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Woda Cooper earns IHCDA’s support for two new affordable communities, including 15 housing units for homeless veterans


November 26, 2019, Indianapolis, IN…The Indiana Housing & Community Development Authority (IHCDA) recently allocated affordable housing tax credits to 18 proposed projects, including two communities that will be developed by Woda Cooper Companies, Inc.

In Indianapolis, Proctor Place will create 61 high-quality new apartment homes on the vibrant Central Greens campus, just west of downtown. HVAF of Indiana is the co-developer and general partner for Proctor Place, where 15 units will be set aside for homeless veterans and supported with project-based vouchers from the City of Indianapolis.

“Providing permanent supportive housing for veterans was a key goal from the start of developing Proctor Place,” said Nick Surak, Vice President-Development, Woda Cooper Companies. “This facility will expand on HVAF’s proven expertise in providing transitional housing and other services for the state’s veterans.”

HVAF will coordinate an array of supportive services and operate a daily shuttle to the Roudebush VA Medical Center. “HVAF, also known as Helping Veterans And Families, is proud and privileged to partner with Woda Cooper Companies in expanding veteran-friendly affordable and supportive housing options in Indianapolis,” said Brian R. Copes, President and CEO of HVAF.

The three-story Proctor Place at 240 N. Warman Avenue, Indianapolis, will offer one, two, and three-bedroom apartments available to residents in three income categories: up to 30%, 50%, and 80% of area median income. This accommodates a wider range of incomes than affordable housing now available in the Central Greens neighborhood. An existing five-bed transitional housing facility will be redeveloped as part of the new community.

Financing for the $12.7 million Proctor Place reflects the development team’s success in leveraging multiple funding sources, including equity from an opportunity zone fund, the City of Indianapolis’s commitment for a payment in lieu of taxes (PILOT), conventional debt, the 15 project vouchers, the King Park Development Corporation’s Edge Fund, and the equity to be generated through the housing tax credits.

“Our financing mix enabled our planning team to request the minimal level of credits from IHCDA and forego seeking state soft funds, leaving over a $1 million in resources available to other projects,” said Surak, lead developer for the new community.

Proctor Place will feature many energy-saving features and be built to LEED Silver certification standards. Along with 61 attractive apartments, the community will include an onsite management office, two spaces for supportive services consultation, a community room, free wi-fi throughout, multiple free computer stations, secure indoor bicycle storage on each floor, and a number of units for those with mobility impairments.

IHCDA also announced the allocation of housing tax credits for the development of Harper’s Crossing charted for suburban Plainfield, southwest of Indianapolis. The 60-unit affordable rental community will be adjacent to The Shops at Perry Crossing on a parcel of land that has been a vacant and overgrown eyesore for many years.

“Plainfield is rapidly growing with a substantial unmet need for housing for workers at the area’s many retail businesses, distribution centers, as well as the Indianapolis International Airport,” said Greg Mustric, Woda Cooper Vice President-Development. “Harper’s Crossing will serve residents from 30% to 80% of area median income of all ages, appealing to the area’s workforce.”

The $12.9 million property will offer a three-story building and be comprised of 15 one-bedroom units, 30 two-bedroom units, and 15 three-bedroom units. A number of the units will be designed with accessibility features for those with mobility and site/hearing impairments. Six units will be set aside specifically for the those with physical or developmental disabilities. In addition, free wellness screenings and a rent rewards program will be available to all residents.

Apartments at Harper’s Crossing will feature open floor plans, central air conditioning, and washer/dryer hookups. The building will offer free wi-fi throughout, a community room with kitchenette, a common laundry room, fitness room, yoga/meditation room, counseling office, and an onsite management office. Outside, there will be a playground, bicycle racks, a patio, and raised bed gardens. Energy efficiency is a key component with design, construction, and materials are being used to meet LEED Silver certification standards.

Harper’s Crossing is located in an opportunity zone and also received a tax abatement from the Town of Plainfield. Conventional debt plus the equity raised from the housing tax credits will be used to fund this community.

About Woda Cooper Companies, Inc.
Woda Cooper Companies, Inc. and its affiliates are experienced developers, general contractors, and property managers specializing in the design, construction, and management of affordable multi-family apartments, senior communities, and single-family homes. Considered leading experts in the affordable housing industry, the Woda Cooper team is known for producing and maintaining high quality affordable housing. Affordable Housing Finance ranked the firm 13th overall among Developers and 26th overall among Owners in its April/May 2019 issue. Woda Cooper Companies, Inc. has developed and currently manages more than 300 communities and 12,000 units, operating in 15 states. In addition to its Columbus headquarters, the firm has offices in Savannah, Georgia; Indianapolis, Indiana; Shelbyville, Kentucky; Annapolis, Maryland; Mackinaw City, Michigan; Charlotte, North Carolina; and Norfolk, Virginia. For more information, call (614) 396-3200 or visit

About HVAF of Indiana
HVAF of Indiana helps homeless veterans return to self-sufficiency and engages at-risk veterans to prevent them from becoming homeless by providing supportive housing, case management, food, hygiene, and clothing, as well as other essential services. For more information about the Indianapolis, IN, based organization, visit or call 317-951-0688.