An approximately $5 million in home makeovers is beginning in Richmond’s Starr Neighborhood, which has been on Indiana Landmarks’ statewide “10 Most Endangered” list.
Construction is to begin March 21 for the estimated $5.2 million project.
Economic Development Corp. of Wayne County entered into an option to purchase real estate from K & R Hoosier Investments LLC in October. At its Dec. 29 meeting, EDC President Valerie Shaffer announced that previous action, and its board authorized Shaffer to execute the Notice of Intent to Exercise Option.
The first group of homes — 221 N. 12th St., 1200 N. A St. and 205 N. 13th St. — are being purchased for $40,000, $60,000 and $40,000, respectively, plus closing costs. The homes are currently unoccupied.
The option document was signed by Richard and Kathleen Anderson, who serve as president and vice president of K & R Hoosier Investments.
Funds toward the project are coming from Indiana’s Regional Economic Acceleration and Development Initiative 2.0, supported by Lilly Endowment Inc.
Wayne County is receiving $976,000 from READI/LEI toward the project that aims to rehabilitate about 20 housing units. The board approved a grant agreement with Indiana EDC at the meeting.
The option agreement lists 13 additional historic homes to purchase and renovate. None are to be demolished, although some additions might need to be torn off in the process.
They are: 229 N. 10th St., 225 N. 10th St, 115 N. 12th, 117 N. 12th, 303 N. 10th, 222 N. 12th, 218 N. 12th, 214 N. 12th, 121 N. 12th, 223 N. 13th, 219 N. 13th, 222 N. 13th and 218 N. 13th, for a total of $990,000.
Experts are conducting walk-throughs to see if the homes are structurally sound enough to rehabilitate. They can be withdrawn from the purchase.
EDC staff say the goal is to not immediately displace any residents, and as properties are organically vacated, leases won’t be renewed.
Local matches to qualify for the READI/LEI funds include $2.8 million in private funds, $200,000 from the county’s land bank, $369,000 from Richmond Redevelopment Commission and $780,000 from Wayne County’s earlier blight elimination program.
EDC is acquiring Starr neighborhood properties over a three-year period, and renovations are to be completed by Dec. 31, 2028.
Also at the meeting, EDC’s board approved a memorandum of understanding with Affordable HomeMatters Indiana LLC, a subsidiary of Intend Indiana Inc., to oversee the three homes.
AHMI will hold the properties and cover expenses such as maintenance and insurance, but will not charge an administrative fee, which Shaffer said is generous. The agreement will remain in effect until June or until the properties are transferred to the local land bank.
AHMI, which already conducted a ribbon cutting for adding homes to the nearby Vaile neighborhood, will hold the three properties until Wayne County’s land bank is created. Several community partners are developing an interlocal agreement to create the local land bank discussed in recent months.
A version of this article appeared in the January 14 2026 print edition of the Western Wayne News.