Affordable Housing - Indianapolis

  • Low-Income Senior Housing Project in Downtown Indianapolis Wins $837,000 in Federal Tax Credits

    A $9.6 million affordable senior housing project planned by TWG Development LLC in downtown Indianapolis has been awarded federal tax credits from the Indiana Community & Housing Development Authority.

    26 March 2014 22:02
  • Pangea Achieves 90% Occupancy in Record Time for Two Turn Around Properties

    Pangea Properties, a private real estate investment trust based in Chicago, has announced that, after having made significant property improvements, it has achieved 90 percent occupancy for two of its recently acquired Indianapolis communities. The company purchased both 109-unit Pangea Courts and 120-unit Pangea Riverside in 2012.

    09 November 2013 01:53
  • Developers Plan $10.7M Affordable Senior Housing Project in Indianapolis

    Local low-income housing developer BWI Development & Management Inc. has partnered with the not-for-profit Local Initiatives Support Corporation to develop an affordable housing project for seniors in Indianapolis.

    27 September 2013 21:56
  • Browning Investments Obtain Preliminary Approval for $25M Mixed-Use Project Over Community Objections

    A proposed $25 million residential and retail project in Broad Ripple has received its first approval from the Metropolitan Development Commission. According to the Indianapolis Business Journal, a final decision regarding the rezoning of the 2-acre property northeast of the intersection of College Avenue and the Central Canal is expected on Sept. 4.

    23 August 2013 21:41
  • Insight Development Opens 155-unit Mixed-Income Apartment Community in Downtown Indianapolis

    by Adriana Pop, Associate Editor Insight Development Corp., the development arm of the Indianapolis Housing Agency, has announced the official opening of 16 Park Apartments, an eco-friendly residential community located in the city’s downtown area. The $34 million redevelopment project has turned the 35-year-old Caravelle Commons housing cooperative along 16th Street into 155 mixed-income residences. [...]

    28 June 2013 20:07
  • Hertz Investment Acquires 650,000 SF Office Property in Indianapolis

    Hertz Investment Group of Santa Monica, CA has closed on the purchase of the 650,000 square-foot Capital Center Office Tower Complex in Indianapolis from Invesco Real Estate. The local office of CBRE represented the seller in the transaction. According to the Indianapolis Business Journal, the complex is the 12th-largest in the city and the fifth-largest downtown. Located on Illinois Street, between Ohio and New York streets, the two-building Class A office property is comprised of the 17-story North Tower and the 22-story South Tower. Amenities include an underground parking structure with 525 spaces, two restaurants, conference facilities, a sundry shop, a coffee shop and a fitness center.

    22 April 2013 16:42
  • Eli Lilly Plans $180M Expansion of Insulin Cartridge Plant in Indianapolis

    Locally based pharmaceutical giant Eli Lilly and Co. is considering an additional $180 million investment in its Indianapolis-based insulin manufacturing operations. Plans call for an 84,000-square-foot expansion of the company’s $140 million plant currently under construction in the southwest area of downtown Indianapolis. The new facility will increase the company’s insulin-active-ingredient manufacturing capacity and create a second insulin-cartridge-filling line. The production area is expected to become operational in March 2014, while construction on the insulin-cartridge-filling line would be complete by 2016.

    05 April 2013 21:51
  • Vista Capital Arranges $7.7M CMBS Loan for Extended-Stay Property in Indianapolis

    Vista Capital Company has negotiated and closed $7.7 million of financing for the five-story Staybridge Suites hotel in downtown Indianapolis. The 10-year CMBS loan was provided by a European-based group of investors who were attracted by the market and by the strong performance of the asset. The extended-stay, InterContinental-branded hotel was built in 2000 by its current owner. The property offers 146 rooms, along with a variety of amenities, including a business center, a fitness center and an indoor pool.

    22 March 2013 21:38