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.
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.
The proposed development at 421 N. Pennsylvania St. has undergone extensive changes since this spring, including rising from seven to 11 stories.
The abandoned, 336-unit complex “presents considerable safety and security challenges” for its surrounding neighborhood, according to the city.
George Tikijian, who founded the company in 2005, said the deal was finalized Thursday following several months of internal deliberation.
RealAmerica Development LLC’s plan to build 70 income-based apartments in downtown Fishers has been passed over for housing tax credits that would have helped finance the project.
Apartment rent is on the rise in Indianapolis, thanks in large part to the area’s boom in new multifamily developments—and updates to old ones.
A Chicago-based private-equity firm acquired the grocery-anchored 151-unit complex from a partnership consisting of developers Browning Investments and Sheehan Construction Co.
The developer of a proposed 164-unit apartment complex in the heart of Broad Ripple said it would consider going back to the drawing board in an effort to get the blessing of some area residents who have concerns about the project.
A senior housing community east of the St. Vincent Hospital campus is expected to undergo a major expansion over the next year that will add several dozen independent-living residences.
The new owners have renamed the five Indianapolis-area properties and plan to spend at least $29 million on renovations and upgrades.
Birge & Held plans to rehabilitate the 304-unit community and target low- and moderate-income renters, who face a shortage of affordable housing.
Projects underway in Fishers, Westfield and Noblesville are aimed at addressing the lack of housing options for low- and middle-income earners in Hamilton County, but they will only make a dent.
The owner of the long-standing project on the Monon Trail has a deal in place to take acreage next door for more units as apartment development heats up in the heart of Broad Ripple.
The developer says it had agreed to let the college continue to operate on the site for three years before the surprise news last week that it was shutting its doors for good.
The project, named Line Lofts, calls for 63 affordable senior apartments on 1.5 acres along Southeastern Avenue. Part of the project will face East Washington Street.
Parkside at Finch Creek would be designed for as many as 1,500 new housing units, including homes for empty-nesters, apartments and senior-care facilities.
The site for the 180-unit project is somewhat unusual—inside a business park that includes office buildings, a hotel, a Goodwill outlet store and the headquarters of The Garrett Cos.
Milhaus President Jeremy Stephenson, a panelist at IBJ's Commercial Real Estate Power Breakfast on Wednesday, said job growth and millennials' tendency to put off marriage are helping to support the downtown apartment market.
If approved by the city, site work would begin in early spring 2019, with construction starting shortly after.