Apartments and Residential Real Estate and Urban development and Development/Redevelopment and Real Estate & Retail

Developer gets OK for second phase of apartment project

October 26, 2012

A West Lafayette developer has received final approval from the city of Indianapolis to begin construction on the $20 million second phase of a student housing project along Indiana Avenue near IUPUI.

Trinitas Ventures of West Lafayette plans to construct two five-story apartment buildings and a four-story parking garage on a surface parking lot at 1201 Indiana Avenue, between Montcalm and Milburn streets south of 14th Street.

The Metropolitan Development Commission’s Regional Center Hearing Examiner on Thursday approved vacating of an alley between Montcalm and Milburn streets, allowing Trinitas to proceed with the project.

Trinitas plans to break ground next spring and should be finished by fall of 2014, said Travis Vencel, director of site acquisition and planning.

Plans call for the project to be developed on two parcels. One would include about 7,000 square feet of first-floor retail space along Indiana Avenue with 99 residential units along Montcalm Street.

The other parcel would include 115 apartments connected to the four-story garage.

The second phase would include a total of 214 apartments in addition to the 253 Trinitas already has on the seven-acre site.

It completed a four-story building in August 2011 that is fully occupied, Vencel said.

“We’re very pleased with the performance,” he said.

Indianapolis-based CSO Architects Inc. designed the latest phase of the project. Dallas-based Humphreys & Partners designed the first.
 

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