Group plans rebirth of The Meadows - 13 WTHR Indianapolis

Mary Milz/Eyewitness News

Indianapolis - Once called the worst area of the city, there's a new multi-million dollar plan for a rebirth of The Meadows.

In its 60-year history The Meadows, located just east of Keystone along 38th Street, went from a suburban destination to a crime-ridden area.

Edward Stuckey who grew up nearby said, "you usually didn't go over there unless you had to to."

Repeated efforts to improve the area have fallen though or failed, with some of the low-income housing coming down four years ago. Working with the city, Strategic Capital Partners hopes to invest up to $150 million in a redevelopment project over next 5-8 years.

"This is an area that is under-served both with quality housing and services," Strategic Capital's Mike Higbee said.
 
Higbee said plans for redeveloping the 110-acre site are in three phases. He said the first phase would include 250 multiple-family, mixed-income apartments and "hopefully commercial retail to anchor the neighborhood and stimulate additional development."

One big component would be a new grocery store. Currently, the nearest one is roughly four miles away.

Durmon Jones, who heads the United Northeast Development Corporation said, "we're very pleased. This is a great opportunity for the Meadows area to be brought back."

Jones said he also sees the project helping adjacent areas hit hard by foreclosures.

"The most important thing is allowing that negative image to disappear," Jones said.

They also must convince people that this time, it just might work.

"That's really our biggest enemy," Higbee said.

But he also believes two nearby charter schools, one where the failed Cub Foods used to be, are vital to the project.

Marcus Robinson, principal and CEO of the Tindley Accelerated School agrees.

"We were very intentional in moving in (to the neighborhood) to help it make a comeback," he said. "People want safe places to play, learn and raise their kids."

While some nearby residents might be skeptical, Stuckey said, "anything that makes one part of the neighborhood look good helps everyone else out."

Higbee admitted securing financing will be "very tough." He said the project is dependant on a combination of state and federal grants and private investment dollars. He said developers hope to break ground on phase one by next June. 

Ultimately, he said the complex could contain 600-800 residential units, including for sale homes.