New affordable housing coming to New Albany

New affordable housing coming to New Albany
Rendering of the upcoming Lancaster Lofts.

NEW ALBANY, Ind. (WAVE) - Monday’s groundbreaking in Indiana means affordable housing is coming to downtown New Albany.

The new Lancaster Lofts will be at the corner of Market and Vincennes streets.

The project is a micro-loft development at the former Tommy Lancaster site. Owners say building affordable housing is their number one goal.

“A lot of pressure for folks in today’s world and economy. Affordability was the key point for us, and the city putting this together," Paul Barber, Lancaster Lofts owner, said. "It’s hard out there and we recognize that and we want to be in a market that’s not really being met. We could probably use more of these.”

The owners hope to begin renting the apartments by August 2020. There are 56 units at various price ranges.

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