Lafayette receives $7.7 million

LAFAYETTE, Ind. (WLFI) - from the Indiana Housing and Community Development Authority will help fund development in the Glen Acres neighborhood.

Mayor Tony Roswarski said, with rising foreclosures and a struggling economy, it's going to help revitalize the area.

"We are taking a proactive approach in this neighborhood rather than watching homeowners falter and homes decline," said Roswarski.

City officials have big plans for the $7.7 million it received from the state.

"Of course the cornerstone of these improvements will be the development of Chatham Square, which will replace the former Bridgeway apartments," said Roswarski.

Chatham Square will be a development of 10 single family homes and 89 rental units for low income people. But Roswarski said that is just the beginning of what will be done with the money.

"Some other improvements that will be coming are eight foreclosed homes will be rehabilitated, and sold at an affordable price," said Roswarski.

In addition, sidewalks will be added, streets repaired, and six blighted homes will be demolished. Resident Barabara Everson has lived in Glen Acres for more than 40 years. She said in recent years she's seen some declines in the neighborhood and is ready for it to come back.

"What bothers me sometimes though is that there are rentals, so many rentals," said Everson.

Rentals like the former Bridgeway Apartments were things Everson say hurt the neighborhood. Everson said she's optimistic Chatham Square will be different.

"I hope they look a lot better," said Everson. "I hope that it works."

Lafayette is one of 21 Indiana communities that received money for neighborhood stabilization.

Lieutenant Governor Becky Skillman said a total of 50 million dollars given to those communities will reverse a downward spiral of foreclosed and abandoned homes.