City acquires historic Drake apartments building in $1M deal with museum
The Department of Metropolitan Development plans to convert the eight-story, 95-year-old building on North Meridian Street into affordable housing units.
Apartments
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Apartments, dance group headquarters planned for 42nd and College
In cooperation with city development officials, Midtown Indianapolis Inc. is making headway on a project to create low-cost apartments on both sides of 42nd Street, as well as retail space and a new home for Kids Dance Outreach.
Developer planning 252 apartments on west side of Carmel
The project proposed by Carmel-based REI Real Estate Services calls for 11 two- and three-story apartment buildings along North Michigan Road.
Indiana AG sues owner, manager of Indianapolis apartment complex
The complaint lists problems alleged by seven residents involving repairs that were never made, incorrect bills that caused financial hardship, and general difficulties in contacting and dealing with management.
Many Hoosiers aren’t making enough to afford rent, report finds
Being able to afford rent, according to the report, means spending no more than 30% of your income on housing. With fair market rent for a two-bedroom home at $988 per month, wages are just not keeping up.
Developer moving ahead with revised apartment plan for former school
Chicago-based William Management expects to spend at least $14 million to redevelop the former, century-old school building and build a second structure, with the buildings totaling 70 apartments.
Developer set to spend $51M on apartments, townhouses at Central State site
An Ohio-based firm plans to seek tax credits in its effort to develop dozens of apartments and townhouses on a seven-acre tract of land on the western edge of the Central State Hospital campus in Indianapolis.
TWG plans $17M revamp of Meridian Street apartment tower
The Indianapolis-based company expects to renovate all 96 units in the vacant Grand Meridian apartment building, as well as replace its windows, roofing and other building infrastructure.
Downtown gas station owner planning apartments, retail next door
The owner also wants the city to vacate its right to an alley between the properties, which he says has become a “safe haven for crime and inappropriate and lewd behavior.”
Developer breaks ground on 30-acre senior living community in Noblesville
Plans call for Promenade Trails to include 151 apartments and 59 for-rent cottages for people ages 55 and older. The first cottage residents are expected to begin moving in later this year.
Groundbreaking set for Broad Ripple mixed-use project
Known as Versa, the project will include more than 230 apartments, a 245-space parking garage, and 3,600 square feet of ground-floor retail space.
City takes next steps to redevelop troubled Towne & Terrace property
The first in a series of demolitions began at the 20-acre site near East 42nd Street and Post Road on Friday. Over the next year and a half, the city plans to acquire more than 150 parcels and relocate residents.
JC Hart plans 313-unit apartment project in busy north-side area
Called Allison Pointe, the project is designated for a 10.5-acre undeveloped parcel in a small commercial park along Allison Lake, a manmade body of water between 82nd Street and I-465.
Affordable housing firm T&H building $36M project on former Central State campus
The Plaza at Central Greens project will comprise five buildings, including three apartment structures with 117 units, an amenity center and a retail building.
Council committee OKs financing for affordable, workforce housing projects
Two projects—one in the International Marketplace and another on the north side of Indianapolis—have been approved for financing by the City-County Council’s Metropolitan and Economic Development Committee.
Developer looking to build 400-unit apartment complex in Whitestown
The Maddox would include 11 residential buildings on about 33 acres near the intersection of East Whitestown Parkway and Cardinal Lane in Whitestown.
IBJ Podcast: Are apartments the future of downtown Indianapolis?
Joining the podcast this week are apartment market specialist George Tikijian, real estate developer Eric Gershman and Deputy Mayor Scarlett Andrews.
Downtown, Fort Ben are fastest-growing areas for renters
The number of people renting in downtown’s 46204 ZIP code doubled to 5,500 from 2011 to 2020, according to a recent study from California-based market researcher RentCafe.
After a decade, Central@29 housing project appears on track
The $18.1 million, 56-unit project is planned for the southeast corner of Central and East 29th streets in Fall Creek.
Housing not-for-profits relocating to downtown Indy office building
The building was purchased from former occupant Girls Inc. by an affiliate of Merchants Bank for $3.1 million in May.