Oaktree Apartments demolition order affirmed by appeals court
Oaktree Apartments, a blighted 19-acre property at the southeast corner of 42nd Street and Post Road with 336 apartment units, has been vacant since 2014.
Apartments
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Greenwood apartment complex sold to out-of-state investors for $40M
Copper Chase, one of the largest apartment complexes in Greenwood, received nearly 20 offers, including several from companies looking to make their first foray into the Indianapolis multifamily housing market.
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Could land trusts keep housing affordable, avoid gentrification?
In a quest to create permanently affordable housing, about 25 Indianapolis community groups and development corporations have formed the Community Land Trust Coalition.
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Developer of $66M apartment project downtown requesting $9.8M in TIF bonds
Under a proposed deal, the Boston-based developer of the 11-story project would receive a portion of the increase in property tax revenue generated by the project in order to pay off the bonds.
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Articles
Developers team up on $12.5M apartment project on near-north side
A north-side community group and a locally based development company are partnering on the two-building project slated for the southeast corner of Illinois and 22nd streets.
East-side not-for-profit plans $9 million, 51-apartment mixed-use project
To be known as St. Lucas Lofts, the project proposed by Englewood Community Development Corp. would include at least 10 units designated for individuals who are recovering from homelessness.
Developer plans $17.5M apartment project on southern edge of downtown
Indianapolis-based BWI LLC is requesting a city property tax break for the 97-unit development that would save it $1 million over 10 years.
Developer plans to raze homes in Fishers for $29M apartment project
The Fishers City Council on Monday night approved a development agreement between the city and Indianapolis-based Scannell Properties, which has 14 residential parcels under contract south of the Nickel Plate District.
TWG seeks tax break for $26M apartment project at old IPS site
TWG Development could save $1.4 million on the 188-unit Wesmont, named after jazz guitar legend Wes Montgomery. It’s part of the company’s larger redevelopment project south of East 16th Street and east of the Monon Trail.
Kite, Milhaus detail plans for 7-building apartment complex in Glendale
The two local developers said they hope to start work on a 267-unit apartment project in Glendale Town Center’s parking lot by the end of this year.
Developer investing $30M to buy, rehab Nora apartment complex
The 254-unit Nora Pines would be renamed but remain affordable housing. TWG Development is asking the city to issue $17.6 million in bonds for the project, which the developer would be responsible for repaying.
Kite, Milhaus planning 7-building apartment complex next to Glendale
Indianapolis-based mall owner Kite Realty Group Trust this month filed a request with the Marion County Board of Zoning Appeals to change zoning for some of the parking lots just east of the shopping center.
City files eminent domain suit to acquire, demolish Oaktree Apartments
The city of Indianapolis has called the 19-acre property southeast of the intersection of 42nd Street and Post Road a “threat to public health, safety and welfare.”
Local apartment development firm TWG changes leadership
Tony Knoble and Justin Collins have taken top positions at the development firm after the retirement of longtime execs Joe Whitsett and Dennis Dye.
Flaherty & Collins opens Sullivan apartment project
The project created 40 apartments, which are spread across two restored historic structures and new construction on the downtown square.
Student apartments near IUPUI to get 72-unit addition from new developer
Indianapolis-based Spectra Student Living bought an existing complex on 10th Street for $23 million and is planning a second phase with units overlooking the White River.
Developer plans $30M apartment project at former college site downtown
Milhaus’ 175-unit project, dubbed The Grid, will also include a 180-space parking garage and an enclosed outdoor courtyard with kitchen and lounge areas.
Trio of downtown-area apartment buildings hits market
Their Bloomington-based owner is marketing them less than three years after completion. They include The Delaware, a high-profile complex at 22nd and Delaware streets.
Fishers City Council approves zoning change to allow income-based, age-restricted apartments
The council gave the green light Monday to RealAmerica LLC’s plan to build a 130-unit complex along the proposed Nickel Plate Trail that would include 65 apartments with rents based on income.
Toronto firm adds to Indianapolis holdings with two apartment acquisitions
Emma Capital Investments Inc., which entered the Indianapolis market earlier this year, has acquired apartment complexes on the city’s north and northeast sides totaling 496 units.
Neighbors of Mile Square apartment project satisfied with bigger, reconfigured plans
The proposed development at 421 N. Pennsylvania St. has undergone extensive changes since this spring, including rising from seven to 11 stories.
City poised to offer $1.6M to acquire troubled Oaktree Apartments
The abandoned, 336-unit complex “presents considerable safety and security challenges” for its surrounding neighborhood, according to the city.
Local apartment brokerage Tikijian Associates bought by Cushman & Wakefield
George Tikijian, who founded the company in 2005, said the deal was finalized Thursday following several months of internal deliberation.