Artistry Development Could Kick-Start Other In-Fill Projects Downtown

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Indianapolis, which avoided the worst of the Great Recession, has emerged as a stable market thanks in part to an abundance of older, underutilized buildings in its urban core that are now considered desirable for in-fill projects.

One example is the recently completed $30 million Artistry development, which includes 258 apartments and 68,000 square feet of first-floor commercial space. Residential rents range from $800 to $1,800 per month.

With a diverse economic base, strong public schools and the presence of downtown employers like Eli Lilly, Wellpoint, and Rolls Royce, downtown Indy is able to sustain a diverse population and that, along with the availability of in-fill sites, is making the market increasingly attractive to institutional investors.

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