CONSTRUCTION PIPELINE

Indianapolis Q4 2025

0

UNITS UNDER CONSTRUCTION

0

IN PRE-LEASE /
LEASE UP PHASE

0

UNITS PLANNED

Construction Pipeline

Pre-Lease Absorption Rate by Month

Forecasted Delivery Dates

Pipeline Status Breakdown by City

Pipeline Data Map

Note on Pipeline Coverage
For clarity, this report does not track prospective/proposed developments. The volume of early-stage proposals continues to expand and often lacks sufficient detail, timeline certainty, or likelihood of delivery to provide reliable insight.
Instead, our focus remains on projects that have advanced further in the development cycle—specifically those under construction, and in the planning stages. This ensures the pipeline data reflects projects with higher execution probability and more direct implications for market supply.
Disclaimer: The property data depicted in our reports is sourced from third-party providers and government sources. MMG does not directly collect or track this information. Due to the nature of external data collection, some properties may be omitted, which is beyond our control. Furthermore, the pipeline dataset was assembled on 11/6/2025, and changes in project statuses or new additions to the pipeline may not be reflected by the time of publication. While we strive to provide actionable and useful data, we do not guarantee its completeness. Clients are advised to verify all property details independently.

Full Data Table

Property NameAddressCityStateZIPUnit CountProperty StatusForecasted Completion DateStart of Rent-Up
Ridge View West650 North Main StreetFortvilleIN4606080In Pre-Lease / Lease Up PhaseFeb-25Dec-24
Westgate on Third441 South Westgate DriveBloomingtonIN47403371In Pre-Lease / Lease Up PhaseApr-25Feb-25
CityWalk on Nickel Plate Trail8803 E 121st StFishersIN46038234In Pre-Lease / Lease Up PhaseMay-25Mar-25
Vanguard at 16 Tech1410 Breedlove LaneIndianapolisIN46202284In Pre-Lease / Lease Up PhaseJul-25Jun-25
Versa6220 Guilford AvenueIndianapolisIN46220233In Pre-Lease / Lease Up PhaseAug-25Jul-25
BroadAcre5871 BroadAcre DriveMcCordsvilleIN46055256In Pre-Lease / Lease Up PhaseAug-25Jul-25
Mural Brownsburg5921 Bristlecone DriveBrownsburgIN46112164In Pre-Lease / Lease Up PhaseSep-25Jul-25
Woods of West Carmel11335 North Michigan RoadZionsvilleIN46077238In Pre-Lease / Lease Up PhaseSep-25Jul-25
Retreat @ the Switchyard1730 South Walnut StreetBloomingtonIN4740164In Pre-Lease / Lease Up PhaseSep-25Aug-25
Wild Air Landing8476 Archer DrZionsvilleIN46077159In Pre-Lease / Lease Up PhaseNov-25Oct-25
Kensington Gardens7298 Kensington GardensMcCordsvilleIN46055120In Pre-Lease / Lease Up PhaseNov-25Oct-25
Foundry at Heartland Crossing8396 Gunnoah Way EastBrownsburgIN46112228In Pre-Lease / Lease Up PhaseNov-25Oct-25
Crossing 5 Towns and Flats2514 Grand Central BlvdPlainfieldIN46168315In Pre-Lease / Lease Up PhaseDec-25Sep-25
Hyde Park Towns and Flats13957 Royal Park DriveNoblesvilleIN46060376In Pre-Lease / Lease Up PhaseDec-25Sep-25
Allure Apartments350 Splendor WayWhitelandIN46184288In Pre-Lease / Lease Up PhaseDec-25Sep-25
Redwood Whiteland36 Redtrunk LaneWhitelandIN46184154Under ConstructionDec-25
752 E Market St752 E Market StIndianapolisIN4620268Under ConstructionJan-26
Cole Motor Campus730 E Washington StIndianapolisIN46202213Under ConstructionJan-26
AT&T Redevelopment210 3rd Avenue SWCarmelIN46032244Under ConstructionMar-26
Eastway Court Phase II42 Manor DriveGreenfieldIN46140192Under ConstructionMar-26
Whitman Villas1801 Walt Whitman DrGreenfieldIN46140108Under ConstructionApr-26
Row1011 East 22nd StreetIndianapolisIN46202111Under ConstructionMay-26
The Traditions of Westfield17939 Dartown RdWestfieldIN4607462Under ConstructionMay-26
Marysville Crossing6491 Liz DrZionsvilleIN46077280Under ConstructionAug-26
220 Meridian Phase II220 North Meridian StreetIndianapolisIN4620457Under ConstructionAug-26
Silver Collection at Saxony13450 Dockside DriveFishersIN46037362Under ConstructionNov-26
The Union Flats9706 E 116th StFishersIN46037251Under ConstructionNov-26
Icon on Main1017 West Main StreetCarmelIN46032266Under ConstructionDec-26
Monon Square North620 S Rangeline RdCarmelIN46032271Under ConstructionDec-26
LEO at Carmel317 E 146th StCarmelIN46033350Under ConstructionDec-26
Michelle6800 West Kilgore AvenueYorktownIN4739690Under ConstructionDec-26
Benjamin9310 East 56th StreetLawrenceIN46216220Under ConstructionApr-27
Turtle Creek Redevelopment8253 Harcourt RdIndianapolisIN46260262Under ConstructionMay-27
New PalestineSouth 600 West & US Highway 52New PalestineIN46163282Planned
408 North Delaware Street408 North Delaware StreetIndianapolisIN46204256Planned
501 Indiana Avenue501 Indiana AvenueIndianapolisIN46202263Planned
Marko on the Canal6280 North College AvenueIndianapolisIN4622069Planned
Easton Grey5918 Rockville RoadAvonIN46123100Planned
PeabodyEast 450 South & 575 EastWhitestownIN4607587Planned
Solstice7001 South Indianapolis RoadWhitestownIN46075288Planned
West 99th Street & Michigan AvenueWest 99th Street & Michigan AvenueCarmelIN46032360Planned
District at Hyde ParkEast 141st Street & Brooks School RoadNoblesvilleIN46060300Planned
Gateway at Hyde ParkBrooks School Road & Campus PkwyNoblesvilleIN46060236Planned
Union at Fishers DistrictSEC IKEA Way & USA PkwyFishersIN46038250Planned
Village at Hyde ParkEast 141st Street & Marilyn RoadNoblesvilleIN46060264Planned
Ambrose on MainNorth East Street & East Main StreetWestfieldIN4607488Planned
Midland Pointe5890 Midland Pointe BlvdNoblesvilleIN46062256Planned
Millennium17250 Westfield BlvdWestfieldIN46074500Planned
Morse VillageEast 206th Street & Hague DriveNoblesvilleIN46062650Planned
Park and PoplarPark Street & Westfield BlvdWestfieldIN4607456Planned
Park and PoplarPark Street & Westfield BlvdWestfieldIN46074247Planned
Parkside at Finch Creek Area DNEC East 156th Street & Boden RoadNoblesvilleIN46060495Planned
Trails of Westfield801 East 175th StreetWestfieldIN46074223Planned
119 East Railroad Street119 East Railroad StreetGreensburgIN4724080Planned
1514 East Morgan Street1514 East Morgan StreetKokomoIN46901500Planned
Berkley Road & West BlvdBerkley Road & West BlvdKokomoIN46902216Planned
Mirae TrailsCounty Road East 100 North & Reed RoadKokomoIN46901560Planned
Pleasant Brook4300 County Road South 150 EastKokomoIN46902324Planned
222 Alabama Street222 Alabama StreetIndianapolisIN46204186Planned
Gold Building151 East Ohio StreetIndianapolisIN46204354Planned
Vita of Westfield17748 Spring Mill RoadWestfieldIN46074164Planned
Washington Street921 Jackson StreetColumbusIN47201120Planned

METHODOLOGY

Alex Blagojevich

Alex Blagojevich

Executive Managing Director / Co-Founder

alex.blagojevich@mmgrea.com

Michael-Sullivan

Michael Sullivan

Executive Managing Director / Co-Founder

michael.sullivan@mmgrea.com

Brett

Brett Meinzer

Managing Director

brett.meinzer@mmgrea.com

Kyle Shoemaker

Kyle Shoemaker

Managing Director

kyle.shoemaker@mmgrea.com

Simon Turner

Simon Turner

Senior Director

simon.turner@mmgrea.com

Bill Brading

Bill Brading

Senior Director

bill.brading@mmgrea.com

Thomas

Thomas Skevington

Senior Advisor

thomas.skevington@mmgrea.com

Jake Sullivan_2023

Jake Sullivan

Senior Advisor

jake.sullivan@mmgrea.com

We're proud to advise our clients about more than just their assets. Gain comprehensive insight into the multifamily industry with our exclusive, on demand access to actionable market intelligence.

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Construction Pipeline Report Methodology

Market Snapshot

Existing Units:  An estimate of the number of units in properties with 50 or more units.

Total Units Under Construction Or In Lease Up: Units being built or pre-leased as of February 2024, for projects with 50+ units.

Units Delivering in Next 4Q: Units expected to complete by the end of Q1 2025.

Share Of Existing Inventory UC: Percentage of units under construction relative to existing stock.

Construction Pipeline Status

Prospective: Early-stage project concepts.

Planned: Projects with approved conceptual plans by planning/zoning authorities.

Under Construction: Actively developed properties.

UC/Lease-Up: Properties under development and pre-leasing.

Rental Category

Discretionary: Resort-quality properties targeting high-income renters or those choosing to rent over owning.

High Mid-Range: Appeals to dual-income households with incomes similar to those in the discretionary category.

Low Mid-Range: Targets working professionals in “gray collar” jobs (e.g., police, firefighters, teachers, technicians).

Workforce: Aimed at blue-collar workers with lower incomes.

Pipeline Map & Data Table

Data sourced from Yardi Matrix. While accuracy is prioritized, the exactness of data cannot be guaranteed.

Construction Pipeline Map

The information provided in this construction pipeline map is obtained from Yardi Matrix. While every effort has been made to ensure that the information contained in the map is as accurate as possible, MMG REA does not warrant, endorse, or guarantee the completeness, accuracy, or reliability of the information.

Users of the map should be aware that the data related to properties, including but not limited to locations, statuses, and details, may be subject to change without notice. MMG REA shall not be liable for any errors, omissions, or inaccuracies in the information or for any user’s reliance on the information. Users are encouraged to validate the information with other sources in the field to confirm any details or obtain further information.

MMG Real Estate Advisors
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