The Economic Acceleration and Development Initiative (READI 2.0) gifted the Main Street Mile Initiative with a $1.75 million grant on Nov. 12.
There is a housing shortage nationwide, Andrea Masvero, executive director of 1846 Enterprises, said. Upland is no exception.
“The grant will fund the extension of Ivanhoe's Drive and related utilities in the Kershner Commons neighborhood, adding 22 single-family homesites and making way for future development on adjacent land,” the Main Street Mile Initiative press release said.
After the necessary permits and approvals are given, the construction is projected to begin in the spring, and homesites will be available for reservation “after the first of the year,” the press release said.
Masvero said they will establish an interest list of people - they are not committing to buy - who want to stay updated on when the lots become available for sale. The interest list is open to everyone.
The lots will be sold to individual homeowners who can have whatever builder they choose, Masvero said. Builders may also buy lots to fit the market’s interest in what is desirable in a home.
From a consumer market perspective, between 340 and 450 new rental and for-sale housing units can be leased or sold in Grant County annually over each of the next five years, a study conducted by The Grant County Economic Growth Council said . This includes families accounting for 33%, empty nesters/retirees for 30% and younger singles/couples for 36%.
Because Indiana wants to increase its population for economic growth, it has recognized the housing and utility needs in Upland.
From an economic-development perspective, it's important to have increasing populations because it signals growth to businesses and developers who want to come to town, Masvero said. Another aspect of having a growing population is having the support for local businesses such as the grocery store, pizza shop and gas stations, she said.
Additionally, Upland and Taylor want to attract talent, new processors and new leadership, and it is important for Upland to have places to house them. Masvero said when people are looking to take a job at Taylor, they are going to ask, ‘Where can I take my family? Where can I live?’ and Upland does not offer a consistent housing market to provide answers.
In 2021, Gov. Holcomb established the now $1.25 billion READI program. The READI 2.0 allocated another $500 million to regions across the state to accelerate programs that are to develop Indiana communities in the short and long term, the press release reported.
“Their (READI 2.0) intention is to fund infrastructure improvements that are preventing private development from taking place,” Masvero said.
READI 2.0 helps towns expand their sewer systems and neighborhoods, provides housing and puts in roadways.
“They're really just helping to do some of the things that aren’t possible through private development alone – private investment alone,” she said.
The 1846 Enterprises is a community and economic development organization. They are affiliated, but nevertheless separated from Taylor University.
Their objective right now is the Main Street Mile Initiative, Masvero said. The 1846 Enterprises acts as a go-between Taylor and part of Upland, hearing about both sides’ goals which is what the $1.75 million grant is for — Upland and everyone it encompasses.
