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Fact Check: The Onyx +East development is within the Keystone-Monon neighborhood boundaries (East side of the Monon, to West side of Keystone, North to South side of 54th, and South to the Indiana State Fairgrounds entrance). The neighborhood is re-establishing its identity in Indianapolis; and it will be wonderful when everyone knows this.
Thanks!
If the map is correct, then you are as well. As you note, M-K is only on the west side of the Monon. Unrelated, it is similar to when people call the west side of North Meridian Street as Meridian-Kessler when it is Butler-Tarkington.
Are there any concerns about pollution in the ground there? It’s a former lumber yard and had access to the Monon Railroad. Sometimes there is some residual environmental contamination in industrial sites.
Exciting growth opportunity for the neighborhood.
Mary, I would assume that the company has conducted (or will conduct after approval) a Phase I (and if necessary, a Phase II) environmental site assessment. If not, any lender involved with the project will require this. The Indiana Department of Environmental Management database will display any historical findings with the property. https://vfc.idem.in.gov/FacilitySearch.aspx
More cheaply built townhomes/apartments. Is this what this area really needs?
Yeah, it does. Density and affordability are key tenants of what the area needs.
tenets*. freudian slip
The fact that you think onyx and East builds affordable, in the conventional sense, is hilarious band naive. Their product is only affordable in the sense that someone can afford it.
Having recently built an Onyx and East townhome, I can attest they are anything but cheaply built. They deliver a good product at a fair price.
That might just be the reason they have so many communities in the works.
I find it confounding when new developments are announced in Indianapolis. If they are rental apartment building, they are deemed “cheap” and “ugly.” If they are condominiums, they are “not affordable.” Everyone is a critic, yet none of the critics have the finances or guts to risk their own money to do what developers do.
Onyx and East only does cheap, ugly and higher priced development. Equating rentals with those qualities is laughable. Perhaps asserting those characteristics is based on the developers use of language used in grant applications and testimony before the MDC. Perhaps you know less about development and who participated in it than you think. Your ignorance confounds me.
Murray R. – So why not put YOUR money and guys where your mouth is and develop a major property yourself. I’m guessing you don’t have what it takes. As I said, everyone is a critic. You proved my point.
You don’t really have a point that you’re making – other than you’re some kind of fly by nighter shill. Again, your assumptions of what I do with my investments are laughable and off the mark. But the ad hominems are a lovely declaration that you’re a small membered, feeble minded fellow.
It would be a more helpful public service if the IBJ wrote about these projects that require a public hearing more than a day in advance of said hearing. Maybe the IBJ could sign up to get the legal notices that get mailed out 23 days before public hearings. It would also be helpful if a site plan were included.
$400K? Not a bad price…. said no one ever.
To qualify for a mortgage (after a down payment of $80,000) requires an annual income of $107,000. There are plenty of young single professionals in Indianapolis who make that kind of money or more. And there are even more two-couple income households that easily meet that threshhold.
Brent, how many young professionals, or even people who have been working for a while, can afford an $80k down payment? Only 20% of Marion County households make $100k or more. Single person households within that group would be even smaller.
Any development towards housing is always a good thing.I really don’t see the issue that many people have with this particular project.i personally would like to see more sophisticated and modern high rises.
Kevin P. – The desire for more “sophisticated” and “hi-rise” condos and apartments comes at a much higher price due to material costs and fire standards. A four story building can be constructed entirely of wood framing and siding, whereas anything taller requires steel and more fire-rated materials that allow occupants time to evacuate the building. When it comes to fulfilling the need for additional “affordable” housing, the cost of building hi-rises makes that goal much more difficult.
High 200’s to low 400s will be hot product in that area. Cool project and a great way to update a tired stretch of the Monon.
Also, this location is just inside the priority map for CFI 70, meaning these will be some of the cheapest houses with priority to that school. Interesting selling point for the builder.
I wonder if this was approved or modified or denied or continued yesterday at the MDC hearing. I think the 96th & Meridian redevelopment proposal was on the docket as well. What happened to the IBJ Property Lines blog that previously provided more coverage of these type of items?