the health and stability necessary for these formerly homeless or at-risk individuals to successfully live independently.

“Kohr Community Flats represents what is possible when city leaders and our communities think creatively about affordable and supportive housing solutions,” said Mayor John Hamilton. “Through this supportive housing community, with Centerstone just across the street, Bloomington is adding another important component of our shared efforts to address homelessness in our community by creating permanent housing opportunities.”

The vision for Kohr Community Flats is to transform and modernize the outdated, three-story building, preserving its Bloomington limestone Art Deco façade and adding a four-story addition in order to maximize housing capacity. The project will provide 38 one- and two-bedroom apartments, each with a modern kitchen, a full bathroom, and laundry. Renovation plans include a new community space for property management offices, onsite services, case management, and an activities center. Additional property amenities include bike storage, a bed bug decontamination room, community room, fitness center, social services office, and community outdoor space.  

"We are very excited about the news on funding for the Kohr Building's redevelopment. Its preservation and evolution into 38 affordable housing units has been a priority for the City since the inception of the Hopewell neighborhood–a once in a generation opportunity for Bloomington. The City of Bloomington looks forward to continuing work with Brinshore, Centerstone, the Bloomington Housing Authority, Summit Hill Community Development Corporation and our neighborhoods to move the project ahead–and we will celebrate the day when the first resident is there," said John Zody, Director, Housing and Neighborhood Development Department (HAND), City of Bloomington.

“As a cornerstone project for the City’s Hopewell redevelopment, this project is a symbol of the City’s commitment to creating affordable housing and preserving historic landmarks in the community,” said Karly Brinla, Vice President Development Manager at Brinshore Development.  “It is impossible to create housing for hard-to-house populations without strong community partners like the Bloomington Housing Authority, the City of Bloomington, and Centerstone.”

Additional financing for the $18.6 million development includes $1.03 million in funds from the City of Bloomington, $1.8 million in permanent financing from a lender, $10.6 million in tax equity credit, $1.6 million in land contribution in the form of a Seller Note, a $500 thousand IHCDA Development Fund Loan, $1.5 million from the IHCDA National Housing Trust Fund, and $1.4 million in Historic Tax Credit Equity. The BHA will lend $377,000 to the project. Kohr Community Flats is slated for completion in early 2026.

For more information about the project, please contact Karly Brinla, Vice President Development Manager, Brinshore Development, LLC, at [email protected] or 847-363-5202.
7 Comments
retaining wall contractor link
1/1/2024 01:28:05 am

This initiative to allocate tax credits for renovating the historic Kohr Building into affordable housing showcases a proactive approach to revitalizing heritage structures while addressing housing needs.

Reply
contractor link
7/1/2024 08:41:15 am

Thank you for sharing this informative post! It's truly inspiring to see the collaborative efforts of the Bloomington Housing Authority, Brinshore Development, and other community partners in transforming the historic Kohr Building into much-needed affordable housing. This project not only preserves a significant piece of Bloomington's architectural heritage but also addresses the pressing issue of homelessness in the community. Kudos to all involved for their dedication to creating supportive and sustainable housing solutions!

Reply
Concractor Guy link
7/4/2024 12:19:56 am

This announcement from the Bloomington Housing Authority and Brinshore Development is truly uplifting. The transformation of the historic Kohr Administrative Building into affordable housing not only preserves its heritage but also addresses critical community needs. The project's emphasis on supportive housing for vulnerable populations underscores a thoughtful approach to urban redevelopment. Mayor John Hamilton's vision for inclusive growth shines through, marking Kohr Community Flats as a beacon of hope and progress in Bloomington's housing landscape.

Reply
Locksmith link
7/22/2024 11:45:35 pm

This is fantastic news for Bloomington! The transformation of the historic Kohr Building into affordable housing is a commendable initiative. Kudos to the Bloomington Housing Authority and Brinshore Development for their efforts in addressing homelessness and preserving a piece of the city's heritage. The addition of supportive services and modern amenities truly underscores the project's potential to make a significant positive impact on the community. Great job!

Reply
Survey Technicians link
8/26/2024 07:22:16 am

What an inspiring project! I remember visiting Bloomington and seeing the old Kohr Building—it's amazing to think of it being transformed into such a valuable community asset. Kudos to everyone involved for turning a historic site into a beacon of hope for those in need. Great job, author, for shedding light on this significant development!

Reply
Learn more link
8/27/2024 07:48:15 am

What an inspiring development! It’s heartening to see the historic Kohr Building being transformed into a hub of hope and stability with the Kohr Community Flats project. I remember visiting a similar adaptive reuse project in my hometown, and it truly made a difference in the community. Kudos to everyone involved, especially Kate Gazunis and Mayor John Hamilton, for spearheading such a meaningful initiative!

Reply
Tree Trimmer link
8/31/2024 05:27:47 am

What an inspiring development for Bloomington! I remember walking past the old Kohr building and wondering what would become of it. It's heartwarming to see such a historic landmark being transformed into affordable housing that will make a real difference in the community. Kudos to everyone involved, especially Karly Brinla and the team for their vision and dedication!

Reply



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