New Partnership will address lack of affordable housing in Indianapolis

A new local partnership aims to help create homeownership opportunities for individuals and families experiencing disproportionate wealth and racial disparities in Marion County.

CareSource, a nonprofit health plan, has invested $2.5 million with Indianapolis Neighborhood Housing Partnership.

CareSource Director of Housing, Amy Riegel said focusing on better housing for underserved communities can have positive health outcomes.

“We know that 80 percent of what impacts a person’s health outcomes actually occur from their conditions outside the doctor’s office,” Riegel said. “So, your zip code is more of a determinant than your genetic code.”

Rob Evans, executive vice president of INHP’s homeownership initiatives, said there is a shortage of affordable housing in the city.

“Having investments like this, this $2.5 million investment from CareSource can help organizations like INHP and other organizations across Indianapolis and the state really address the affordable issues and bring new units online and to also provide affordable innovation mortgage financing,” Evans said.

A study from the Center for Research on Inclusion and Social Policy at Indiana University-Purdue University Indianapolis (IUPUI) found the Black homeownership rate in Marion County is 34%, compared to 64% for white homeownership in the county. Even in predominantly Black neighborhoods in Marion County, 56% of homes are owned by white residents, with only 37% owned by Black residents.

“A main goal of ours is to be able to improve housing access for people who are traditionally left out of homeownership and to support the state in its efforts to bring equity for all Hoosiers,” Steve Smitherman, CareSource Indiana president said.

The partnership is part of CareSource’s multi-million dollar commitment in investments to affordable housing projects in Indiana.

Contact WFYI Morning Edition newscaster and reporter Taylor Bennett at tbennett@wfyi.org. Follow on Twitter: @TaylorB2213.