Community Foundation of Southern Indiana commits $300k to tackle affordable housing crisis

Following the release of a comprehensive housing study last month, the Community Foundation of Southern Indiana (CFSI) is stepping up to address the growing need for affordable housing in Clark and Floyd counties. Prompted by Housing: The Affordability Challenge in a Growing Region, which outlined critical shortages in housing availability and affordability, CFSI’s board of directors has committed $300,000 to jumpstart collaborative efforts aimed at expanding affordable housing options for local families. The initiative will focus on households earning 80% or less of the area’s median income.

“The Affordable Housing Study made it clear that our region faces significant challenges in providing safe and affordable housing options for working families,” said Linda Speed, CFSI President and CEO. “As a community foundation, we believe in turning knowledge into action. By committing this initial funding, we are not only investing in research and planning but in real, tangible solutions that will create lasting impact for the people of Clark and Floyd counties.”

CFSI is partnering with The Wheatley Group, an economic development consulting firm, and the Indiana University Southeast Applied Research and Education Center (IUS AREC) to lead the initiative. Together, they will implement a Collective Impact Model — a framework designed to unify efforts among key stakeholders including local governments, developers, financial institutions, and nonprofit organizations.

The project will unfold in two phases: Plan Development and Implementation. The first phase includes engaging stakeholders, assessing current assets, and conducting an in-depth analysis of housing gaps and barriers to homeownership. Teams will also explore tools and incentives to encourage development. The second phase will focus on feasibility studies, securing development incentives, and working directly with partners to advance affordable housing projects.

A central piece of the three-year plan is the formation of a dedicated Affordable Housing Development Collective Impact Team. This group will develop a 10-year strategic plan with measurable goals, funding strategies, and community-driven solutions. One of the initiative’s key goals is to break ground on up to 100 new affordable housing units by the third year.

To learn more about the study or CFSI’s ongoing efforts, visit CFSouthernIndiana.com/housing.