INDIANAPOLIS — Buying a home in the Reagan Park neighborhood is about to become more affordable. The small community sits just north of downtown, near Fall Creek Place and Martindale-Brightwood.
More than 30 townhomes will be built near 25th Street and Winthrop Avenue. It will be called “Arnold Place.”
The Indianapolis Neighborhood Housing Partnership (INHP) and the city broke ground on the development Tuesday morning.
It will offer market rate and affordable housing options for people earning up to 80% of the area median income. In Marion County, that translates to $77,350 annual earnings for a family of four.
The townhomes will be one of the largest single-site locations within the city to offer affordable homes to buy.
“Arnold Place is the result of years of collaboration with our partners at the City of Indianapolis, our funders, and, most of all, the neighborhoods who helped us create a desirable and affordable place to live,” said Gina Miller, president and CEO of INHP.
The townhomes will be one of the largest single-site locations within the city to offer affordable homes to buy.
“Arnold Place is the result of years of collaboration with our partners at the City of Indianapolis, our funders, and, most of all, the neighborhoods who helped us create a desirable and affordable place to live,” said Gina Miller, president and CEO of INHP.
Arnold Place will take over the site of Colonial Bakery Company’s truck maintenance facility. It’s part of the city’s 25th and Monon Vision Plan.
“You know, a lot of times, we are breaking ground on a lot of apartment projects, but here, we are also breaking ground on multiple home ownership projects through the city, and this one being 33 units is really an exciting one,” said Rusty Carr, the director of the Department of Metropolitan Development.
INHP acquired the land from the city and partnered with Onyx+East to design and build the development.
Neighborhood leaders decided to name Arnold Place in honor of 101-year-old Albert Arnold, who has lived in the community for more than 69 years with his wife and family.
“I’ve seen this neighborhood grow, and it looked like all the children left, but they are coming back with these new homes. They are coming back,” Arnold said. “It will be a proud place to live in the city of Indianapolis—Arnold Place.”
Next door to the future development is Harvest Christian Fellowship Church. Pastors Willie and Lois Sparks have also been a part of the redevelopment conversations.
They moved to the neighborhood more than 30 years ago.
“At that point, they were trying to give homes away,” Willie said.
Now, they hope the community will become a destination.
“We have established homes, but now, we can get ready to bring in a different generation,” Willie said.
The Arnold Place townhomes will vary from 1,300 to 1,500 square feet, featuring two or three bedrooms, and two and a half baths; each unit will have an attached garage. Pricing will be announced in early 2024, with the first move-in-ready homes available in mid-2024.