The Collegiate | 11 stories | Michigan and Capitol | Under construction
The project is an upscale 193-unit, 669-bed community due to open in Fall 2017 catered for IUPUI students, includes two buildings ranging from five to eleven stories. It will boast 3,100 square-feet of retail space and luxury amenities including a five-level parking garage, a resort-style pool with water volleyball and an outdoor courtyard with a basketball court and grilling stations. Residents will have access to a 5,196 square-foot club house which will include a fitness center, free tanning, a computer café and gaming stations
632 Martin Luther King Jr. | Studio – 4 bedroom apartments | Site prep underway
A wonderful infill for the Indiana Avenue neighborhood, this market-rate mixed-user is raising the bar on downtown rents -units ranging from $1000/studio for more than $2550 for 4 beds. With an surplus of new residents arriving from the Axis/future Pointe and Collegiate projects, the Ind. Ave district may begin to feel like an authentic neighborhood -inflated rents indicative of a healthy demand in the downtown housing market. Perhaps no other neighborhood in the city is primed for such a resurgence as Indiana Avenue with its advantage of a Canal locale, proximity to IUPUI, and a rich history anchored by the Walker Theatre. On my short wishlist would be perhaps replacing a traffic lane with two protected bike lanes and using increased density to transform the avenue into walkable, vibrant campus village.
Nine on Canal Phase II | Mixed-use, 6 stories | Proposed
Investment Property Advisors of Valparaiso is finishing up the first phase: 10-story, 319-unit building between West St. Clair and Ninth streets that also features about 8,000 square feet of retail space. The Metropolitan Development Commission Regional Center Hearing Examiner on July 10 recommended granting Investment Property Advisors’ approval to start the second phase. The MDC is set to consider the request Aug. 6. Plans call for a smaller, six-story structure with 197 units and nearly 6,000 square feet of retail space, as well as a 175-space, two-level parking garage. The first phase included a three-level, 278-space garage.
All told, the two projects represent about a $100 million investment.