INDIANAPOLIS — Indianapolis Mayor Joe Hogsett joined the Indy Department of Public Works, Department of Metropolitan Development and TWG Development to celebrate the opening of a new mixed-use development featuring affordable housing in downtown Indy Wednesday.
On Aug. 28, the $58 million project Rise on Meridian opened at 915 S. Meridian St., expanding Indy's housing supply by almost 300 and 14 units reserved for individuals or families making below 30% of the area's median income.
“My administration is proud of our investments in the Old Southside of Indianapolis,” Hogsett said. “These projects, in addition to improving infrastructure and expanding affordable housing, will also help to preserve a vital, historic neighborhood in our city.”
The project features amenities like a community conference room, pool, courtyard, grilling stations, gym, dog wash, bike room and media lounge.
"Rise on Meridian will increase the city’s housing options and rejuvenate a historically crucial part of Indianapolis, enabled by the recent city and neighborhood investments in upgraded infrastructure,” said JB Curry, TWG President of Development. “This development has been 10 years in the making, and we look forward to welcoming the hundreds of residents who will call Rise on Meridian home in the near future and for years to come.”
In addition to the new development, $7.9 million in storm water, streetscape and traffic safety improvements are expected to be completed by the Indy DMD and DPW.
Here's a list of changes expected to come with the development:
Drainage and transportation studies
Approximately 2,770 feet of multi-use trail
3,740 feet of rehabbed ADA-compliant sidewalks with curb ramps
Six new bus pads and stops
Four upgraded traffic signals for cyclists and cars
New bike racks, pedestrian seating, streetlights and trash receptacles
New pavement markings and raised pavement markers
76 rehabbed parking spaces
16 new crosswalks
Stormwater infrastructure improvements
More than 5,000 feet of curbs
60 new trees
“The infrastructure improvements will create a more efficient, safe and livable city, benefitting residents, businesses, and the environment alike,” SVBA Operating Partner Erica Wells said. “The enhanced transportation efficiency, economic growth, accessibility, sustainability and quality of life these investments bring to Stadium Village and The Old Southside will have a huge impact on us for years to come.”
