A new 'Landmark' in Lockerbie

November 5, 2007
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Landmark of LockerbieA local developer hopes to break ground next month on an $11.5-million condo project along East Street between Ohio and New York streets. Landmark of Lockerbie would feature 16 loft units, eight flats and two townhomes, ranging from 1,200 square feet to 1,860 square feet. It's the latest condo development for locally based Axia Urban LLP, which also is building the Meridian at 21 condos and townhomes. Gary Levine, a partner with Axia, says downtown is the "place to be" despite sluggish sales of late. His company also is planning: Residences on Penn, which calls for 10 doubles between 16th and 22nd streets on Pennsylvania Street; and a live/work project at 22nd and Talbott streets. Units in the Lockerbie project will range from $350,000 to $595,000.
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  • There needs to be more 80k-120k condos.
  • I like the side townhouses, but the middle section isn't organized at all and just looks plain stupid.
  • Okay this is really lame! Somebody is using my old posting name on here (Erich R. H. IndiexInxIndy) and it is really starting to tick me off... On a brighter note, i dont mind this project yet i would prefer HIGHER density & LOWER prices. Ya know?
  • The stonework on it is nice too... As opposed to the over abundance of brick structures being built!
  • ERH...I suggest letting the IBJ know about your name being used. Every post requires an email address....I'm sure they could block it.

    Also, I like this project, but I have to agree that there could/should be more affordable options downtown. I understand the reality of this given the property value, and if they are all selling, great. It's just too bad that one of the demographic groups (younger college grads) most likely to invest in living downtown, don't have the opportunity because of price.
  • Denser and affordable is def the way to go. Lockerbie probably wouldn't allow though. One or more of these developers is going to get caught without a chair when the music stops (if it hasn't already). Seriously, how many race car drivers are left to buy condos!!??

    Mer@21 is a terribly slow project despite the rosy picture a salesperson might paint. They've been at it for 3 years and have probably sold 1 every 3 months or less! Wish I had their lender!
  • Anyone looking for cheaper condos downtown should take a look at H.Lauter Lofts.... A little bit off the beaten path, but great value and very well built condos. I think they are a little more than the $120K but very cool and unique development....
  • It kind of looks like a college dorm
  • It's hard to make money on new build condos downtown selling for 80-120. Mill No. 9 is about as cheap as you're going to get, and that was a conversion.

    I think we could use more high-density rental units, rather than inexpensive condos.

    The Barton Tower needs to come down on Mass Ave. Prime real estate for a major new mixed use development.
  • The 80-120k range may be unrealistic, but how about small 2 bedrooms in the 120-180 range? As a young professional myself, I would have been willing to invest in something affordable in order to own rather than rent, and I know I have spoken to several other young professionals who are in the same boat. Due to the lack of good schools (downtown doesn't even have good private schools), downtown doesn't appeal to families...so someone would be smart to appeal to the 23-30 yr olds who ARENT making 100k/year. All the current condos are catering to wealthy singles or young couples, or to the other extreme empty nesters, which will prove to be a limited crowd with the current overbuild in progress.
  • In terms of total units, there are probably more options in the works for lower-income young professionals than for the rich:

    Renovated condos:
    http://indydt.com/renflats.html
    http://indydt.com/shelton.html
    http://indydt.com/walsingham.html

    New Construction condos and townhomes:
    http://indydt.com/maxwell.html
    http://indydt.com/stmarys.html

    Single Family Homes:
    http://indydt.com/martindale.html

    Apartments:
    http://indydt.com/cosmo.html
    http://indydt.com/waverly.html
    http://indydt.com/paramount.html
  • I completely agree about the price points. I'm a professional and so is my boyfriend, but even our combined incomes are not enough for most of these condos. Many of my friends are professionals in their late 20's to mid 30's and I don't know that any of them could afford what they've been building downtown. I've long wondered who in the hell is buying these? Can we get some apartments at least? I lived downtown for 4 years in a tiny one bedroom apartment at Penn Arts, but had to move out due to lack of space (and wanting of something nicer) and I couldn't find any apartment that was larger that I could afford. This was 10 years ago, but I left downtown then, bought a house near SoBro, and now only work downtown. I would love to here again someday if it's ever in my budget!
  • Eventually there will be a lot of rentals when these
    projects fail. There is not enough demand for what is
    being proposed. Typical developer overbuilding - there
    egos are too big to believe that they will fail.
  • The person who is the most qualified about downtown condos is my realtor, Dave Piccolo, with CENTURY 21 Scheetz on the Avenue! His market niche is condominiums. He has and is representing several downtown developers. If anyone can advise you on a good condo purchase it is him! I refer him to everyone!!!!!!!

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  1. I never thought I'd see the day when a Republican Mayor would lead the charge in attempting to raise every tax we have to pay. Now it's income taxes and property taxes that Ballard wants to increase. And to pay for a pre-K program? Many studies have shown that pre-K offer no long-term educational benefits whatsoever. And Ballard is pitching it as a way of fighting crime? Who is he kidding? It's about government provided day care. It's a shame that we elected a Republican who has turned out to be a huge big spending, big taxing, big borrowing liberal Democrat.

  2. Why do we blame the unions? They did not create the 11 different school districts that are the root of the problem.

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  4. I'm sure Indiana is paradise for the wealthy and affluent, but what about the rest of us? Over the last 40 years, conservatives and the business elite have run this country (and state)into the ground. The pendulum will swing back as more moderate voters get tired of Reaganomics and regressive social policies. Add to that the wave of minority voters coming up in the next 10 to 15 years and things will get better. unfortunately we have to suffer through 10 more years of gerrymandered districts and dispropionate representation.

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