Our Southern Indiana Regional Development Authority named a pair of major Charlestown projects that will receive a combined $7.4 million in funding after the RDA approved revised methodology on project selection. The projects chosen to directly benefit Charlestown would bolster infrastructure and affordable housing.
The RDA received $50 million in Indiana Regional Economic Acceleration and Development Initiative (READI) grant funding earlier in December 2021. On July 8, projects to receive funding were announced, upon final approval.
The Charlestown Wastewater Treatment Plant would receive $5 million from READI. The project is in progress as the design phase is well underway before construction begins early next year. Improving the city’s wastewater utility will provide needed updates, handle anticipated residential growth, and service business growth at the River Ridge Commerce Center.
The Market Street Commons development, which will offer multi-family affordable housing, is slated to receive $2.4 million from READI. The developer, Marian Development Group, has begun to submit building permits for the project. Initial plans called for six buildings with approximatively 192 units.
“Charlestown’s expectation of funding based on the revised methodology demonstrates the fit of our projects with state and federal goals to bolster lagging key infrastructure components and encourage the development of affordable housing,” said Mayor Treva Hodges. “This investment into our community complements the growth coming as River Ridge develops and helps us overcome years of economic depression that we’ve suffered since the Army abandoned the Ammunition Plant.”
Clark, Floyd, Scott, Jefferson, and Washington counties received $50 million in READI funding.
“I’m excited for this opportunity to help Charlestown play a vital role in the advancement of our region and optimistic that our RDA’s performance with this first round of READI funding will demonstrate our region’s desirability and motivate additional funding for projects that didn’t receive full support at this time,” said Hodges.
In addition, River Ridge Development Authority announced in March to contribute $12 million toward the estimated $42 million Wastewater Treatment Plant in Charlestown.