Affordable housing units in the planning stage for Avon
(THE REPUBLICAN) — TM Crowley & Associates, an Indianapolis based real estate developer, is looking to bring affordable housing options to Hendricks County.
The desire for less costly living is no new concept. In fact a Community Needs Assessment, provided by the Hendricks County Community Foundation, reported that 39.4% of county residents in 2022 thought there was a lack of affordable housing.
That percentage is significantly higher than the 2019 number, which sat at 23.8%, according to the assessment.
Crowley, among others, have recognized the growing demand for affordable housing and thus are planning to increase the options in Avon.
While specific details are yet to be reported, the developer has been in discussions with the town involving logistics, which will include rezoning of their property located near County Road 100 S and Ronald Reagan Parkway.
The site would need to be rezoned to a PUD in order for the development to be possible.
PUD stands for Planned Unit Development, and it enables the land to be used for a variety of housing types.
An informal meeting between the developer and the town suggested that Crowley has intentions of building roughly 250 housing units.
The units will be geared towards people bringing in roughly $43,000 to $62,000 a year.
In 2023 the United States Census reported that the Per Capita Income for Hendricks County was $44,903. This means the average Hendricks County resident makes around $45,000 a year.
Furthermore, the Median Gross Rent for 2019-2023 was $1,364 for the county.
Taking those numbers and the inflation of construction costs into consideration, the site would secure partial funding through federal tax credits. There are parcels in Avon, including the parcel for the proposed development, that were shown in the 2025 HUD map as qualifying for these credits. This means that the parcels within the map boundaries receive a 30% boost to the tax credits, amounting to a $5 million subsidy or grant, according to documents presented during the informal session.
Tim Shrout, president of local property management firm Samaritan Companies, explained the concept further.
“If you don’t have your project in one of the zones, then you have a situation where you have to go to the town and say, ‘Hey, if you want workforce housing, it’s going to cost an extra 6 million bucks for this project. How can you help us?’”
The Town of Avon does not yet have any uploaded media relating to this project.
