Pictured is a map of the new subdivision. Photo provided by Indiana Economic Development Corporation.
Press release
DELPHI – The Indiana Economic Development Corporation joined with local and regional officials in Delphi on Friday, Aug. 16, to break ground on Bowen Estates, a new single-family housing development supported by matching funds from Indiana’s Regional Economic Acceleration and Development Initiative.
Governor Eric J. Holcomb launched the $1.25 billion READI program in 2021, which has since been recognized nationally for its success. Launched with an initial budget of $500 million in partnership with the Indiana General Assembly, READI 1.0 is bringing life to regions across the state to accelerate immediately actionable projects and programs that will transform Indiana communities, attract talent and improve the quality of life.
“Here in the heart of America’s heartland, the great state of Indiana is an ideal destination for talent and families,” said Governor Holcomb. “We offer unique urban, rural and suburban housing options across the state, thanks in part to Indiana’s READI program. Indiana residents in all of these unique settings are seeing more opportunities and improvements that enrich their communities with high quality of life. This new housing development in Delphi is another prime example that will provide area residents with more availability and options, promoting economic growth and community development.”
In the Greater Lafayette region, READI grant funds are being used to advance the $1.25 million Bowen Estates project, including a $625,000 READI 1.0 allocation to support the construction of roads, utilities and related earthworks and infrastructure for Delphi’s new single-family home development. The development will create 175 homes on 67.9 acres on the south side of the city, increasing opportunities for homeowners and families in Delphi and the surrounding area while supporting the region’s growing talent pool.
“What began as a vision to provide the City of Delphi with adequate housing for future generations is now becoming a reality as we break ground on the historic Bowen Estates Subdivision,” said Delphi Mayor Kamron Yates. “Groundbreakings like Bowen Estates are a true testament to state, local and regional cooperation. The City of Delphi is extremely grateful for this opportunity as we strive to build a solid foundation of quality of life and housing for generations to come.”
READI 1.0 awarded $487 million to 353 unique projects and programs across the state, investing $12.6 billion—a 26:1 investment leverage ratio—in initiatives to improve quality of life, quality of place, and quality of opportunity. READI 2.0, which was part of Governor Holcomb’s Next Level Agenda 2023 and received additional funding from the Lilly Endowment, provides an additional $750 million to accelerate community development investments across the state. This funding is expected to be at least 4:1 matched by local public and private funds, investing at least $3 billion to increase the vibrancy and prosperity of Hoosier communities.
Carroll County is part of the Greater Lafayette Region – led by the Greater Lafayette Commerce Community and Economic Development Foundation – which received $65 million in READI 1.0 and READI 2.0 grant funds to support projects that improve quality of life, housing quality and quality of opportunity. The region’s READI investments, including Bowen Estates, are designed to increase regional populations in rural and urban areas through targeted investments at Purdue University, to support Indiana’s growing semiconductor industry, and to support concentrated efforts to retain and develop talent and attract new workers to the region through investments in housing, livability and community vibrancy, parks and trail development, and investments in arts and culture.
For more information, visit IndianaREADI.com.
