Accelerate Rural Indiana Project Portfolio
Rushville’s
Boulders Housing
Background
Project Cost: $24,200,000
READI Funds: $2,000,000
Local Match: $1,800,000
Private Match: $15,000,000
READI Priorities Addressed
Housing
The City of Rushville’s 2017 comprehensive housing study revealed the last housing development in the community dated back to the early 1990’s. The city also learned there was a need for new housing at all price points within the community. Being outside the “doughnut” counties, Rushville did not witness the growth of new housing starts following the Great Recession. Based on the results of the housing survey, city leadership determined that the city should incentivize the development of new housing to address the community’s housing needs, because new housing was not growing organically. As a result, the city has secured a 49-acre site and is acting as the prime developer for the site to prepare it for development. The city has adopted a master development plan for the property, which includes multi-family and single-family housing opportunities. Joyner Homes is the single-family home builder. In total, Joyner Homes has agreed to build 64 homes in the multi-phase development known as The Boulders. The city has financed the majority of the cost of site development for the development and infrastructure for Phase I of the development has been constructed. READI 2.0 funds would be leveraged for infrastructure costs to finish phases II & III of the single-family development, adding the final 30 homes. Financing will be secured by December 2025. Construction is set to begin in August 2025 and be complete by August 2026.