Accelerate Rural Indiana Project Portfolio
Shelbyville’s
Porter Apartments
Background
Project Cost: $39,946,234
READI Funds: $250,000
Local Match: $3,800,000
Private Match: $15,837,235
READI Priorities Addressed
Talent Attraction and
Development
Quality of Place
Over the past five years, the City of Shelbyville and Shelby County have added over 1,700 new or committed jobs to the area, putting the city and county on a path of sustained growth for their immediate and long-term future.The Porter Apartments Development is a mixed-use project that aims to begin to address the need for additional multi-family units by adding approximately 160 new downtown residential living units, with a mix of studio, one and two-bedroom units. The project also redevelops the adjacent Coca-Cola building into a new retail and restaurant space. In total, the project is expected to cost nearly $31.5 million and is located at the gateway to Downtown Shelbyville. READI funds were used to help offset a portion of the site redevelopment cost.