The plan by Homestead Development consists of two components. The first would be a single apartment building for individuals age 55 or older. The other would be an eight-building complex containing market-rate apartments.
The burden of rising rents falls heaviest on younger households, as well as on Black and Hispanic families, further exacerbating long-simmering inequalities.
The Wulsin Building at 222 E. Ohio St. is expected to be acquired by an investment group later this spring. The buyers plan to spend up to $6 million to convert the eight-story structure to market-rate apartments.
The landlords are many months and more than $2 million behind on utility bills, putting more than a thousand households at risk of homelessness should Citizens Energy Group cut utility services to the complexes.
The lawsuit also alleges that the owners of the complexes defrauded both Citizens Energy Group and residents by collecting payments that the owners said would go to utilities—but didn’t.
Indianapolis-based Birge & Held envisions a 160-unit apartment community for seniors of limited means on roughly 3.3 acres at 1621 W. 86th St.
Opponents say the size and scope of the proposed complex, which would replace the Willows Event Center, don’t jibe with the rest of the neighborhood.
The 1,261-unit complex on nearly 90 acres at Shadeland Avenue and 75th Street was purchased March 31 by Cleveland firm Pepper Pike Capital Partners.
A six-story, $65 million, multifamily planned redevelopment of the former Kroger store in the heart of Broad Ripple is the latest in a series of substantial projects.
The acquisition by Indianapolis-based Zidan Management Co. is believed to be the largest single-property apartment sale in Indiana history.
The project at the site of a former Kroger store is expected to consist of about 234 apartment units, a 240-space parking garage and 3,600 square feet of street-level restaurant space.
To be named Hall Place Apartments, the 308-unit project would occupy about two acres just south of 18th Street and west of Illinois Street.
The site of a one-story, nondescript building in Fountain Square used sparingly for local White Castle operations soon could house a five-story building with nearly 200 apartments and six street-level storefronts.
The dilapidated Lakeside Pointe at Nora and Fox Club apartment complexes in Indianapolis could see major improvements soon, Indiana Attorney General Todd Rokita announced Thursday.
Five days after announcing a deal with Citizens Energy Group to restore water service to tenants at two south-side Indianapolis apartment complexes, officials said they’re planning to get the city’s money back, but a lack of communication with the properties’ owners could complicate matters.
In the 50 largest U.S. metro areas, median rent rose an astounding 19.3% from December 2020 to December 2021, according to a Realtor.com analysis of properties with two or fewer bedrooms. Indianapolis-area rents have seen a smaller, but still significant, jump.
Percolating under the radar for two years, the first phase of Hobbs Station is expected to feature 300 apartments, 99 single-family homes and 500,000 square feet of logistics space.
In Indianapolis, rents increased 9% last year, to $1,280 per month. But in some cities, rent jumped by more than 40%.
To help support blue-collar workers, Meadows on Main will be income-restricted and serve individuals and families generally making 40% to 70% of the area’s median income.
TWG Development LLC is in discussions with city zoning and planning officials for the 125-unit project, which would be developed on the east side of the road in the 1800 block of North Meridian Street.
