Just 30 miles from Indianapolis, The Retreat at Mineral Springs is the adaptive reuse of a historic two-story sheriff’s residence and county jail, a historic three-story sanitarium (mineral springs spa) and the three-story former Kivett’s Five & Dime building located in a pedestrian-friendly area of Martinsville, Indiana. The property is restricted to residents earning up to 60% of the area median income (AMI) and includes one studio unit, 21 one-bedroom units, and 16 two-bedroom units.

R4 Capital raised the equity investment with federal 9% tax credits.