Apartments and Mixed-Use and Residential Real Estate and Development/Redevelopment and Real Estate & Retail

Groundbreaking nears for $4.5M apartment project

August 30, 2010

Construction is scheduled to begin soon on a $4.5 million apartment community near 22nd Street and the Monon Trail.

The 62-unit project called National Apartments on the Monon is the latest phase of the Martindale on the Monon redevelopment project, which began in 2005. The developer is Indianapolis-based Development Concepts Inc.

The apartment development site is part of a 46-acre expanse of brownfield properties DCI plans to transform into the National Design District, named for the former headquarters of the National Motor Vehicle Co.

The Project School, a charter school, opened in 2008. The developers also hope to draw retail, office and light industrial users to other parts of the property.

The apartment proposal calls for more than 62,000 square feet of space spread over two four-story buildings, on parcels at 2105 and 2115 Yandes St., according to a state filing. About 90 percent of the units will be classified as low-income housing.

Ground breaking is tentatively scheduled for early October with an opening target of summer 2011, said Matt Johnson, a project manager for Garcia Construction Group, the project's construction manager.

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