Accelerate Rural Indiana Project Portfolio
Decatur County’s
Park Road Acres Housing
Background
Project Cost: $93,450,000
READI Funds: $2,950,000
Local Match: $7,000,000
Private Match: $60,000,000
READI Priorities Addressed
Housing
Quality of Life
Park Road Acres Housing District is phase two of a housing addition that has been mentioned in numerous City of Greensburg Comprehensive Plans. This housing project is located on prime, undeveloped land that is within walking distance of Greensburg’s historic Downtown, bowling alley, basketball and tennis courts, golf course, fairgrounds, and business class airport. Prior to the housing market crash in 2008, a developer purchased the property, annexed it into the City, and completed a site plan that calls for more than 350 middle-income homes to be built on this 115-acre property. Two phases of housing projects were planned for the site. Phase one of the project has been completed, but unfortunately only four homes in phase two have been built. Recently, a local developer purchased the remaining lots in phase two and is interested in working with community leaders to build a single-family, mixed-style neighborhood. This READI project would expand utility infrastructure to the Park Road Acres Housing District to enable the developer’s vision to come to fruition. The completion of this long-standing community priority would be a significant addition to Greensburg’s housing stock and would contribute to the alleviation of the region’s housing shortage.