Overview

Snowy Owl Commons (“SOC”) is a project in collaboration between Area IV Development, Inc. and Keller Development, Inc to be located at 2900 – 2970 Burrowing Owl Lane and 198 – 300 Barn Owl Way, Lafayette, Indiana 47905. SOC will consist of the new construction of 50 units plus a clubhouse and outdoor amenities targeting low- to moderate- income seniors making 80% or less of the Tippecanoe County Area Median Income. There is a lack of affordable housing in Lafayette Indiana and throughout the State of Indiana. The City of Lafayette is supporting the needed infrastructure to make projects feasible. The City is supporting the 10 ft trail along the east side of the property; consisting of the earthwork, concrete, and landscaping, along with infrastructure work in the right of way along Twyckenham Blvd; consisting of curb cuts, grading, landscaping, and erosion control along with Rule 5 weekly inspections. The total cost of the project is approximately $13.7M with a total ask of $200,000 in READI funds. Construction commenced in May 2024 with completion anticipated in September 2025. Match will be provided by Old National Bank, City of Lafayette, Federal Home Bank, Area IV, and the IHCDA. READI funds will be used for earth work, pavement, and landscaping.