The 8-acre development at Glendale Town Center would consist of 193 apartments in four buildings and 48 townhouses in eight buildings.
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The Indianapolis-based apartment developer plans to vacate its current headquarters in the Fletcher Place neighborhood for a newly designed space that can house twice as many employees.
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The project at the site of a former Kroger store is expected to consist of about 234 apartment units, a 240-space parking garage and 3,600 square feet of street-level restaurant space.
Totaling 331 units, the apartment complexes are located in Meridian-Kessler, Fountain Square and downtown.
A local developer and a Missouri-based startup view a former junkyard as a proving ground—for young athletes, and also for the firms’ goal to build a network of youth-sports developments.
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.
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.
Several projects are in the works—a push led mainly by local developer Onyx+East, which plans to begin construction this year on nearly 150 units, 90 of which are in or near downtown.
