3 Nov, 2021

TWG Announces New $58 Million Apartment Complex on Southside of Indianapolis

Construction on Rise on Meridian began last month

Indianapolis, IN — TWG, a real estate development company specializing in commercial, market rate, affordable and senior housing developments, today announces the development of Rise on Meridian, a new $58 million multifamily housing complex on the southside of Indianapolis.

Located at 915 S. Meridian, the 269-unit, six-story building will feature a mix of studio, one- and two-bedroom apartments. The building equates to over 300,000 gross square feet and features 3,500 square feet of retail space. Residents can enjoy a pool and indoor aqua lounge open to the courtyard, dog park, second floor balcony overlooking Meridian Street, indoor bicycle storage, community lounge, a co-working space in addition to garage and surface parking.

The new apartment development is located near the historic Old Southside area along the South Meridian Street Corridor, within a federal Opportunity Zone and the Near South Gateway Economic Development Area. Construction on the project is expected to begin this month, and the first units will become available in Winter 2023.

The units will vary from 562-954 square feet and cost between $1,200-$2,100 per month. Through a partnership with the City of Indianapolis and Tax Increment Financing (TIF) bonds, 5% of the units will be reserved for individuals with income less than or equal to 30% of the area’s median income (AMI).

“The construction of Rise on Meridian will strengthen an already thriving restaurant and neighborhood culture on the southside of Indianapolis,” said Tony Knoble, CEO at TWG. “There’s currently a demand for development in this area, and we look forward to supporting the current momentum created by the Stadium Village Business Association and Old South Side Neighborhood.”

 

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