A dormant plan to redevelop the 150-acre former Central State Hospital campus is starting to get momentum. Developers anticipate spending $100 million to $150 million to revamp the site. With online photo gallery
The $7.2 million project, to be financed with affordable-housing tax credits, involves retrofitting the three-story former Central Restaurant Products building to accommodate one- and two-bedroom apartments.
Financing for construction of a $10 million, mixed-use building at 875 Massachusetts Ave. closed Dec. 22, allowing developers to proceed with the project after a funding snag nearly killed it.
If Mayor Greg Ballard successfully closes the $1.9 billion sale of the city’s water and sewer utilities to Citizens Energy,
some of the proceeds will be used to bulldoze or rehabilitate 2,000 to 4,500 abandoned, unsafe homes during the next two years.
The addition of an underground parking garage is likely to get Trail Side off the drawing board and under construction.
Renovation of apartment building owned by the Indianapolis Housing Agency will have to wait, after it failed to receive the
necessary federal backing to fund it. Three other IHA projects, including Caravelle Commons, will move forward, however.
City agency plans renovations, expansions at eight apartment properties.
Trail Side on Mass Ave would include 69 one-bedroom apartments and about 23,000 square feet of ground-level retail space.
Partners in Housing Development seized on a weak real estate market to acquire three urban apartment communities in the last
18 months.
A troubled low-income housing project has a new owner with 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 to replace a cramped, old-format location.
Indiana Lt. Gov. Becky Skillman plans to announce the first awards of $164 million in federal stimulus money to build low-
and moderate-income housing across the state.
Local leaders and, soon, a national team of experts, are quietly developing a strategy to revitalize Marion County’s biggest
concentration of brownfield sites and impoverished urban neighborhoods, centered at East 22nd Street and the Monon Trail.
A local developer is hoping to convert an unfinished eight-story luxury condo project downtown into a mostly affordable apartment
building with its headquarters on the top floor.
A new generation of company leadership is revving the Gene B. Glick Co. and building and buying apartment complexes again.
Indy Fringe executive director Pauline Moffat and Gary Reiter, a board member of the Indianapolis Theatre Fringe Festival
Inc., want to build an affordable live-work complex near Massachusetts Avenue.
