Parkside at Tarkington, 3901 N. Meridian
Seven years in the making, this project which closed August 3, will transform the former United Way building into a mixed-use development. The upper floors will offer 60 units of affordable rental units available to qualified seniors (ages 55 and older) with incomes from between 30% AMI to 80% AMI. Eight of those units will be reserved for those individuals with physical and/or intellectual disabilities. The development team of Flaherty & Collins, Midtown Indy, Vision Communities, and Jani Development will provide an update on a recently filed zoning petition 2021-MOD-010 seeking to modify and/or eliminate commitments made in 2017 and a Payment in Lieu of Taxes (PILOT) agreement with the City.
Park West, 3902 N. Illinois St.
Myriad Fitness, a local fitness, nutrition, and training organization formerly known as Naptown Fitness, is partnering with Boaz Construction to purchase the venerable structure that has housed an automobile dealership, grocery store, and brewpub through the years. Myriad will move its operations into the spacious basement. Tenants for the 8,700 square foot ground floor have not signed leases, however, several local businesses have expressed interest. The real estate transaction is slated to close September 27, 2021. A LISC façade grant will enable the development team to bring back the building’s faded luster that was damaged by an misguided automobile.
Concord Building, 3802 N. Illinois St.
Great things are in store for the oldest surviving mixed-use structure on 38th Street in Midtown. In March, the Kheprw Institute (KI) received a $1.6M Enhancing Opportunity Grant from Lilly Endowment Inc. to fund renovation of the 2nd floor which has not been used for three decades. Additionally, the grant will fund the acquisition of the building from Midtown Indy by a community land trust to insure continued local ownership of the property.