(LaPorte, IN) - The city of LaPorte is offering financial incentives to create more housing in the upper levels of buildings in the downtown.           

 The goal is to capitalize on a trend especially among young people to live within a short walk of restaurants and other destinations without having to maintain a home, said Mike Riehle

 Riehle said interest in downtown living is high but adequate housing is in short supply.

"The demand is crazy,” he said.

Grants of up to $10,000 for each living unit created started being offered recently to help offset what can be a cost prohibitive venture for owners of old buildings downtown.

The funds would narrow the gap between cost of remodeling and rental income generated by the new second and third floor units.

Riehle said the result would be additional traffic for a downtown adding more new businesses like Bare Bones gastropub at 518 Lincolnway and New Age Baking Company at 612 Lincolnway.

“It’s a win, win for everybody,” he said.

Riehle pointed to LOFTS@920 as an example of the success downtown living can have in LaPorte.

The apartments built above Louie’s Café at 920 Lincolnway about 15-years ago consistently are at full occupancy, he said.

200 resort type apartments to start going up beside Clear Lake in the spring and the additional store customers expected from that development adds to the potential of living downtown, he said.  

Riehe said grants of more than $10,000 per unit could be awarded depending on the building plans and other factors driving potential.

Anyone interested in applying for the grants should contact Angela Rose, the city’s downtown coordinator, at (219) 324-8584.