KNOX COUNTY, Ind. (WAWV/WTWO) – The Indiana First READI Region has recognized a critical need for additional housing in various counties throughout southern Indiana.

The Indiana First READI Region received a READI grant award for the “Talent’s Hometown” program, which will go to support initiatives for public infrastructure projects, as well as additional development opportunities for residential builders.

According to Indiana First Vice Chairman Chris Pfaff said approximately 400 new homes are being planned across southwest Indiana.

Indiana First Committee Member Darrell Voelker said the intent is to expand the number of quality homes in the area.

“The shortage of quality, affordable housing in our region is among the greatest challenges to economic growth,” Voelker said. “The Indiana First region intends to maximize our efforts to address these gaps.”

Once the initial round of READI funding is completed, the Indiana First region anticipates an increase of more than 205 single family homes, and at least 85 multi-family residential units across the five-county area. The READI funding is awarded by the Indiana Economic Development Corporation,

These new residential developments across Harrison, Knox, Perry, Pike, and Spencer Counties are through $7.1 million in READI grants.

Additional projects from the Indiana First Regional Plan are currently under consideration for future funds. Approvals are expected to be announced in the upcoming weeks.