Growth in the Indianapolis Market

[Justin Goodin]

Landing in the No. 8 spot on the list of fastest-growing apartment submarkets is Downtown Indianapolis. This submarket’s inventory expansion rate since 2012 is 44.1%. That calculation includes new apartment supply and units under construction at the end of 3rd quarter 2014.

Downtown Indianapolis is anchored by two Fortune 500 companies and home to several companies’ regional and national headquarters. Downtown is also home to a large bioresearch and medical community. (Indy is listed by the Wall Street Journal as a leading national life sciences hub!)

Apartments: One apartment that wrapped up construction mid-2013 in the 16 Tech area was the first phase of the Stadium Renaissance project, dubbed Stadium Lofts, a re-development of the old Bush Stadium. The 131-unit innovative complex overlooks the baseball field. The second phase, Stadium Flats, is still underway and once complete at the end of this year will contain 144 units within four buildings. Stadium Flats is just south of the Stadium Lofts and is expected to complete by the end of 2014.

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