An Atlanta-based real estate company has purchased four Indianapolis apartment communities and plans to spend $27 million to renovate them.
A three-building apartment complex could be built on property where Walmart once fought to open a 300,000-square-foot superstore.
A developer and the city of Elwood have broken ground on what is expected to be the largest residential development in the community of 8,500 people about 20 miles northeast of Noblesville.
The 306-unit Flats at Fishers Marketplace complex was the site of a major fire in 2015 that destroyed one of the main buildings.
The “2,000 homes” dashboard—named after a pledge by Mayor Joe Hogsett to “rehab, transform, or demolish” 2,000 homes in two years— allows residents to see addresses of blighted homes, their owners, and the type of city intervention they have received or will receive.
The plan for the development, slated just east of the neighborhood’s commercial core, required reaching out to property owners on Prospect Street and collaborating with neighborhood officials.
The Yards will consist of 232 market-rate apartments, ranging from studios to two-bedroom units, and 3,150 square feet of retail space.
The luxury units would accompany 120,000 square feet of retail and two hotels slated to be built on 17 acres in The Yard along 116th Street east of Interstate 69.
A California company bought the 512-unit Avery Point Apartments, which was finished in 1986 and consists of 58 two-story buildings.
The projects, proposed separately by Litz & Eaton Development LLC and Block 20 Development LLC, would be built on two empty lots and on property where an existing building sits.
The effort, launched in late 2014, aims to mix private-sector investments with federal tax money to spark residential and commercial activity in five targeted Indianapolis neighborhoods.
The 88-year-old, seven-story Wyndham is available for occupancy after owner the Pearl Cos. bought the building and tore the interior down to its studs.
Four projects totaling about $85 million, including three already under construction, will bring apartments, offices and retail space to a key stretch of Green Street.
Milhaus said the capital infusion will help fuel its plan to build thousands of units over the next few years while retaining most of its existing portfolio.
The $120 million building will become yet another signature structure in the new Market East district, a section of downtown that until recently featured a sea of parking lots and ramshackle buildings.
Although the largest units in 360 Market Square will top out at more than $2,000 a month, the rates compare favorably with other new downtown projects, according to one apartment expert.
Birge & Held snatched the Maxwell and Mozzo buildings out of Milhaus Development’s apartment portfolio, which has been on the market since February.
The developer of the massive $260 million project is planning for space to host a broad mix of vendors, ranging from seafood purveyors and fruit-and-vegetable stands to restaurants of various sizes.