Thrive West Central outlines housing push for Vigo County, cites pending grants and loan funds

Ryan Keller, CEO of Thrive West Central, told the Vigo County council that the nonprofit has expanded local housing efforts and expects continued growth. “We’ve got up to 560 housing units that have now been developed or under contract to be developed within Vigo County,” Keller said, adding that building‑permit tracking showed 1,059 housing units under contract for 2025 into 2026.

Keller said Thrive’s county investments — which he described as roughly $3.7 million in Thrive‑led investment — have helped leverage private‑sector development. “It’s yielded a $133,000,000 in private sector development with the work that’s under contract with Thrive,” he said. He described a five‑year county goal of about 3,200 housing units and a regional target of roughly 4,500 units.

Keller reviewed several local projects: a Liberty Avenue catalyst redevelopment in Terre Haute, an Indiana State University partnership that will create about 74 new lots (with $4,000 lot costs) and a down‑payment assistance program he said will enable households up to 140% of area median income to receive up to 5% down‑payment help (2.5% federal, 2.5% local contribution). “This is a program that with Thrive, we’re able to get a 140% of the area median income to give them up to, 5% down payment assistance,” he said.

He also described financing the organization expects to use: a Ready2 award the transcript cites at $1,650,000 (described as forthcoming), a pending blight/rehabilitation award the transcript references at about $5,000,000 (name and exact program not specified in the transcript), and a possible $3,000,000 catalyst site investment. Keller said those items together could total roughly $8,000,000, less than the $11.6 million he originally requested. He also told the council Thrive has a $2,000,000 seed revolving loan fund intended to create a pipeline for new builders.

Council members asked about geographic reach and local impacts. Keller said Thrive’s core district covers seven counties and the organization does business with about 15 counties; he said approximately 71% of Thrive’s budget currently comes from government sources and 29% from fee‑for‑service or private funding. Councilmember Randy Gentry asked how much Vigo County taxpayers contribute annually; Keller said an annual grant/matching request is typical and estimated Vigo County’s recent match at roughly $200,000, while noting some ARPA funds of $5,000,000 were awarded in 2024 toward related programs.

Keller framed the programs as intended to “reset the comparables” in weak markets so private builders can enter and recoup costs. He said some projects will begin below 60% of area median income and move toward market rate over time. The council did not vote on any Thrive‑specific appropriation during the meeting; members asked for follow‑up materials and annual grant reports.