An Indianapolis-based developer has received approval to proceed with a large housing development to be built on nearly 90 acres in Avon.
Equicor Real Estate LLC’s plans call for 165 single-family homes to be constructed by CalAtlantic Homes of Indiana, as well as 98 senior apartments and 40 assisted-living units.
The project is an extension of the Reagan Park development at the northwest corner of East County Road 100N and Ronald Reagan Parkway.
The senior apartments will be built by Cleveland-based NRP Group and the assisted-living units by Los Angeles-based Prudential Real Estate Group. Both senior-living projects are expansions of their existing developments in Reagan Park, developed by Carmel-based Leo Brown Group LLC.
Equicor is the master developer of the 87-acre Hendricks County expansion.
“It’s just a great location,” Equicor CEO Greg Small said. “What we hear from the town of Avon is that they really need available housing. People want to live in Avon.”
Prices for CalAtlantic’s homes will range from $225,000 to $275,000, Small said. CalAtlantic likely will close on its parcel by the end of November and will immediately begin installing infrastructure, he said.•