Property Lines

Welcome to Property Lines, Indy's source for neighborhood real estate news. Your host is Scott Olson, IBJ's real estate beat reporter. Founded by Cory Schouten.
Real Estate & Retail

Ripple redevelopment, take two

May 1, 2008
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Monon PlaceA local firm has a new plan for redeveloping a 14-acre site in Broad Ripple. The $15-million Monon Place project calls for 150 new apartments, a clubhouse and pool and about 12,500 square feet of retail space. The property, which sits just east of the Monon Trail between Kessler Boulevard and 61st Street, includes the 136-unit Monon Place apartments and an 18,000-square-foot commercial building anchored by McNamara Florist. The plan calls for an overhaul of the existing apartments and demolition of the existing commercial building. It would be replaced by nine apartment buildings and two mixed-use structures along 61st Street. Potential retail tenants include McNamara and a new concept from Cafe Patachou. Buckingham Cos. bought the property in 2000 and proposed a larger project with 36,000 square feet of retail space, but a rezoning request failed in 2002 after neighbors expressed concerns about traffic and compatibility. A hearing on the new proposal is set for May 7.
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