Annex Group planning $70M apartment project near Indianapolis Zoo

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23 Comments

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    1. Agreed! But I hope they improve on the design. The current sketchup is hideous (and I know that sketchup renderings don’t tell us much…but still). I’m hoping that DMD can convince them to add some ground floor commercial as well. There needs to be active uses facing the river.

    2. A.R.
      + 1
      Commercial space is badly needed.
      There is literally no commercial space between Washington Street and 16th street along White River PWKY except for a small liquor store at Michigan & White River Parkway.

    1. They are the typical apartments that are popping up all over the city. They could have been the even more typical with 4 over 1 construction. These guys seemed to have at least looked around the neighborhood and realized that 3 and 4 story buildings will fit better into the neighborhood, rather than 5 story buildings.

    2. These are not unique to Indianapolis, or its suburbs. Look at mid-rise apartment buildings in Columbus OH, Kansas City MO, Louisville KY, Pittsburg PA, Milwaukee WI, Minneapolis MN…these are this era’s architecture in America.

  1. I see the locals have finally given in to gentrification. They fought it with every effort for a few decades. Annex must have convinced them all that the market rate money is all they’ll ever get. 35 parcels is quite a feat for Annex.
    Too bad it’s only low income housing, what a view potential some mid to high rise market rate units could have had.

    1. Gentrification implies that the new construction would make it unaffordable to the families already living in the area. This is supposed to be an affordable project. So If anything it will add about 100+ additional affordable units to the area, which looks like 5 to 7 times more affordable units than currently exist on that block.

      I suspect all of the houses under contract were already low cost rentals created when the area was red-lined and families could no longer get mortgages.

    2. I am not following your argument how a subsidized affordable housing project is an example of “gentrification?”

      Gentrification occurs when newer more affluent residents move into a neighborhood and cause housing prices to increase so that existing residents end up eventually priced out of their neighborhood.

    3. Why is “gentrification” such an evil word or concept? To me it means new urban life and improvement from what exists there now — or what used to be. I repeat, what USED to be. Hmm, what sounds better to you? What’s the opposite of gentrification?: urban decay, lower property values, closed and abandoned homes and businesses? Gripe and opine all you want, but rising property values, improved tax bases, new business, AND housing, whether it caters to the rich, the middle class, and the poor sounds like progress to me. Neighborhoods are typically built, grow and prosper, sometimes decline…or really hit the skids. Hopefully, and often, with new investment, ideas, and some kind of personal and community sweat equity, they come back. Kind of a natural cycle. And oh yeah, the design is midwest cookie-cutter boring, but it’s something.

    4. David B.
      + 1
      Gentrification should not be an evil word,
      It brings value to an otherwise decaying area.

    5. I agree wholeheartedly David B.

      You can’t tell me that people prefer the Old Fall Creek over the current new Fall Creek area and Herron-Morton.

    1. I think we’d all prefer to have both but if we have to choose one nowadays, I guess practicality is king

  2. I just hope it helps clean up and change the neighborhood for the better. In the past few years, Stringtown (that is what the area is called) has declined. Half of the homes on Aster and Saulcy have sat empty and rough boarded for years. Home values are still very low, and rents are extremely stagnant.

    1. Yep, I’ll bet a lot of these posters really don’t know the neighborhood. Most properties, streets, sidewalks, and public spaces around here are in shake shape, and suffer from a lack of basic maintenance.. Pretty depressing. I assume though it does provide for some pretty cheap housing, until a house or property becomes totally dilapidated and unlivable. The needs help and new life. Yes you could say the city has abandoned it, but some of that is understandable. PEOPLE have also abandoned it and it’s not generating much of a tax base to justify better city services and $$$.

    2. David B.
      +1
      I know that neighborhood well. There had been a lot of neglect and many of those houses were in bad shape.

      **. That said, there has been revitalization by the migrants in that area. In fact without the migrants many of those houses would be sitting empty and further deteriorated.
      The migrants have been bringing life back to those neighbors.in a low income kind of way.**

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