26%

OF RESIDENTS LIVE IN POVERTY

Affordable Housing as a Pathway to Economic Mobility

Quality and affordable housing is often overlooked as a critical component in generating jobs and stimulating economic development in neighborhoods. Creating more affordable housing options creates a sustainable workforce, generates tax revenue, stimulates the local economy, spurs economic development, builds healthier neighborhoods and more stable families, and reduces foreclosures and displacement.

 

Research shows that housing is the priority for creating and sustaining economic agility and that one’s ability to attain opportunities is inherently associated with the community where they live, work, and play. When housing is affordable in socially diverse neighborhoods such as Crooked Creek, parents can provide nutritious food for their families, secure reliable daycare and transportation, send their children to achieving schools, feel safe and less stressed, and receive necessary medical care. When affordable housing is available, families earn more, live better, and increase their life expectancy! 

 

Affordable housing serves as the first rung on the ladder towards upward fiscal progress. Crooked Creek has a limited supply of affordable housing and quality rental units but, is also positioned within proximity of Park 100, Ascension St. Vincent, and other large employers. As the gap between home prices and income widens, 26% of Crooked Creek residents now live in poverty, 47% of households spend more than 30% of their income towards housing, and the median salary is only $40,000.

 

Creates a sustainable workforce

Crooked Creek CDC leads affordable housing efforts to create a stable and safe environment for families to live, work, and play. Our collective impact strategy is achieved when partners connect residents with workforce development resources, life skills, educational opportunities and, employment.

generates tax revenue

From the construction materials purchased to income tax generated through employment housing directly, indirectly, and induces impact on generating tax revenue that helps to support neighborhood parks, public infrastructure, and safety. 

Spurs economic development

Housing density makes neighborhood corridors attractive for business expansion or relocation which embellishes the fabric of a neighborhood and creates new experiences and opportunities for residents and visitors.

stimulates local economies

Neighborhoods that have affordable, right-sized and available housing experience stimulated local economies as residents purchase much-needed items like food, medicine, and household supplies or, enjoy dinner and a movie at the local theater.  

REDUCES DISPLACEMENT & Foreclosure

Families thriving in stable environments have greater access to resources and social capital that propels them towards an upward path of mobility and gives them a chance at breaking generational poverty.  

builds sustainable neighborhoods

Crooked Creek is rich in history, culture, and diversity. By introducing more affordability, multi-generational households are stabilized and families are positioned to grow a network of social capital resources, businesses experience increased cash-flow, and neighborhoods become vibrant and attractive.

When housing is affordable... parents have access to steady employment and can provide nutritious food for their families and secure reliable daycare and transportation.

When housing is affordable... children have access to higher-quality schools, enrichment programs and developmental opportunities, and a higher chance of upward mobility. 

When housing is affordable... economic mobility opportunities are created, net-worth is increased, and generational poverty is interrupted.

Crooked Creek Community Development Corporation (CDC) engages residents and serves as a convener to create opportunities for those living north of Kessler Boulevard, south of 79th Street, east of Michigan and Cooper Roads, and west of Grandview.

 

Our five-year strategy aims to leverage entitlements, gain private-market funding, and secure other sources to support collective efforts that increase economic mobility opportunities by forging strong partnerships and leading affordable housing strategies, and economic development.

 

Representing residents, the CDC will collaborate with partners to bring housing costs down through subsidies, serve as co-developer on commercial revitalization projects, and lead homeowner repair efforts in the area.

  6002 N. Michigan Road,  Indianapolis, IN 46228  tholmes@crookedcreekcdc.org  317-257-5388