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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

Efforts target blight on 16th

October 13, 2009

The Indianapolis Housing Agency has bought a troubled low-income housing project called Caravelle Commons and is working on plans to redevelop the complex to better connect with the Herron Morton Place neighborhood. Next door, Kroger has revived efforts to acquire land and plan a new supermarket at 16th and Central Avenue to replace an old location. The chain bought the corner a few years ago and closed on a vacant parcel that was previously part of Caravelle earlier this year. Together, the developments could represent a turning point for a blighted stretch of 16th Street. At a minimum, the housing agency plans to reopen Park Avenue, which now dead-ends in the complex, and take down fences that surround the apartment buildings. But there’s a “good chance” the plans will involve demolition of the existing complex, at 1643 N. Park Ave., and the construction of a more urban-looking replacement, said Bruce Baird, the group’s director of strategic planning and development. Check out the full story here. (You can sign up for a free 12-week subscription to IBJ.com.)

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