As community demographics and populations change, school corporations are often forced to consolidate or close school buildings, leaving structures that were once vital to a community sitting vacant, contributing to community blight, and negatively impacting surrounding neighborhoods. The unincorporated town elementary school closed over ten years ago, and two absentee landlords have allowed the massive building to fall into disrepair and become a safety hazard for the community. The Milroy Economic Development Corporation (MEDC) has been diligently seeking solutions for reuse of the building.

Along with the MEDC, Rush County elected leaders are championing an effort to help obtain the property and renovate the blighted former school. The community is in negotiations with a local developer to transform the 35 one-bedroom units and 5 two-bedroom units. Anticipated rent is $750 per month for one-bedroom apartments and $850 for two-bedroom apartments. This READI project makes this initiative possible by alleviating the cost of purchasing the property and preparing it for credits to support the project.

The redevelopment will be age-restricted to align with Indiana Housing & Community Development Authority (IHCDA) guidelines and is anticipated to create three additional full-time equivalent jobs for maintenance/ groundskeeping, a leasing agent, and a social services coordinator. This partnership is invaluable as Milroy currently has no market-rate apartments. The housing development is strategically located 10 blocks from the current Milroy School and eight miles from the City of Rushville. The project is designed to activate development and foster investment opportunities in over the last decade, this initiative will serve as a much-needed stimulus for growth and revitalization