Nonprofit group plans renovation of 2 vacant apartment buildings

March 30, 2011
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Meridian Mark IndianapolisA nonprofit group is partnering with a locally based developer to renovate two vacant apartment buildings near Meridian and 38th streets into affordable and supportive housing.

The $7 million project, dubbed The Enclave at Meridian, involves the 7-story Meridian Mark (3777 N. Meridian St., built in 1928, shown at right) and the 3-story Schuylar (3761 N. Meridian St., built in 1918), along with a small duplex next door that will be torn down for parking. Plans call for 75 studio to two-bedroom units, along with exercise and community rooms. Both buildings will get a complete interior renovation. Construction is set to begin in early May.

The Bethlehem House is set to receive $8 million in federal tax credits for the project over 10 years, and KeyBank has agreed to provide a $5.7 million construction loan, the group said.

Bethlehem House, which provides serves for people affected by substance abuse and HIV, will own the buildings, while Indianapolis-based Herman & Kittle Properties will serve as general contractor and property manager. Bethlehem paid about $1.2 million for the properties.

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  • Good
    MarkApril 1, 2011 12:09 PM
    Always good to see the preservation/re-use of existing structures, particularly in the Indianapolis downtown/near-downtown areas.
    Reply to CommentFlag Comment
  • Research calms concerns
    KDMApril 4, 2011 1:27 PM
    http://www.thebethlehemhouse.org/about will tell you more about the organization. I am with Mark- better to use existing structures...even better to do it in the name of helping others.
    Reply to CommentFlag Comment
  • Seriously?
    MarkApril 5, 2011 11:00 AM
    Frank & Juan - You people disgust me.
    Reply to CommentFlag Comment
  • Remove my last post
    MarkApril 6, 2011 9:38 AM
    Cory, thank you for removing the previous (awful) comments. You can remove my "Seriously?" comment, as well.
    Thanks.
    Reply to CommentFlag Comment
  • develop for residents
    UrbanManApril 6, 2011 7:34 PM
    we want people to live in the city, work in the city, spend their money in the city.

    take 4 mil and build a grocery store.
    Reply to CommentFlag Comment
  • wonderful
    Great!April 7, 2011 10:52 AM
    This is great, Indianapolis has a wonderful stock of 19th and early 20th century apartment buildings that should be reused and restored whenever possible.

    Big thumbs up for this project! I hope to see more in the future!
    Reply to CommentFlag Comment

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