Bridges Townhomes on the east side, Grand Meridian on the near-north side and Richardson Townhomes at the Central State Hospital campus each received tax credits as part of the 9% Low-Income Housing Tax Credit program for 2024.
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The Stella, when completed, will provide 166 new, mixed-income housing units and retail space in the 1800 block of North Meridian Street. A groundbreaking for the project took place Wednesday.
As proposed, the project would consist of street-level commercial spaces and upscale three-bedroom, three-bathroom apartments on the second floor.
A Greenfield-based developer plans to demolish the former Stadium Tavern to make way for a four-story apartment building.
Republican state lawmakers have long resisted taking up legislation strengthening tenants’ legal rights, making Todd Rokita an outlier at the state level—but a possible ally for advocates who’ve struggled to advance such changes.
The development partners, operating as DJ BCG Monon 22 LLC, have the land under contract from the Indianapolis Neighborhood Housing Partnership, which acquired the site in February 2022 for $2.25 million.
Noblesville Economic Development Director Andrew Murray told the council that the developers plan to invest $475 million in the project, which is expected to have a $700 million market value when completed.
Some economists project U.S. rents will be down modestly this year after soaring nearly 25% over the past four years, but the trend will likely be little comfort for many U.S. renters.
The rethought 2.4-acre Stutz II project is now expected to consist of two new structures and the reuse of an existing three-story office building.
The Department of Metropolitan Development plans to convert the eight-story, 95-year-old building on North Meridian Street into affordable housing units.
In cooperation with city development officials, Midtown Indianapolis Inc. is making headway on a project to create low-cost apartments on both sides of 42nd Street, as well as retail space and a new home for Kids Dance Outreach.
The project proposed by Carmel-based REI Real Estate Services calls for 11 two- and three-story apartment buildings along North Michigan Road.
The complaint lists problems alleged by seven residents involving repairs that were never made, incorrect bills that caused financial hardship, and general difficulties in contacting and dealing with management.
Being able to afford rent, according to the report, means spending no more than 30% of your income on housing. With fair market rent for a two-bedroom home at $988 per month, wages are just not keeping up.
Chicago-based William Management expects to spend at least $14 million to redevelop the former, century-old school building and build a second structure, with the buildings totaling 70 apartments.
An Ohio-based firm plans to seek tax credits in its effort to develop dozens of apartments and townhouses on a seven-acre tract of land on the western edge of the Central State Hospital campus in Indianapolis.
The Indianapolis-based company expects to renovate all 96 units in the vacant Grand Meridian apartment building, as well as replace its windows, roofing and other building infrastructure.
The owner also wants the city to vacate its right to an alley between the properties, which he says has become a “safe haven for crime and inappropriate and lewd behavior.”
Plans call for Promenade Trails to include 151 apartments and 59 for-rent cottages for people ages 55 and older. The first cottage residents are expected to begin moving in later this year.
Known as Versa, the project will include more than 230 apartments, a 245-space parking garage, and 3,600 square feet of ground-floor retail space.