Argosy Real Estate Partners acquires site for multifamily development
Argosy Real Estate Partners has acquired a fully entitled site of approximately three acres in Indianapolis for the ground-up development of Rise on Meridian, a 269-unit multifamily community with 3,500 square feet of ground-floor retail.
The project is located in the Old Southside neighborhood of downtown Indianapolis within several blocks of Eli Lilly’s (Fortune 500, NYSE: LLY) urban campus and corporate headquarters, and Lucas Oil Stadium (home of the Colts NFL franchise).
The development will consist of a six-story building (five levels of wood-frame construction on top of a one-level concrete-podium-garage structure) with an adjacent surface parking lot. The project will feature a mix of studio, one-bedroom and two-bedroom units. Amenities will include a fitness center, lounge, bicycle-storage space, dog park, co-working space, barbecue stations, courtyard and second-story communal balcony. The project will have both garage and surface parking available.