Historical Highlights
Near North Development Corporation has been driving community development for 25 years. A non-for-profit corporation, the organization was founded in 1977 by a coalition of area businesses, Methodist Hospital of Indiana, and neighborhood residents. It was established to stimulate economic development and stability in the area, remove blight and deterioration, and enhance the quality of life for area residents and employees. Working with City-County and State governments, Near North early on developed an effective working model of public/private partnerships to halt and reverse these trends, bringing new businesses and housing to the community.

The Regional Center Zoning Ordinance, passed in 1982 with widespread support of the area’s business community, helped to ensure that an orderly and systematic approach to development and revitalization in the area could be carried out and that major investments could be protected.

Accomplishments and activities
Near North Development Corporation accomplishes its mission through a set of core activities:

• Homeownership activities
• Construction of single family homes

• Brownfield Remediation and Redevelopment
• Home repair assistance
• Rental housing development
• Commercial/business development
• Community organizing
• Beautification and enhancement of public areas and facilities

Near North, in cooperation with grassroots neighborhood organizations has worked diligently to ensure that residents can remain in the area, in their own homes. Near North has undertaken the rehabilitation and construction of hundreds of homes in the service area. In the past five years alone, Near North has invested $5 million in new or rehabilitated housing to increase homeownership opportunities for low and moderate income families.

One of the most impressive accomplishments was the 1986 opening of Kenwood Place, a 74-unit apartment complex providing affordable housing for area seniors.   April 1993 marked the opening of Kenwood Place II, a 24-unit addition. Near North has also completed another 40 units of rental housing utilizing Low Income Housing Tax Credits.

Near North played a major role in obtaining the funding and implementation of major infrastructure improvements to the 60 acre Near North Industrial Park. This included a $2 million storm sewer to pave the way for industrial park development, a $1.1 million boulevard to allow the hospital replacement project to occur, a new fire station, and new curbs and sidewalks in the residential area.

In 1989, Near north received a federal grant for the establishment of the Indianapolis Science and Technology Park. In partnership with a private developer, the $5 million Phase 1 of the Park opened in 1991 and for many years served as the northern anchor of the Canal Redevelopment. A neighborhood retail center is in the development process, bringing the promise of jobs and accessible retail opportunities for area residents.

Community Partnerships
Near North Development Corporation has an ongoing relationship with a variety of community and corporate partners, including Methodist Hospital, The Children’s Museum of Indianapolis, the City of Indianapolis, the Local Initiatives Support Corporation, the US Department of Housing and Urban Development, Highland Vicinity Association, and Meridian Highland Association.

Meetings
Near North’s Board meets on the second Thursday of each month at the Indianapolis Power & Light Service Center at the corner of 21st and Illinois Street.