1st Source a financial partner for new housing development in South Bend
1st Source Bank is pleased to be the financial partner for a new housing development in South Bend known as South Bend Mutual Homes. 24 single-family homes are under construction west of downtown. The homes will provide affordable housing to low-income residents and they will add life to a neighborhood that has included many vacant and abandoned homes in recent years.
Jim Seitz, 1st Source President, took part in the groundbreaking ceremony today, joining partners South Bend Heritage Foundation, Neighborhood Development Associates, Great Lakes Capital Fund, the City of South Bend, the Indiana Housing and Community Development Authority, the Federal Home Loan Bank of Indianapolis and others.
The project is expected to be completed by January.