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Interesting.
I’ve said it before and I’ll say it again, in 15 years the 38th and College area will be the new Irvington/Bates-Hendricks up-and-coming spot especially after they get the Purple Line in there. Invest now.
The Red Line already goes past 38th and College and this property.
Purple won’t make any difference here; its impact will start further east (towards the State Fairgrounds and Fall Creek) and extend clear out to Post Rd.
Nap is about to growing that’s good but it’s a big demand and you must build taller and more!!! Every side of the county!!
Bought for $58k per unit – cheap.
It’s class B or C…and they’re still getting $1.35/sqft/month. I agree that’s cheap.
A positive sign. Given that high(er) rise apartment/condo projects a few in Indy in comparison to peer cities such as Columbus or Kansas City. However, both peer cities have done a better job of preserving central city structures, maintaining central city infrastructure, and focusing more attention to preserving, maintaining, and improving central city residential options for a wider range of incomes. While the Indianapolis model has been more slash/demolish/reconstruct than preserve/maintain/improve, there is still a great opportunity to enhance the Meridian corridor. A strong mixed-us office and residential spine should be centered along Meridian from downtown to 38th St. This should include mid and some higher rise structures but along pocket parklets/open space.