Property Lines - Scott Olson

Welcome to Property Lines, Indy's favorite source for neighborhood real estate news. Your host, IBJ real estate beat reporter Scott Olson, can be reached at solson@ibj.com.
Real Estate & Retail

Apartment renovation in Irvington

December 9, 2008

Audubon Court in Irvington, IndianaApartment developer Christopher Piazza has closed on financing for a $1.2-million renovation of a 1914 apartment building in Irvington. The 31-unit Audubon Court (shown here, and currently vacant) soon will feature restored hardwood floors, clawfoot tubs, LCD wall-mounted TVs, porches and courtyards, along with a 24 hour fitness studio, laundry room and garage parking. The project, slated to begin Dec. 15, is being financed by Symphony Bank and Greensfork Township State Bank, which has agreed to acquire Symphony. The building is near Irvington Public Library and a Starbucks coffee shop. Rates will range from $600 for a one-bedroom to $1,100 for a three-bedroom unit. Piazza and a partner are launching a new company, Whistler Piazza Developers, to build the project. His existing company, Reverie Estates, will manage the completed property. Piazza, a 2005 graduate of IU's Kelley School of Business, also offered an update on his planned downtown renovation of the Penn Arts building: Legal work is underway for a December closing on the construction loan.
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