The Mansion on Main

The Mansion on Main is a historic preservation and adaptive reuse project in the historic mansion row district in revitalized downtown New Albany, IN. Once an M. Fine and Sons shirt factory, the building has been renovated into 108 “historic and modern” assisted living apartments with a wide variety of amenities and support services for senior residents. A significant portion of tenants are Medicaid users.

The extensive renovation of this once blighted industrial structure involved restoring all of the original industrial windows, which included 7,310 individual panes of glass. The property features a variety of floor plans, while amenities include: a dining room, library, chapel, game room, theatre room, fitness center, yoga studio, beauty salon, and walking park and gazebo, among others.

The project was developed by Denton Floyd Real Estate Group out of Louisville, KY. The facility is operated by Vitality Healthcare Services, LLC. HOPE provided a $1.7 million equity/bridge loan and $6 million of the $11.4 million construction/mini-perm loan. The total project development cost was approximately $16 million. The project received both federal and state historic tax credits and was recognized with notable awards, including the New Albany Historic Preservation Facelift Award and the Indiana Historic Preservation Award for an outstanding rehabilitation tax credit project.