305 condos replacing apartments

May 14, 2007
Back to TopCommentsE-mailPrintBookmark and Share
Renaissance BayA $150-million luxury condo development known as Renaissance Bay will replace an apartment complex along Keystone Avenue at 78th Street. All that remains of The Landings apartments are massive piles of concrete and bricks. Construction is set to begin in July on the replacement, a development of 305 condos ranging in price from $350,000 to $800,000. The project, by Sun Shiel Properties LLC, will feature buildings as tall as five stories inspired by the architecture of South Carolina. The structures will surround a large lake that connects to the White River. More images here.
  • This looks great, but at what point does the $270,000 condo market hit saturation in this market? Why am I paying 800K to live on Keystone when I can buy a palace downtown for that? I forsee a huge collapse in the condo market. Property Lines, a Hershey's mini chocolate bar for your thoughts?
  • I think there will definately be people who will pay 800K to live in that area, with proximity to the Fashion Mall/Keystone Crossing, 86th Street and even Carmel.
  • Another note: I'm glad to see high density projects popping up in other areas of the city besides downtown. It's what the city needs.
  • That's certainly a market for posh condos in that area, but $800k seems a little ridiculous. High-priced extras -- hardwood floors, granite counter tops, etc. -- can only push the price so high. Condos go for this price in downtown because the underlying land is so valuable. The land cost in this area certainly doesn't approach downtown. And if the square footage of the condo goes high enough, wouldn't most people rather just buy a house? Like Kevin said, $800k buys you a VERY large house in downtown. In that area, it buys you a mansion.
  • For $775,000, you can have 5,000-plus square feet in Oxbow. And that's just one example.

    Methinks they're really reaching on this one.

    Ooooh, great, I can pay a bunch of money to live off traffic-laden Keystone just a stone's throw away from Wal-Mart and a couple of strip centers. But hey, there's a retention pond. Who doesn't love a retention pond?

  • Forget Fashion Mall, Keystone at the Crossing, 86th St., and esp. Carmel, you're mere seconds away from Wal-Mart and a Starbucks! Any chance they construct a walking trail to Wal-Mart?

    For me, I wouldn't pay $800k for a unit when you can't safely and easily make a left-hand turn onto Keystone, not that anyone will.
  • the naysayers are missing the point...this is a beautiful project with high density. high density is what this city needs. ever stop to think that with a high-end project like this comes other high-end projects? there is already class-a office space being developed along 465 in addition to what is already built. maybe this development will spur re-development of walmart, etc. and since when is living near a starbucks a bad thing? yes, it's a chain, but a very nice one. this area is unfortunately stuck in the 1970's and hopefully this will be the first of many new developments.
  • ryan -- I think you misunderstand (or at least misunderstand ME). I'm not naysaying their design, their density or their high-end aspirations. I just question how they're going to make an $800k condo. The $800k condos in downtown are, for example, large condos on Mass Ave with views of the skyline and high-end styling. These condos may be large and they may have high-end styling, but they're on an expressway (Keystone) with a view of a retention pond as Wags put it. These aren't exactly one-of-a-kind characteristics like living on Mass Ave or having a skyline view.

    I do wish the developers good luck in finding buyers for their high-end condos because I think this is a wonderful project for the area.
  • $350,000 to $800,000?! Did they forget this is Indianapolis?
  • Uhm... I think this is GREAT! I mean seriously to think they could've built in Carmel or Fishers instead (which would've been dumb) all i'm sayin is i am so SO happy that they are actually redeveloping this! Just like the Belle Meade revdevelopment @ 96th & Ditch! This can only be a good thing for Indianapolis & the greater Northside! ;-) So i am quite happy these developers are doing this.
  • Having just moved just accross the river at Sandy Pointe, I couldn't be happier. This property development probably added $100k to my value.
    Everone is forgetting the emty nesters. I'm one and love the lifestle in this area. That's who will be paying 800K for a latge condo with water view. Also, the lake is really a cove connected to the White River. Great boating and bass fishing.
  • Hi Jim. Photos i received. Thanks
  • No Way.
    I live in Crystal Lake and I can almost hit the Keystone Mall with a Golf Ball and we have single family homes on water and they have been building them for years.

    No way they will fill one unit. Let alone 300 - only if they want to keep building for 25 years. And who wants to live in that mess....
  • Thank you for sharing!

Post a comment to this blog

We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
You are legally responsible for what you post and your anonymity is not guaranteed.
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
  1. Good Day I am Mr (Victoria Wright) from United state of America, i stayed in NEW YORK, and i have a broke up business, until i found this company email who help me to gain a loan for business,, and now i want to used this short medium to congratulate the below company for the fast and safe money they loan to me without any form of collateral, i loan 500,000USD from the company to save my business and lots more, i saw their mail on the internet, everyone always give testimony for what they did, so i quickly contacted them and they all did everything for me without stress and my money was sent to my account just 3 days later, i was surprise and i feel so glad, now i have a standard business control agent who help me, now i will advice those who need urgent loan to contact him at the bellow email:zenithfirm12@gmail.com

  2. NOTICE:This is to inform the general public that Vampires are real. My name is James Franklyn.,am an agent of vampire,am here to introduce our new world trend to you,a world of vampire where life get easier,we have made so many persons vampires and have turned them rich,you will be assured long life and prosperity,you shall be made to be very sensitive to mental alertness,stronger and also very fast,you will not be restricted to walking at night only even at the very middle of broad day light you will be made to walk.In case you are wildly oppressed by some unscrupulous persons we can still help you fight them.Your protection is assured immediately you join.Just contact the bellow email if you are interested we are here to attend to you anytime you want us. Contact the bellow email for more details. Email:vampirescreed@hotmail.com Sincerely: James Franklyn.

  3. Bravo! Someone else that is willing to speak the truth! Bravo!_____NBCSN is available in almost 2 MILLION more homes than just a few years ago, but Indycar STILL gets less total viewers than it did just a few years ago when NBC took over Versus. Attendance and ratings cratered with the end of season races (just when the title battle got "interesting" HAH!__________And now...new race in Basilia, where Miles celebrated the "rich history" of Indycar racing there. Rich history? What, 7 events in the 100 years of AOW? Yep, some history. Well, at least its an oval. It's not??? Are you kidding me??? Gosh darn road racin furriners.

  4. PURITY RAY LOAN OFFER........ Have you been denied by your banks,or are you in need of of an urgent loan to pay of your bills we are capable of giving loans @ cheaper rate to interested individuals, student, companies and members of the public in need of finance to settle bills, we do offer considerable loans which you can count on. For more information on our various types of loan,then you will have to contact PURITY RAY LOAN FIRM, to help you achieve your desire LOAN APPLICATION FORM TO BE FILLED BORROWERS INFORMATION * Full name:………………………. * SEX * ……………………………. * Country………………………….. * State:……………………………. * Land:…………………………….. * Occupation:…………………….. * phone number:…………………. * Telephone: ………………………….. * Age:………………………………. * Amount needed as loan:……… * Loan Duration:………………….. * Propose of Loan:……………….. * Annual revenue:………………… * Monthly Income:……………….. * Guarantee:………………………. * Payment: monthly or annually Email.....purityrayloanfirm@gmail.com Thank you and God bless Mr Purity Ray PURITY RAY LOAN FIRM we tend to serve you better

  5. Problem: most of the people responding to this article don't know about this service AT ALL! Why? Lack of awareness. This isn't IndyGo. This is CIRTA: might as well be the mattress company because they are asleep at the wheel - something like 3 directors over the last year? Playing with federal grant money is great! This "region" wants commuter rail service, has spent MILLIONS on Transportation studies yet can't even support a commuter bus line? This is largely for suburban riders to get to downtown - not for "service people to work in our hotels and restaurants" ! Get your head out of your backside!! These are professionals, students etc. that don't want to fight traffic, save some money on parking, gas, stress.... if CIRTA would put their federal money into widely promoting the sevive to Greenwood, Fishers & Carmel instead of finding directors and studies - this would be a successful service. Our family uses(d) it daily for the last several years - but the recent uncertainty & now unreliability due to cuts from Carmel has been a problem. Now, costs us an additional $350/month for gas & parking ( $4200/year) plus vehicle wear, service, environmental impact ... YES - this REGION needs this this type of service in order to keep growing and getting the people it needs to fill skilled positions in downtown Indianapolis. Think outside of your own car !!!