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Revenue growth FY 2020 to 2022: 230%
2022 revenue: $65.18 million
They’re back: CEO Kelli Lawrence credits Onyx + East’s back-to-back appearances in the Fast 25 to “having an inspired and committed team that’s focused on finding innovative housing solutions and taking risks to find opportunities in the market.” The land developer and homebuilder has developed new products and possibilities, including homes for sale and for rent, and expanded into new markets and submarkets (Cincinnati and Columbus, Ohio, last year).
Meeting needs: Onyx + East grew from an Indianapolis urban-centric business model where it built new for-sale housing among all the apartment developments. “We’re looking for where the needs of consumers aren’t being met in terms of what housing options are available,” Lawrence said. “We’re passionate about housing and what housing can do for people.”
Downtown: Onyx + East will have a grand opening this summer for Fulton, a brownstone community in downtown Indianapolis just south of Bottleworks in Chatham Arch. The housing features fourth floor living-room terraces with unobstructed downtown views. Also under construction is Nouveau in the Old Northside neighborhood, featuring several townhome floor plans with rooftop decks, a courtyard and garden patios.
In the works: In downtown Carmel, Onyx + East’s Mélange project will be finished later this year. The project provides brownstone-style construction as well as some condo flats. The company also has an ongoing project in Carmel in the Village of West Clay and will be breaking ground on another this summer in the Spring Mill Road corridor. It’s also building in Noblesville—a new market—and Tampa, Florida, and will be breaking ground in Cincinnati this year.
In demand: Despite interest rates rising and the price of building materials fluctuating, Lawrence said Onyx + East saw a strong demand for housing in the first quarter of 2023. “We’re excited about the product we’re offering and the response we’re seeing from customers at all price points and different housing types,” Lawrence said. “We believe there is a housing need, and we’re seeing that in all aspects of our business.”•
Check out more of IBJ’s ranking of Indy’s fastest-growing companies.
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This is a despicable company. They bought the lot next to me and destroyed my property. No communication before, during, or after. They have made no attempt to repair the damages done. Onyx East has brought my property value down considerably from the damages. Also, the homes they have built in my neighborhood sit unsold as they are low quality and undesirable. If you care about your money and your property please stay clear of this company. Onyx East is just out to make a quick buck and leave you suffering.