Builders offer unique options for downtown living
by Shari Held
The demand for downtown living keeps growing in sync with each exciting addition to the city. It attracts a diverse demographic-from young professionals to empty nesters.
"Downtown is really where people want to be," said Kelli Lawrence, development partner for Hearthview Residential. "The strong housing market shows how impressive our downtown is and what a destination it is, not just for tourism, but for people who want to live there and really be part of it 24/7."
But current downtown condominium projects have a lot more to offer than just location. Many have unique features that are hard to find elsewhere in Indy.
One of the most unusual projects underway is Hearthview's Meridian Arch, a combination of new and historic construction at St. Clair and Meridian Streets. French Gothic in style, the former Meridian Street Church is made of Indiana limestone.
"The turrets you see along Meridian Street will actually be part of some of the homes," Lawrence said. "Those homes within the historic sanctuary are going to be unlike anything else that you can get downtown now."
Homes at Meridian Arch start in the $170,000s. "There are not a lot of properties in the heart of downtown that start at that price-point," Lawrence said.
The new construction units will boast 10-foot ceilings, "walls of glass" windows and balconies with an unobstructed view of the Indy skyline. Meridian Arch also features secured interior parking and close proximity to the Indianapolis Cultural Trail.
Villaggio at Page Pointe
Located at 443 Virginia Avenue on the site of an old warehouse, Villaggio luxury condominiums are near the WellPoint and Lilly campuses, Holy Rosary Church and the new Indianapolis Cultural Trail. It's Page Development's first downtown project, and one that is close to the heart of company president Tony Page.
"All our family grew up near Holy Rosary Church. So besides building a condo project, we wanted to give back to the neighborhood where we grew up. We are putting in 64 units here that will bring in approximately $300,000 in taxes that the city never saw from the warehouse. So we are benefiting the city [financially] as well as continuing with its beautification."
Villaggio amenities include an on-site fitness center; secured, attached parking garage; concierge service and onsite retail shops. Units, which range from $325,000 to $750,000, feature tray ceilings, Corian countertops, ceramic tile and brushed nickel hardware. The most popular and most unique features, however, are its elevator service and oversize, private terraces.
"People can actually entertain outdoors and enjoy outdoor living and the view," Page said. "Another reason we picked this location is the skyline view of downtown. From Villaggio, it is just simply amazing."
Hearthview's contemporary Brownstone project, located at College and Michigan Streets, combines maintenance-free living with large two-story townhomes which feature balconies, private entrances and private attached garages. Private elevators are one available option. The luxury Brownstones range from $200,000 to $400,000-plus.
"We looked at the more traditional brownstones in the Northeast, in the older areas of historic cities, that have a large area of brownstone development," Lawrence said. "We thought that this would be a unique product offering for Indianapolis."