My latest post is at Urban Indy. It focuses on two small multi-family apartment developments in Fountain Square and Bates-Hendricks, neighborhoods on the near south side of Indianapolis' downtown that, while still very gritty, have become increasingly trendy in recent years. Both neighborhoods still have their fair share of dilapidated housing and some vacant lots, but that is quickly changing, thanks in no small part to the initiatives of Southeast Neighborhood Development (SEND), the local CDC.
Here is Phase I of the Carburetor Lofts, in Fountain Square, fully leased:
And here is Phase I of the East Street Flats in Bates-Hendricks, nearing completion:
Most of these units are 120% of AMI, which, for an inexpensive city such as Indianapolis, is more or less a steal. SEND's goal was to meet some untapped demand for sleek modern architecture in neighborhoods that would support them, but would still offer a much lower price point than northside neighborhoods like Herron-Morton (which is also welcoming its share of much, much pricier contemporary infill housing). The article reviews each apartment building on its own terms, gauging the success of the urban design and likelihood that they will help sustain each neighborhood's growing viability within the demographic that actively seeks urban living. Comments are welcome, either here or on the Urban Indy webpage; I will do my best to respond.
Here is Phase I of the Carburetor Lofts, in Fountain Square, fully leased:
Most of these units are 120% of AMI, which, for an inexpensive city such as Indianapolis, is more or less a steal. SEND's goal was to meet some untapped demand for sleek modern architecture in neighborhoods that would support them, but would still offer a much lower price point than northside neighborhoods like Herron-Morton (which is also welcoming its share of much, much pricier contemporary infill housing). The article reviews each apartment building on its own terms, gauging the success of the urban design and likelihood that they will help sustain each neighborhood's growing viability within the demographic that actively seeks urban living. Comments are welcome, either here or on the Urban Indy webpage; I will do my best to respond.
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2 comments:
the carb. lofts in fountain square are completely out of context in terms of use for the area, but it was an effort to stop dollar general from creating more surface parking lot so I guess this is better than nothing. if you drive down the street though they look marooned on the edge of shelby st. but I guess in the future the first floors could be turned into retail or office.
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