North Vernon to receive $5 million in grants for renovations

North Vernon will be receiving $5 million in grants to help with two community projects, as part of the state’s READI program.

According to the South-Central Indiana Talent Region, the grants will go to help redevelop Country Squire Lakes and to create housing through infill development in the downtown area. The money is coming from the first round of Lilly Endowment funding to the state program and will be two of the first 17 projects funded.

$1 million of the funds will go to the Country Squire Lakes project and $4 million toward the downtown infill development. According to the organizers, the Country Squire Lakes project will convert blighted and underutilized lots, making them ready for new homes. The downtown project will fund 16 Uptown Lofts apartments, 54 units at Ironclad Flats, and the renovation of the historic Red Men building. The Red Men Building would be used for short-term rentals and a co-working space.

The South-Central Indiana Talent Region group represents Bartholomew, Jennings and Jackson counties and Edinburgh in organizing and applying for projects through the state’s Regional Economic Acceleration and Development Initiative, or READI program.

The READI grants come on the heels of the announcement last week that North Vernon has been chosen as this year’s PreservINg Main Street community, unlocking up to $2 million in grants to revitalize historic buildings downtown.

Photo: Redmen Lodge in North Vernon. Photo courtesy of Indiana Landmarks