Downtown apartment complex to expand

September 1, 2009
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The developer of The Waverley apartments downtown has filed plans to expand the complex at 151 S. East St., IBJ's Tom Harton reports in today's Real Estate Weekly. Carmel-based J.C. Hart Co. Inc. wants to add 48 one-bedroom units to the 164-unit complex. Out of 86 existing one-bedroom units, only one is vacant. The four-story expansion would feature apartments with balconies overlooking East Street on the second, third and fourth floors. A 41-space parking garage would occupy the first level. A small surface parking lot shielded from the street would provide enough extra spaces to accommodate all 48 apartments. When Hart won its original approvals for The Waverley from the city in 2006, the vacant land the company now wants to build on was earmarked for three separate buildings for townhomes and ground-level retail space. But J.C. Hart found little interest for the commercial space. The company hopes to start construction as soon as next spring. The full story is here.

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  • It's hard to believe there's no interest in retail space when there's a captive audience of at least 164 residents in that apartment complex alone. Not to mention the surrounding neighborhood or the large adjacent Farm Bureau and Anthem office buildings.

    For instance, one could open a tobacco shop and do quite well. I pass dozens of smokers from both campuses daily. ;-)
    • What is the use of writing comments when they just disappear later in the day? Whats going on with this new system???
    • All I can tell you is what they're telling me: We're working on it.
    • This is good to hear and I am actually please that they have scrapped the retail portion. Fletcher Place is literally a stones throw from here and having new retail so close would hurt, not help, that strtch of College
    • Monolithic, low-rise apartment complexes aren't particularly urban, especially this one, with its pitched roofs and Hardiplank siding. It's great to see an increase in the rental base downtown, though... I just wish the site could be developed with a better sense of its urban context.
    • Monolithic, low-rise apartment complexes aren't particularly urban, especially this one, with its pitched roofs and Hardiplank siding. It's great to see an increase in the rental base downtown, though... I just wish the site could be developed with a better sense of its urban context.
    • Monolithic, low-rise apartment complexes aren't particularly urban, especially this one, with its pitched roofs and Hardiplank siding. It's great to see an increase in the rental base downtown, though... I just wish the site could be developed with a better sense of its urban context.
    • At least the surface parking won't front East Street.

      I wish they would still do the first floor retail and just build two or 3 floors of residential above it. This would be a great spot for all the Insurance company employees to grab lunch or coffee if there were retail.

      It still kills me how suburban this project is..
    • No retail on the bottom floor seems to be the Indianapolis way...where do these people get their info that there would be little interest in commercial space. I use to work at Anthem and would have gone out there more than a few times a week on my short 1/2 lunch just to get out of the building. This is the freaking downtown already and a lot of us live here and would happily visit a retail establishment in that area. So much narrow minded thinking...bah!
    • Not building multi-use / retail on the street level is simply short sighted.
    • First floor parking along East Street. No pedestrian door along East Street. Surface parking along East Street also. More hardi-plank siding downtown. Two new curb cuts along East Street with cars blocking the sidewalk waiting for the gates to open. Expansion of a suburban-type apartment compounded surrounded by tall fences and gates. Elimination of a (probably illegal) gravel parking lot. Elimination of previously approved plan for presumably one-story, single-user commercial building. So, how does that balance out?
    • Financing difficulties
      when a housing project contains commercial space it no longer qualifies for Federal funding or state of Indiana Housing Authority financing and also can be disqualified from fed income tax credits

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    1. why oh why does this state continue to elect these people....do you wonder how much was graft out of the 3.8 billion?

    2. i too think this is a great idea. I think the vision and need is there as well. But also agree with Wendy that there may be better location in our city to fulfill this vision and help grow the sports of hockey and figure skating in Indy. Also to help further develop other parts of the city that seem often forgotten. Any of the other 6 townships out side of the three northernmost could benefit greatly from a facility and a vision like this. For a vision that sounds philanthropic, the location is appears more about the money. Would really like to see it elsewhere, but still wish the development the best of luck, as we can always use more ice in the city. As for the Ice growth when they return, if schedules can be coordinated with the Fuel, what could be better than to have high level hockey available to go see every weekend of the season? Good luck with the development and the return of the Ice.

    3. How many parking spaces do they have at Ironworks? Will residents have reserved spaces or will they have to troll for a space among the people that are there at Ruth Chris & Sangiovese?

    4. You do not get speeding ticket first time you speed and this is not first time Mr.Page has speed. One act should not define a man and this one act won't. He got off with a slap on the wrist. I agree with judge no person was injured by his actions. The state was robbed of money by paying too much rent for a building and that money could have been used for social services. The Page family maybe "generous" with their money but for most part all of it is dirty money that he obtained for sources that are not on the upright. Page is the kind of lawyer that gives lawyers a bad name. He paid off this judge like he has many other tine and walked away. Does he still have his license. I believe so. Hire him to get you confiscated drug money back. He will. It will cost you.

    5. I remain amazed at the level of expertise of the average Internet Television Executive. Obviously they have all the answers and know the business inside and out.

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