Q&A with Onyx+East CEO Kelli Lawrence on embracing unique housing types

Kelli Lawrence, CEO of Indianapolis-based homebuilding company Oynx+East, wants to stay nimble in a changing housing landscape.

Lawrence, who joined Oynx+East in 2019 after 18 years at Carmel-based Cityscape Residential, has led the company through a period of growth that has seen Onyx+East expand into markets in Florida and Ohio. The company moved to a new office two years ago along Virginia Avenue in Fletcher Place.

Onyx+East, which was spun off in 2016 from Indianapolis-based Milhaus Development LLC, got its footing in downtown Indianapolis, and Lawrence has led the company as it has put a focus on the suburbs. Last year, the company broke ground on its largest for-sale community, Flora in Carmel, and the company is preparing to start construction on its first development in Fishers, the Nickel Row town house community.

Lawrence has also worked to introduce new housing types in central Indiana, such as build-to-rent housing. In 2022, Onyx+East partnered with the New York-based investment firm Pretium Partners LLC to invest $600 million to build and operate build-to-rent communities across the Midwest and in Florida. Onyx+East launched a division called Black Opal that specializes in the approach.

And Onyx+East has been a leader in the market in building infill housing, which involves filling gaps in neighborhoods and building on existing lots.

Lawrence began her professional career as a city planner in Carmel as the Hamilton County community was in the early stages of its transformation into a suburban powerhouse known for its architecture and roundabouts.

Lawrence sat down with IBJ recently to talk about her career path and the opportunities she sees for Onyx+East. This conversation has been edited for length and clarity.

What led you into the world of residential real estate development?

When I went to school for urban planning at Ball State, I really thought I would be in the public sector as a city planner or as a consultant doing planning work, and I was fortunate to be in the city of Carmel right as the start of the redevelopment area was happening. I got to experience in my short time there a lot of really cool real estate development and met some developers and had the opportunity to change courses and then [have] been in residential real estate my whole career.

What was it like working for Carmel and seeing the vision for the city before it became a reality?

It’s pretty amazing to think about all of the things I saw in planning documents or idea boards and to see [former Mayor Jim Brainard] figure out how to make it happen. It’s really amazing to think about being there at that time again, seeing the first developments in City Center. That was around the late ’90s, early 2000s. We were working on the plans for U.S. 31 as they got developed, for Keystone, the entire roundabout thoroughfare plan. I think, for me, it was a good lesson in leadership and tenacity to see it through.

Is there one person who has been most influential to you in your career?

I would say [Cityscape Residential co-founder] Jim Thomas, who would become my partner for many years. I think really seeing his excitement and passion for development, creating really cool places, was exciting for me, and I learned a lot from him. And I would say he probably encouraged me the most to consider development as a career.

How would you describe your leadership style?

I think I really focus on authenticity. I think that’s important for everyone, to be your true self at work because I think that makes us all successful. Real estate development is hard, and so there are lots of factors you can control and many you can’t control. So, a collaborative approach to talking through the good and the bad of how we’re doing and making sure we’re adjusting to what our customers need and to what the market is telling us. Fostering collaboration and being strategic is really important to me.

What makes someone a good fit to work at Onyx+East?

If you want to work at a place that has a 300-page guidebook that tells you exactly what to do, this is probably not going to be the best place for you to work because we expect people to bring their expertise. I allow people to have a lot of autonomy in their area, and I value their expertise and what they do. Our growth would not be possible without a talented and committed team. Their commitment to our vision, values and growth have been critical to all that we have achieved

What are your goals for Onyx+East in the next five years?

We’ve had incredible growth over the last five years, and I think we want to grow within the markets that we’re in. We’ve expanded from Indy to Columbus and Cincinnati [in Ohio], and we’re in Tampa and St. Pete [in Florida]. We’d like to grow our footprint in each of those markets in the next three years. We’re expanding into more of the suburban areas.

Onyx+East has been at the forefront locally in build-to-rent housing. Why has that been a focus for the company?

I think it’s an exciting trend for the housing industry. And I think we need housing of all types right now, I think, to help with the lack of supply, with the affordability challenges that we have throughout the housing spectrum. And I think build-to-rent is a great new housing choice for people … as their lifestyle changes.

The company has done multiple infill housing developments in Indianapolis, and you just broke ground on another recently in Fishers with Nickel Row. Why has infill housing become such a focus for Onyx+East?

Infill housing is connected housing, and that’s really how the company was founded. It used to be to get connected housing that was walkable and bikeable and next to retail and restaurants, it had to be downtown in Indy. Well, now it can be downtown in Fishers and downtown Carmel, and all the suburbs have done a great job creating their own identity and redeveloping their core to create these great places. We think we have a really unique niche in providing that housing because of how we look at a site. We don’t really build cookie-cutter housing. We’re willing to look at a site and provide a variety of housing types.

A lot of your developments are near trails like the Monon and the Nickel Plate. How has the construction of trails over the past decade or more changed the way developers look at what is possible for a site?

That’s our beachfront property. That’s our spine. It’s the lifestyle amenity. It connects you to the great places in these suburban communities and even all the way downtown. These trail networks really connect the whole city, and it provides recreation, as well. We’re seeing as a big housing trend, especially since COVID, is the focus on wellness. Being able to bike, walk, be outside is so critical, and there’s a lot of great infill opportunities along the trails.

What is one of the most interesting housing trends that you see right now?

There’s some 3D-printed houses and some things that are pretty far out there that are really interesting to think about how those could be deployed.

And when you’re not working, what do you enjoy doing in your free time?

Our family loves to ski, so that’s something we enjoy. We enjoy being on the lake. Staying physically fit has always been probably more mental health than physical health for me. My volunteer activities are really important to me and are a big part of where I spend my free time aside from my family activities.

Where’s your favorite place to ski?

Steamboat Springs, Colorado

What is your favorite architectural style?

I probably like craftsman, if I had to just pick one. I like all styles. To me, it’s almost like how I like all music. I think there’s an appropriate architectural style for almost every context.•

Correction: The original graphic accompanying this Q&A misstated where Lawrence received her MBA. Lawrence received an MBA in marketing from the IU Kelley School of Business in Indianapolis.