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The Courtyard, located at 530 Home Ave., hosted a ribbon-cutting and open house on Thursday, July 10, 2014. The Courtyard is a $7.2 million, 47,000 square foot apartment complex that will accommodate 18- to 25-year-olds entering adulthood without significant support, who are aging out of foster care, or are at risk of becoming homeless.

"This is another example of the great things taking place in our community," said Fort Wayne Mayor Tom Henry. "Thanks to the compassion and dedication of area neighborhoods, non-profits, foundations, and our financial and development community, a once-blighted property is now home to an innovative development for some of our most vulnerable young adults."

Receiving the Audrey Nelson Community Development Achievement Award from the National Community Development Association, The Courtyard is an exceptional asset to the community. It Courtyard consists of one, two-story structure with a total of 24 one-bedroom and 12 two-bedroom apartments. The Courtyard has state-of-the-art amenities such as a commercial teaching kitchen, exercise room, arts and crafts room, and an on-site urban
garden. Counseling and other supportive services are available to residents.

The apartment homes are available to those individuals whose income is below 60% AMI, as a basis requirement for
occupancy. In addition, a 12-month lease is required on the apartments because they must be used on a non-transient basis. Residents will move into the space in mid-July.

About The Courtyard: The property is owned SCAN, Inc., with supportive services managed by SAFY. Biggs Development LLC is the Developer and Ideal Suburban Homes the general contractor. MKM architecture + design was the architect, and Neighborhood Development Associates the Consultant. Biggs Property Management will manage the property.

The Indiana Housing and Community Development Authority awarded Rental Housing Tax Credits, TCAP and Community
Development Block Grant funds to the project. Neighborhood Stabilization Program funds were provided by the City of Fort Wayne. The Corporation for Supportive Housing provided pre-development financing. The Indianapolis Federal Home Loan Bank provided a $500,000 AHP grant acting through their member, Tower Bank now Old National. Great Lakes Capital Fund invested $6 million in the project. The Lutheran Foundation and the Mary Cross Tippmann Foundation also provided support. Rental assistance will be provided
by the Fort Wayne Housing Authority. Visit http://courtyard-fw.com/ for more information.