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

Update: Monon Place approved

June 4, 2008

Monon PlaceThe Metropolitan Development Commission approved a $15-million Broad Ripple redevelopment project by a 9-0 vote this afternoon, disagreeing with a handful of vocal remonstrators. In siding with the developer, Buckingham Cos., commissioners said the city should be encouraging projects that add density to the tax base. The Monon Place project calls for 150 new apartments, a clubhouse and pool and about 12,500 square feet of retail space on 14 acres just east of the Monon Trail between Kessler Boulevard and 61st Street. The property includes the 136-unit Monon Place apartments and an 18,000-square-foot commercial building anchored by McNamara Florist. More on the proposal is here. Buckingham first applied to rezone the property in 2002 but lost after neighbors expressed concerns about traffic and compatibility. A neighborhood group raised similar concerns this time around.
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