The City of Hammond announced a $22.5 million investment in the comprehensive renovation of Renaissance Towers & Apartments.
The planned rehabilitation will cover the entire affordable housing community. It will include two senior towers and 12 family buildings, totaling 450 units. The average investment per apartment is about $50,000.
Construction is expected to take 18 months after it begins. During the redevelopment and construction, disruption to residents will be minimized as the developer is committed to completing individual units in as little as a week’s time.
The redevelopment will be led by Renaissance Preservation and their preservation division Sena Affordable Communities. The developer has applied for tax credits through the Indiana Housing and Community Development Authority. The City of Hammond provided a letter of support for the application. Renaissance Preservation anticipates closing on the transaction by March 2026.
“Sena Affordable Communities, in collaboration with the City of Hammond, is proud to invest more than $26 million in the transformative renovation of Renaissance Towers Apartments for the families and seniors that call it home,” said Sophie Cohen, parent company L+M Development senior associate, in a press release. “This project is set to deliver modern, comfortable and energy efficient apartments and shared spaces, with comprehensive infrastructure and facade upgrades that will shore up the community for decades to come.”
Mayor Thomas McDermott Jr. commended the developer’s commitment to Hammond.
“Sena Affordable Communities and the L+M team have been excellent partners—professional, responsive and committed to long-term community investment,” McDermott said. “This major renovation will not only modernize Hammond’s largest affordable housing community but also strengthen the city’s ongoing efforts to improve living conditions for our residents.”
Sena Affordable Communities is exploring additional opportunities to invest in and update other residential complexes in Hammond.
