July 29, 2025 – Indianapolis – Today, The Community Builders and the Mapleton Fall Creek Development Corporation (MFCDC), joined with Mayor Joe Hogsett, and city and state leaders to officially break ground on Central@29 – a new affordable housing development to be built on the corner of 29th Street and Central Avenue.
“Central@29 is another example of what’s possible when we work together to make housing more affordable and accessible for all Indianapolis residents,” said Mayor Hogsett. “This project represents not just new buildings, but new opportunities for families to live, grow, and thrive in a neighborhood rich with history and heart.”
The new four-story development will provide 57 affordable apartments to the Mapleton Fall Creek neighborhood, with eleven homes reserved for individuals emerging from homelessness. Mapleton Fall Creek is a historic neighborhood, first settled in the 1870’s, that retains much of its original homes and infrastructure. Recently the neighborhood has garnered interest from new residents who appreciate the area’s character and closeness to downtown Indianapolis.
“The Community Builders are honored to be part of the Central@29 team,” said George Tabit, senior vice president of real estate development at The Community Builders. “This project reflects our mission to build and sustain strong communities where people of all incomes can access not just housing, but opportunity.”
“This development speaks to the values of our city: equity, investment, and care,” said City-County President Vop Osili. “The Mapleton-Fall Creek neighborhood has long shown what community-led transformation looks like, and Central@29 continues that legacy with dignity and intention.”
With options ranging from 675-square-feet one-bedroom units to 1,200-square-feet three-bedroom units, the $19.5 million Central@29 will serve individuals and families earning $17,000 to $70,000 per year and include supportive services from partners such as Raphael Health Center. Central@29 is being developed by MFCDC and TCB, a national nonprofit affordable-housing development firm.
“At DMD, we are proud to be a partner in bringing high-quality, affordable housing to neighborhoods like the Mapleton-Fall Creek area,” said Indianapolis Department of Municpal Development director Megan Vukusich. “Central@29 is not just a housing project, but a commitment to inclusion, sustainability, and community-driven development.”
Central@29 will be a four-story development on the southeast corner of Central Avenue and 29th Street.The affordable housing development will provide 57 units of family and supportive housing to the Mapleton-Fall Creek neighborhood. With options ranging from 675-square-feet one-bedroom units to 1,200-square-feet three-bedroom units, Central@29 will serve individuals and families earning $17,000 to $70,000 per year.
“Central@29 is a true neighborhood effort,” said David Bacon, chief executive officer of MFCDC. “And we’re thrilled to see it take shape. These new homes are rooted in the vision of the people who live here, and they will bring lasting benefit to the families who call this neighborhood home.”
The Central@29 project will complement affordable housing with supportive services from community partners such as Raphael Health Center, which has served the Fall Creek neighborhood since 1994. Eleven units will be reserved for permanent supportive housing units.
In 2023, the Mapleton Fall Creek Development Corporation (MFCDC) were awarded Low-Income Housing Tax Credits (LIHTC) from the Indiana Housing and Community Development Authority (IHCDA).Over a ten-year period, the MFCDC will receive $10 million in tax credits to support Central@29. The overall project cost is expected to be $19.5 million. Additional costs will be supported by the Department of Metropolitan Development HOME and Community Development Block Grants, the City’s Housing Trust Fund, the IHCDA Housing Trust Fund, the Indiana Development Fund, and development loans sourced through The Urban League and the Indianapolis African American Quality of Life Initiative.
“This project brings together the collective agency of multiple community partners in a truly impactful way,” said Gregory W. Porter, chair of MFCDC. “We are proud to carry forward the mission of Mapleton-Fall Creek by ensuring that everyone has a safe and stable place to call home regardless of income.”
“The Low-Income Housing Tax Credit program is one of our most effective tools for increasing access to affordable housing,” said Matt Rayburn, deputy executive director of the IHCDA. “Central@29 is a great example of how state, city, and local partners can come together to turn funding into real, life-changing impact.”
IHCDA has administered the LIHTC program to facilitate the creation and preservation of more than 150,000 units in the state since 1987.
Construction of Central@29 is expected to be completed by the winter of 2026.
For additional images, contact Jesse Migneault at The Community Builders, 857-221-8661, jesse.migneault@tcbinc.org