Bierhaus Flats Development, which is working on building a multi-housing complex on Bierhaus Boulevard, learned this week they’ve gotten a $3.1 million loan from the first round of the Residential Infrastructure Fund from the Indiana Finance Authority.

Bierhaus Flatts was one of 11 communities approved to share the $51 million in total loans to projects supporting residential housing development in the sate.

The program was established during the 2023 General Assembly session.

It requires that the Indiana Finance Authority to prioritize loan applications from communities with housing friendly zoning.

Knox and Clark Counties were the only southern Indiana areas to receive loans.

Bierhaus Flatts complex will contain 240 market rate apartments with one, two and three bedroom options available.

Also planned is a parking garage, a walking trail and other resources for occupants.