Nearly $15M townhouse project slated for spot where Meridian-Kessler meets Monon

The project, tentatively called 46th and Monon, would consist of 12 buildings on a nearly 2.5-acre site at 1140 E. 46th St. (Rendering courtesy of the city of Indianapolis)

Local developer Onyx+East plans to spend about $14.7 million to build 55 townhouses along the Monon Trail and the eastern border of the Meridian-Kessler neighborhood.

The project, tentatively called 46th and Monon, would consist of 12 buildings on a nearly 2.5-acre site at 1140 E. 46th St.

The oddly-shaped parcel would generally run north-and-south along the former railway, which is the eastern edge of Meridian-Kessler.  The property extends east to Carvel Avenue, which places it within the western edge of the Keystone-Monon neighborhood.

The townhouses planned for the development would each be three stories, with units ranging from 1,270 square feet to 1,876 square feet. The average unit size would be about 1,610 square feet. Each of the homes would have two to three bedrooms and two-and-a-half bathrooms.

The location of the project, outlined in white, is between the Monon Trail to the west and Carvel Avenue to the east. (Image courtesy of the city of Indianapolis)

Most of the units are expected to have private, two-car garages—except for about 19 units less than 1,500 square feet, which would each have a one-car garage.

According to development plans filed with the city, select units would have second floor rear balconies, while others would have an option for a front terrace on the third floor. Further, some of the homes would have an option for a rooftop deck.

The homes, which would be accessible from new curb cuts along Carvel Avenue and 46th Street, are expected to range in price from the high $200,000s to the low $400,000s.

The project will include an enhancement to landscaping along the Monon Trail—along with a direct access point to the trail itself—and new sidewalks along Carvel and 46th Street.

The project is set to go before the Department of Metropolitan Development’s Metropolitan Development Commission on Wednesday, with Onyx+East seeking approval to rezone the property from industrial and dwelling classifications to that of a planned development.

The property set for redevelopment was formerly the Broad Ripple Business Park and headquarters for the Indianapolis Tradesman Guild. The land is under contract from current owner E. 46th St. Realty Corp., pending approvals from the city.

Onyx+East has been particularly active over the past 12 months, lining up at least a half-dozen new townhouse projects throughout the city. Recently, it announced plans for a $3.5 million project in Fountain Square, along with a $6.5 million project in the Old Northside neighborhood. 

It also is involved in a massive project in Noblesville that would include at least 123 townhouses, along with duplexes and single-family homes.

Construction on the 46th Street project is set to begin by the third quarter of 2022, with completion set for the second quarter of 2025.

Indianapolis firm Rottmann Collier is the architectural firm on the project

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21 thoughts on “Nearly $15M townhouse project slated for spot where Meridian-Kessler meets Monon

  1. Fact Check: The Onyx +East development is within the Keystone-Monon neighborhood boundaries (East side of the Monon, to West side of Keystone, North to South side of 54th, and South to the Indiana State Fairgrounds entrance). The neighborhood is re-establishing its identity in Indianapolis; and it will be wonderful when everyone knows this.

    Thanks!

    1. If the map is correct, then you are as well. As you note, M-K is only on the west side of the Monon. Unrelated, it is similar to when people call the west side of North Meridian Street as Meridian-Kessler when it is Butler-Tarkington.

  2. Are there any concerns about pollution in the ground there? It’s a former lumber yard and had access to the Monon Railroad. Sometimes there is some residual environmental contamination in industrial sites.
    Exciting growth opportunity for the neighborhood.

    1. Mary, I would assume that the company has conducted (or will conduct after approval) a Phase I (and if necessary, a Phase II) environmental site assessment. If not, any lender involved with the project will require this. The Indiana Department of Environmental Management database will display any historical findings with the property. https://vfc.idem.in.gov/FacilitySearch.aspx

    1. The fact that you think onyx and East builds affordable, in the conventional sense, is hilarious band naive. Their product is only affordable in the sense that someone can afford it.

  3. Having recently built an Onyx and East townhome, I can attest they are anything but cheaply built. They deliver a good product at a fair price.
    That might just be the reason they have so many communities in the works.

  4. I find it confounding when new developments are announced in Indianapolis. If they are rental apartment building, they are deemed “cheap” and “ugly.” If they are condominiums, they are “not affordable.” Everyone is a critic, yet none of the critics have the finances or guts to risk their own money to do what developers do.

    1. Onyx and East only does cheap, ugly and higher priced development. Equating rentals with those qualities is laughable. Perhaps asserting those characteristics is based on the developers use of language used in grant applications and testimony before the MDC. Perhaps you know less about development and who participated in it than you think. Your ignorance confounds me.

    2. Murray R. – So why not put YOUR money and guys where your mouth is and develop a major property yourself. I’m guessing you don’t have what it takes. As I said, everyone is a critic. You proved my point.

    3. You don’t really have a point that you’re making – other than you’re some kind of fly by nighter shill. Again, your assumptions of what I do with my investments are laughable and off the mark. But the ad hominems are a lovely declaration that you’re a small membered, feeble minded fellow.

  5. It would be a more helpful public service if the IBJ wrote about these projects that require a public hearing more than a day in advance of said hearing. Maybe the IBJ could sign up to get the legal notices that get mailed out 23 days before public hearings. It would also be helpful if a site plan were included.

    1. To qualify for a mortgage (after a down payment of $80,000) requires an annual income of $107,000. There are plenty of young single professionals in Indianapolis who make that kind of money or more. And there are even more two-couple income households that easily meet that threshhold.

    2. Brent, how many young professionals, or even people who have been working for a while, can afford an $80k down payment? Only 20% of Marion County households make $100k or more. Single person households within that group would be even smaller.

  6. Any development towards housing is always a good thing.I really don’t see the issue that many people have with this particular project.i personally would like to see more sophisticated and modern high rises.

    1. Kevin P. – The desire for more “sophisticated” and “hi-rise” condos and apartments comes at a much higher price due to material costs and fire standards. A four story building can be constructed entirely of wood framing and siding, whereas anything taller requires steel and more fire-rated materials that allow occupants time to evacuate the building. When it comes to fulfilling the need for additional “affordable” housing, the cost of building hi-rises makes that goal much more difficult.

  7. High 200’s to low 400s will be hot product in that area. Cool project and a great way to update a tired stretch of the Monon.

    Also, this location is just inside the priority map for CFI 70, meaning these will be some of the cheapest houses with priority to that school. Interesting selling point for the builder.

  8. I wonder if this was approved or modified or denied or continued yesterday at the MDC hearing. I think the 96th & Meridian redevelopment proposal was on the docket as well. What happened to the IBJ Property Lines blog that previously provided more coverage of these type of items?

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