Former lumber mill redeveloped to provide access to affordable housing in New Albany, Indiana
Kittle Property Group, Inc., a leader in the multi-family housing industry, is pleased to announce the opening of its newest property in the Hoosier State: Monon Crossing. Located in New Albany, just across the river from Louisville, Monon Crossing offers families a new option in the affordable housing market.
Built on the site of the former Stemwood Corp lumber mill off of Grant Line Road, this $43 million development has redeveloped a large parcel on the north side of New Albany. The newly constructed community features 72 one-bedroom, 108 two-bedroom, 40 three-bedroom, and 20 four-bedroom apartment homes for a total of 240 newly constructed apartments. All apartment homes are affordable to residents earning between 50% – 70% Area Median Income.
“Being able to redevelop the old Stemwood site has presented some unique challenges, but we are excited to revitalize this area of New Albany,” said a Kittle Property Group representative. “We are happy to give local community members an affordable housing option and we are ready to welcome them to their new home.”
Construction on the property began in August 2020 and the first homes became available for leasing in July 2021. Kittle Property Group expects to have all homes available for leasing by May 2022.
Residents of Monon Crossing have several options ranging from one- to four-bedroom apartments. One-bedroom apartments offer residents 891 square feet of living space. Two bedroom apartments feature 1,042 square feet, three-bedroom homes have 1,398 square feet, and four-bedroom apartments 1,497 square feet. Residents can also take advantage of garage spaces on-site that are available for rent as well as separate storage units for additional space.
All of these new construction apartments come with a variety of amenities that residents will enjoy. Each home comes with wood look flooring in the living spaces and carpet in each bedroom, ceiling fans, walk-in closets, and new GE appliances, including a full size washer and dryer in each home. Professional management and maintenance are also located on-site and are ready to provide swift turnarounds on requests.
Residents will also have access to many amenities around the property. This includes a playground, a dog park, picnic and BBQ area, and a pool. The clubhouse will have a fitness center, business center, game room, craft room and a community room with warming kitchen.
The central location of the property also offers easy access to shopping, restaurants, and recreational opportunities. There are numerous bike trails in the area, as well as Silver Street Park. The property is located just south of a Wal-Mart for convenient access to groceries and other necessities.
On site staff is currently accepting leasing applications for all prospective residents. For leasing information please contact the property at 833-691-1589 or visit their website.
About Kittle Property Group, Inc.
With roots going back to 1948, Kittle Property Group is a national leader in bringing together community, financial and government partners with innovative plans to develop, construct and manage quality, affordable and market-rate multi-family apartment homes that serve as a catalyst to local economies by sustaining families, neighborhoods and businesses. Kittle Property Group, based in Indianapolis, Indiana, owns and manages more than 18,000 apartment homes, providing homes to 30,000 family members in 19 states, and invested capital of more than $2.5 billion.
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