Developments

16 Park

In 2009, Insight Development purchased Caravelle Commons—a 65-unit housing cooperative originally developed in 1975.

Caravelle was located within a vibrant downtown Indianapolis community that was—and continues to be—economically and racially diverse. With the desirability of downtown living on the rise, it was an area that had recently experienced significant residential and commercial growth.

16 Park, a $34 million redevelopment effort, called for demolition of the 35-year-old structures and replaced them with 155 units of mixed-income, affordable housing. Green design elements—including the use of rain gardens and green roofs—enhances the new construction, while the building plan physically connects the site to adjoining neighborhoods, retail centers, parks and service providers. The redevelopment received the single largest tax credit award ever made by the Indiana Housing and Community Development Authority (IHCDA).

To learn more about the 16 Park development, visit the 16 Park community page.

1621 North Park Ave.
Indianapolis, IN 46202

Leasing Office:

317-923-5822

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The Georgetown

Originally built in 1964, The Georgetown served upscale renters in the Meadows area of north Indianapolis for more than 40 years. Recent history was not as kind as the property fell into disrepair, suffered fire damage and sat vacant for a decade before acquisition through foreclosure by the City of Indianapolis. The city donated the property to Insight for redevelopment as mixed-income, affordable rental housing.

Using a mix of HUD Replacement Housing Factor (RHF) funds; state Low Income Housing Tax Credit equity; Affordable Housing Program grant funds from the Federal Home Loan Bank; and public housing operating subsidy, Insight created 90 rental units (including 37 public housing units) within nine townhouse-style buildings. Five of those units are reserved as transitional housing units for formerly homeless residents, while 14 rent at market rate.

The Georgetown is located a short distance from a local park, recreational trails, educational facilities, health services and shopping areas.

2009 Keep Indianapolis Beautiful Monumental Affair Merit Award Winner, Community Development.

To learn more about The Georgetown, visit the Georgetown community page

3621 Bunker Hill Drive
Indianapolis, Indiana 46205

317-261-7245

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Red Maple Grove

Insight served as co-developer of Red Maple Grove, a 29-acre, New Urbanist neighborhood in southeast Indianapolis. The new development includes 165 affordable and public housing rental units, up to 52 for sale homes, a two-acre city park, community center, swimming pool and tennis courts.

A $16.8 million HOPE VI grant from HUD in 2004 made possible the demolition and redevelopment of 250 vacant public housing units. In place of the 1960s-era, barracks-style public housing the Red Maple Grove boasts newly tree-lined streets (with rear alley parking and trash pick-up) and new curbs and sidewalks. The homes are new construction and are around $140,000.

The Red Maple Grove homeownership program has 3 qualifications for eligibility:

  1. The potential homeowner must be able to get a first mortgage loan for up to $75,000
  2. Have a total verifiable household income of 80% or less of area median income
  3. Be able to pay $1,000 for a down payment

The HOPE VI funds that are available for qualified person’s are in the form of a five-year, completely forgivable loan. This loan is used to fill in the gap between the first mortgage and the cost of the home. The eligible homeowner must agree, through a second mortgage between them and IHA, to stay in the home for five years. Each year 20% of the IHA second mortgage loan burns off.  At the end of the 5th year, the second mortgage is forgiven.

To learn more about the single family homeownership program at Red Maple Grove, visit the Red Maple Grove community page.

2927 Tabor Street
Indianapolis, IN 46203

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Concord-Eagle Creek

Insight's first development began in 1995 and used a $29.6 million HOPE VI revitalization grant and Low Income Housing Tax Credit equity to create 222 units of affordable housing for very low income residents.

The single and double dwellings range from one to five bedrooms. Eighty units serve public housing residents.

2003 Indiana Apartment Association Prodigy Award Winner, Best Subsidized Community

To learn more about Concord-Eagle Creek, visit the Concord-Eagle Creek community page.

3125 Concord Court
Indianapolis, Indiana 46222

317-261-7344

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Millikan on Mass Ave.

Millikan on Mass Ave. is scheduled to open December 2013 as the newest Affordable Indy downtown community. Located in the heart of the Mass Ave cultural district, Millikan on Mass Ave. has easy access to shopping, transportation, nightlife, art and culture.

Amenities include air conditioning, Energy Star appliances, energy-efficient water heaters and furnaces, in-unit dishwasher, washer and dryer, and paid water, sewer and trash. Millikan offers one- and two-bedroom unique floorplans.

To learn more about Millikan on Mass Ave., visit the Millikan on Mass Ave. community page.

551 Massachusetts Avenue
Indianapolis, Indiana 46204

317-261-7273

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