Indianapolis: Fountain Square (New $20MM Apartment Project)

[Matthew Schroeder]

Dear BP Members Interested in Indianapolis,

For anyone who has been to Fountain Square recently, they can see that the neighborhood is being transformed.  It is not uncommon to see newly renovated Victorians and new construction in the neighborhood listed at +/- $300,000.

As evidence of the strong market trend, below is an article from the Indianapolis Business Journal discussing a new, proposed $20 million apartment project in the neighborhood.

http://www.ibj.com/articles/59167-developer-plans-...

[William Hull]

I think east of state is way safe now if you buy it right. I have wholesaled a few properties in the last 60 days there and comps are really rising. I believe there is still a line but becoming less and less of one as time goes on.