ELKHART, Ind. -- The City of Elkhart announced it has been awarded $12 million in READI 2.0 funding after the Indiana Economic Development Corporation Board of Directors approved 17 projects Sunday, representing the first $131 million investment from the $250 million Lilly Endowment Inc. award to support READI projects.

The projects aim to enhance the quality of place and life in communities across Indiana.

Elkhart was awarded the funds to support two significant projects aligned with the recently completed Benham Neighborhood Regeneration Initiative.

City officials say together, these projects represent more than $110 million in total investment and will result in nearly 400 new housing units being constructed.

Mayor Rod Roberson said “Securing collaborative partners that align with our ASPIRE goals is critical to Elkhart’s continued growth and resilience. With the financial challenges we expect to face in the coming years due to Senate Enrolled Act 1—which will significantly impact our annual budget—these investors are more important now than ever. This $12 million investment will support new housing, retail, and quality-of-place amenities, benefiting every corner of our city. We remain focused on Elkhart’s growth strategy and thank the Lilly Endowment for its foresight and investment in our state and community.”

Officials say these two developments will reshape the South Main Street Corridor gateway into downtown and redevelop the Woodland Crossing Retail Center into a vibrant, walkable neighborhood featuring housing, retail, healthcare, and educational services.