Parkside At Tarkington Receives INDI Funding

Midtown Indy was one of eight grantees awarded funds by the Indianapolis Neighborhood Housing Partnership (INHP) through the Indianapolis Neighborhood Development

Initiative (INDI). The INDI funds will support Midtown's work with its development partner Flaherty & Collins on the former United Way Building, 3901 N. Meridian, to transform that 75,000 sq. foot vacant building into affordable housing for seniors and provide space for a senior healthcare service provider.

project also received voucher funding from the Indianapolis Housing Authority to help subsidize rent for the developmentally disabled by providing rental assistance for 8 units. With that approval, all funding is in place to build residential units, white box the commercial space and demolish the parking garage. The final piece of the financial puzzle is a Payment in Lieu of Taxes (PILOT) agreement with the City of Indianapolis. Negotiations are ongoing, but the project should close 2Q 2021 and break ground later in the year.

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