The Waters of Indianpolis

3895 S Keystone Ave, Indianapolis, Indiana 46227

Contact The Waters of Indianpolis

The minute you enter the door, you’ll discover compassionate and attentive staff dedicated to providing you with exceptional care. The Waters of Indianapolis offers comprehensive medical, memory care, and rehabilitative therapy services addressing a wide range of clinical needs. Both short-term patients and long-term residents alike receive the expertise needed to achieve their fullest potential. Whether you’ll soon be heading back home, or are here to stay, you’ll be glad you chose The Waters.

Conveniently located within 10 minutes of downtown Indianapolis close to I-65 and I-465, The Waters of Indianapolis is a welcoming 81-bed center that features comfortably spacious private and semi-private resident rooms. Residents and families alike enjoy our cheerful, sun-filled community areas. And, when the weather is nice, our beautifully landscaped grounds offer an enjoyable place to interact with family, friends and fellow residents. They also offer a special conference room which is available for private family gatherings.

Eligibility for The Waters of Indianpolis

The Waters of Indianpolis Details

48 bedroom units.
FHA Mortgage Insurance/subsidy
HOME Investment Partnerships Program
Low-Income Housing Tax Credit (LIHTC)
Section 223
Section 221 (d) (3)

HOME Investment Partnerships Program

This project has received some funding from a participating jurisdiction (local or state government agency) through the HUD HOME Investments Partnerships Program (HOME). In projects with five or more HOME-assisted units, at least 20% of these units must be occupied by families earning 50% or less of area median income (AMI). All other HOME-assisted units must be occupied by families earning 80% or less of AMI, but in practice most are reserved for families earning 60% or less AMI. Maximum monthly rent is capped with a Low HOME Rent for <50% AMI units and a High HOME Rent for the remaining HOME-assisted units. Contact the property directly for the specific dollar amount of these rent caps.

Low-Income Housing Tax Credit (LIHTC)

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.