It was nearly one year ago when the Fishers City Council, on a 5-4 vote, approved a rezone for the Cumberland Cottages housing project.  With HAND, the Noblesville-based nonprofit group building the homes, facing higher costs than projected, it is now expected that 5 of the 11 cottage-style units will be market-rate rather than affordable housing based on income guidelines.

HAND executive Director Andrea Davis points to the high cost of land, the addition of garages and the continuing rise in construction costs as reasons for the change.

Per Ms. Davis, of the 11 planned cottages, 5 must be market rate “because we have to show that revenue from the development will be sufficient to pay its expenses during the full 20-year affordability period.”

Cumberland Cottages is to be located on a currently vacant plot of land just south of 141st Street near Cumberland Road.