GOSHEN, Ind. - The Goshen Board of School Trustees passed a resolution on Monday approving the development of a residential housing program near Prairie View Elementary School.

The proposed development, "Cherry Creek", is the work of the Goshen Redevelopment Commission.

Original plans were presented to the public in December in their beginning stages awaiting input from community stakeholders, including the city, school district, and neighbors of the development.

Cherry Creek is expected to feature apartments, single family homes, condos, and townhouses, as well as a community pool, restaurants and coffee shops, and small retail establishments, according to reports.

The development will also include new sidewalks that lead to Prairie View Elementary and do not cross any streets, said Tonya Detweiler, one of Cherry Creek's developments.

Cherry Creek is expected to house about 1,400 residential units.

Developers believe Cherry Creek will bring in hundreds more students to Goshen Community Schools and $6,500 in annual state tuition per student.

The area was previously established as an economic development area for the city. A Declaratory Resolution amended the plan to include a residential housing development, using Residential Tax Increment Financing.

The Residential TIF is one way to fund a project. Cities can also TIF as an incentive to develop extensive and costly areas that benefit the community.

The approval of the Residential TIF will not add a new tax on city residents, reports said.