Milhaus Begins Construction on 84-Unit, For-Sale Residences in Indianapolis
- Apr 17, 2015
Park 10, a new condominium and townhome community comprising 84 homes will soon rise in the historic Chatham-Arch neighborhood in downtown Indianapolis.
Park 10, a new condominium and townhome community comprising 84 homes, will soon rise in the historic Chatham-Arch neighborhood in downtown Indianapolis. Milhaus Development has just begun construction on the five-building project, which will feature a mix of one-, two- and three- bedroom residences, some with optional den areas. The first units will be available in the fall of 2015. Designed by Rottmann Collier Architects, the new homes at 10th and Broadway streets will be close to the Monon trail and the vibrant Mass Ave., which offers many shopping, dining and entertainment options and schools. There will be 28 two- and three-bedroom townhomes with attached two-car parking garages, private entrances and outdoor spaces. The new community will also offer 56 flats with open floor plans and large balconies. According to the Indianapolis Business Journal, the townhomes will range in size from 1,200 square feet to 2,061 square feet and sell from $299,000 to $399,000, while the flats will range from 938 square feet to 1,324 square feet and sell from $199,000 to $299,000. Customized interior amenities will include hardwood floors in living rooms and kitchens, stone or quartz countertops, energy-efficient appliances and lighting, as well as tile floors and showers in the bathrooms. The upcoming Park 10 community aims to meet the increasing demand for home ownership in downtown Indianapolis, which is currently dominated by apartment developments. Milhaus was granted approval to move forward with the project in September. “We’re seeing a tremendous increase in interest in for-sale homes from a wide range of potential buyers from those in the suburbs to those in urban apartments. They want the ability to personalize their space and create a long-term home,” Micah Hill, director of for-sale housing, Milhaus, said in a news release. “In a survey of our current apartment residents alone, 90 percent were interested in buying a home in the next five years, preferably in an urban setting.” Photo credits: Milhaus Development LLC For our most recent multi-family market snapshot for Indianapolis, click here. To read our most recent office market report, click here.