Kinser Flats Includes 50-units of Housing for Homeless Families and Individuals
Cinnaire recently joined Centerstone, a non-profit health system providing mental health and substance use disorder treatments, to celebrate the virtual grand opening for Kinser Flats, a 50-unit affordable housing development paired with support services for homeless families and individuals with substance abuse disorders or co-occuring substance abuse and mental health disorders. Cinnaire provided a $9.5 million Low Income Housing Tax Credit (LIHTC) investment and a $400,000 predevelopment loan to support Kinser Flats. Cinnaire Title provided the title work.
Kinser Flats was designed to include space for onsite recovery-focused support services for tenants to be provided by Centerstone and other community partners. The development will operate as a low-barrier facility guided by the Housing First, harm-reduction approach, which prioritizes housing as a foundation for life improvement. Kinser Flats, the first project of its kind in Indiana, addresses the need to provide affordable, accessible housing for people struggling with homelessness and substance abuse.
“Centerstone has a long history serving as a leader in community-based mental health care,” said Keith Broadnax, Cinnaire Senior Vice President, Business Development. “They are committed to making a positive difference for their clients by delivering care that changes people’s lives. Combining affordable housing with onsite support services will allow those suffering from addiction to recover in a safe environment and to create pathways forward to achieving a better life. Kinser Flats is going to be a place that changes lives and we are proud to be an investor in this project.”
The four-level Kinser Flats building includes 38 one-bedroom and 12 two-bedroom units. The innovative development provides modern, light-filled interiors and spacious floor plans and is conveniently located near public transportation. Each units includes a bedroom, kitchen and living area furnished with appliances, beds, chairs, tables and a couch. Residents are provided with towels and bed linens. Cinnaire, through our resident engagement program, is providing welcome baskets for each resident including household items.
Cinnaire’s investment in Kinser Flats was facilitated by CDFI Friendly Bloomington, a non-profit organization established to connect local investment opportunities with regional and national CDFIs. Kinser Flats is the first investment from CDFI Friendly Bloomington. Additional funding partners include the City of Bloomington Housing and Neighborhood Development (HAND), the Bloomington Housing Authority, Old National Bank, the Federal Home Loan Bank of Indianapolis (FHLBI), and the Indiana Housing and Community Development Authority.