Indianapolis Construction Pipeline 2Q24

MARKET SNAPSHOT

0

Existing Units

0 %

share of existing inventory uc

0

total units under construction or in lease-up

# 0

rank*

1 = Highest Share of Inventory UC

0

units delivering in next 4q

0

delivered in the last 4q

* Rank is based on the share of inventory (Units Under Construction/existing inventory) for the largest 150 Markets

Construction Pipeline

Prospective

18,366 Units

Planned

6,754 Units

Under Construction

2,846 Units

UC/Lease-Up

6,159 Units

Rental Category

Pre-lease Absorption Rate by Month

Multifamily Starts

Submarket Breakdown

Indianapolis Construction Pipeline

The information provided in this construction pipeline map is obtained from CoStar. 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.

Full Data Table

SubmarketProperty NameAddressCityStateZIPUnit CountProperty Status
16 - Greenwood - eastArlington Farms6580 East County Line RoadGreenwoodIN46143408UC/Lease-up
26 - Westfield - NoblesvilleEast Bank490 Maple AvenueNoblesvilleIN46060219UC/Lease-up
26 - Westfield - NoblesvilleGrandView18183 Wheeler RoadWestfieldIN46074158UC/Lease-up
26 - Westfield - NoblesvilleTempo at Grand Park18237 John Dippel BlvdWestfieldIN46074240UC/Lease-up
11 - Indianapolis - Washington eastVersa6220 Guilford AvenueIndianapolisIN46220232UC/Lease-up
24 - CarmelSignature Carmel, The13111 Old Meridian StreetCarmelIN46032303UC/Lease-up
14 - GreenfieldRedwood Greenfield2982 Red Spruce DriveGreenfieldIN46140185UC/Lease-up
2 - Indianapolis - CenterDomino at Monon 303132 Dr. Andrew J. Brown AvenueIndianapolisIN46205220UC/Lease-up
29 - Bloomington - northEllis, The411 West 8th StreetBloomingtonIN4740460UC/Lease-up
24 - CarmelSteadman, The11325 Spring Mill RoadCarmelIN46032263UC/Lease-up
11 - Indianapolis - Washington eastEdge, The1835 Edge BlvdIndianapolisIN46240376UC/Lease-up
25 - FishersState at Fishers10510 Kings Way RoadFishersIN46037261UC/Lease-up
26 - Westfield - NoblesvilleLAVINA7520 Alluvium StreetNoblesvilleIN46062324UC/Lease-up
14 - GreenfieldMcCord Square5811 Main StreetMcCordsvilleIN46055205UC/Lease-up
24 - CarmelLakeside Apartments of Carmel Phase II12484 Breaklines StreetCarmelIN46032110UC/Lease-up
29 - Bloomington - northAspen Heights Bloomington703 West Gourley PikeBloomingtonIN47404211UC/Lease-up
26 - Westfield - NoblesvilleWheelhouse Apartments on the Monon835 Virginia Rose AvenueWestfieldIN46074214UC/Lease-up
31 - Bloomington - eastTHIRD4500 East 3rd StreetBloomingtonIN47401175UC/Lease-up
30 - Bloomington - westRetreat @ the Switchyard1730 South Walnut StreetBloomingtonIN4740166UC/Lease-up
26 - Westfield - NoblesvilleCarlyle at Chatham Hills, The19530 Chad Hittle DriveWestfieldIN46074250UC/Lease-up
16 - Greenwood - eastMadison at Greenwood, The523 South Madison AvenueGreenwoodIN46142329UC/Lease-up
4 - Indianapolis - FranklinARLO5945 Arlo DriveIndianapolisIN46237288UC/Lease-up
26 - Westfield - NoblesvilleFederal Hill196 Westfield RoadNoblesvilleIN46060222UC/Lease-up
22 - LebanonE, The5821 Elevated WayWhitestownIN46075408UC/Lease-up
18 - FranklinLinks at Franklin, The1902 Sawgrass DriveFranklinIN46131140UC/Lease-up
17 - Greenwood - westFlats at Stones Crossing1490 Saint Clare WayGreenwoodIN46143292UC/Lease-up
1 - Indianapolis - Downtown220 Meridian Phase II220 North Meridian StreetIndianapolisIN46204100Planned
1 - Indianapolis - Downtown242 Market Street242 East Market StreetIndianapolisIN4620460Prospective
1 - Indianapolis - Downtown351 West351 West 10th StreetIndianapolisIN46202285Prospective
1 - Indianapolis - Downtown408 North Delaware Street408 North Delaware StreetIndianapolisIN46204256Prospective
1 - Indianapolis - Downtown501 Indiana Avenue501 Indiana AvenueIndianapolisIN46202262Prospective
1 - Indianapolis - DowntownEleven Park402 Kentucky AvenueIndianapolisIN46225600Prospective
1 - Indianapolis - DowntownGeorgia & PennsylvaniaEast Georgia Street & South Pennsylvania StreetIndianapolisIN46204254Prospective
1 - Indianapolis - DowntownStutz II217 West 10th StreetIndianapolisIN46204275Prospective
1 - Indianapolis - DowntownUnion House108 East McCarty StreetIndianapolisIN46225160Prospective
2 - Indianapolis - Center2100 Block2100 Central AvenueIndianapolisIN46202150Prospective
2 - Indianapolis - Center2100 Block Phase II2100 Central AvenueIndianapolisIN4620284Prospective
2 - Indianapolis - CenterAlvord Street1902 Alvord StreetIndianapolisIN46202100Prospective
2 - Indianapolis - CenterEwing Street3737 East Washington StreetIndianapolisIN4620163Prospective
2 - Indianapolis - CenterIngram, The1411 Roosevelt AvenueIndianapolisIN46201185Prospective
2 - Indianapolis - CenterLINK921 Virginia AvenueIndianapolisIN46203204Prospective
2 - Indianapolis - CenterM222204 North Meridian StreetIndianapolisIN46208127Prospective
2 - Indianapolis - CenterPolk Subdivision1129 East 16th StreetIndianapolisIN46202276Prospective
5 - Indianapolis - Perry eastEdgewood & Emerson4822 East Edgewood AvenueIndianapolisIN46204332Prospective
5 - Indianapolis - Perry eastJacob, The2110 East Southport RoadIndianapolisIN4622793Planned
5 - Indianapolis - Perry eastMcFarland Blvd7525 McFarland BlvdIndianapolisIN46237172Prospective
5 - Indianapolis - Perry eastMcFarland Boulevard Senior7525 McFarland BlvdIndianapolisIN46237135Prospective
8 - Indianapolis - Wayne eastSquare, The3500 Lafayette RoadIndianapolisIN46222100Prospective
9 - Indianapolis - Wayne westBridgeport Arts Village8018 West Washington StreetIndianapolisIN46231257Prospective
9 - Indianapolis - Wayne westTremont Town CenterBridgeport Road & Rockville RoadIndianapolisIN46234478Prospective
10 - Indianapolis - PikeAshton Place7511 New Augusta RoadIndianapolisIN46268174Planned
10 - Indianapolis - PikeHanna International Lofts38th Street & Lafayette RoadIndianapolisIN4625480Prospective
11 - Indianapolis - Washington eastAlexander at the Crossing2730 East 86th StreetIndianapolisIN46240275Prospective
11 - Indianapolis - Washington eastClearwater4016 East 82nd StreetIndianapolisIN46250299Prospective
11 - Indianapolis - Washington eastElements - Broad Ripple Residences On The Water6719 Westfield BlvdIndianapolisIN46220192Prospective
11 - Indianapolis - Washington eastHubbard Gardens Renovation4004 Meadows DriveIndianapolisIN46205328Prospective
12 - Indianapolis - Washington westMeridian North9449 North Meridian StreetIndianapolisIN46260600Prospective
13 - Indianapolis - LawrenceBenjamin, The9310 East 56th StreetLawrenceIN46216220Planned
13 - Indianapolis - LawrenceFranklin Road4005 North Franklin RoadIndianapolisIN46226200Prospective
13 - Indianapolis - LawrenceOaktree Redevelopment9012 Pinehurst Drive NorthIndianapolisIN46235336Prospective
14 - GreenfieldAccoladeEast 300 North & Progress PkwyGreenfieldIN46140240Planned
14 - GreenfieldBluestone Phase II210 Flagstone DriveGreenfieldIN46140100Prospective
14 - GreenfieldEastway Court Phase II42 Manor DriveGreenfieldIN46140192Prospective
14 - GreenfieldMeridian Homes at Sycamore Drive6654 Willow WayMcCordsvilleIN46055153Planned
14 - GreenfieldMorningside at McCordsville6277 West 600 NorthMcCordsvilleIN46055100Prospective
14 - GreenfieldMt. Comfort CorridorSWC West 600 North & Mt. Comfort RoadMcCordsvilleIN46055256Planned
14 - GreenfieldParkfieldWest 600 North & North Short RoadMcCordsvilleIN46055166Planned
15 - ShelbyvilleLee BoulevardLee Blvd & Progress PkwyShelbyvilleIN46176120Planned
16 - Greenwood - eastGreenwood Luxury948 Greenwood Springs DriveGreenwoodIN46143202Planned
16 - Greenwood - eastOliver Springs374 North Emerson AvenueGreenwoodIN46143226Under Construction
17 - Greenwood - westCenter Grove Park3111 North State Road 135GreenwoodIN46143575Prospective
17 - Greenwood - westMeadowbrook3895 North State Road 135BargersvilleIN46106386Prospective
17 - Greenwood - westRedwood Greenwood Phase II5934 Redwood WayGreenwoodIN4614375Prospective
18 - FranklinCommerce GroveState Route 135 & East Two Cent RoadBargersvilleIN46131450Prospective
18 - FranklinGateway Flats205 Paris DriveFranklinIN46131163Prospective
18 - FranklinKnollwood Farms3614 US Hwy 31 SouthFranklinIN46131100Prospective
18 - FranklinPalladium3601 US Highway 31 SouthFranklinIN46131312Prospective
21 - Plainfield/Brownsburg/AvonCityscape AvonRonald Reagan Pkwy & Veterans DriveAvonIN46123304Planned
21 - Plainfield/Brownsburg/AvonEast 56th StreetEast 56th Street & North County Road 900 EastBrownsburgIN46112420Prospective
21 - Plainfield/Brownsburg/AvonEaston Grey5918 Rockville RoadAvonIN46123100Prospective
21 - Plainfield/Brownsburg/AvonElmwood Wynne FarmsNorth Green Street & North Northfield DriveBrownsburgIN4611250Prospective
21 - Plainfield/Brownsburg/AvonFlats @ Heartland, The8396 Gunnoah Way EastBrownsburgIN46112238Prospective
21 - Plainfield/Brownsburg/AvonFlats on Main2760 East Main StreetPlainfieldIN4616860Prospective
21 - Plainfield/Brownsburg/AvonHobbs Station2537 Smith RoadPlainfieldIN46168293Under Construction
21 - Plainfield/Brownsburg/AvonHobbs Station Phase IIPerry Road & Smith RoadPlainfieldIN4616863Prospective
21 - Plainfield/Brownsburg/AvonHobbs Station Phase IIIPerry Road & Smith RoadPlainfieldIN4616890Prospective
21 - Plainfield/Brownsburg/AvonHobbs Station Phase IVPerry Road & Smith RoadPlainfieldIN4616881Prospective
21 - Plainfield/Brownsburg/AvonOriole Estates7235 Oriole WayAvonIN46123376Prospective
21 - Plainfield/Brownsburg/AvonSouth Green Street3080 South Green StreetBrownsburgIN46112198Prospective
21 - Plainfield/Brownsburg/AvonVillage Place TownhomesNorth County Road 900 East & Prairie TrailAvonIN46123110Prospective
21 - Plainfield/Brownsburg/AvonWestwind Apartments at West WynneSouth Green Street & Northfield DriveBrownsburgIN46112168Planned
22 - LebanonGreenview Phase II5790 Sunrise WayWhitestownIN46075188Under Construction
22 - LebanonLebanon Senior2802 North State Road 39LebanonIN4605259Prospective
22 - LebanonMaddox, The6905 South 525 EastWhitestownIN46075400Prospective
23 - ZionsvilleAdler, TheSEC South 700 East & Grove PassZionsvilleIN46077179Planned
23 - ZionsvilleEast 425 South & South 700 EastEast 425 South & South 700 EastWhitestownIN46075283Prospective
23 - ZionsvilleLauth390 South Main StreetZionsvilleIN4607750Prospective
23 - ZionsvillePeabodyEast 450 South & 575 EastWhitestownIN46075604Prospective
23 - ZionsvilleSylo11550 Pittman Farms DriveZionsvilleIN46077400Under Construction
23 - ZionsvilleTrulo Homes at Bridle Creek3918 Blue Roan BlvdWhitestownIN46075202Under Construction
23 - ZionsvilleWild AirMarysville Road & West Oak StreetZionsvilleIN46077280Planned
24 - CarmelAT&T Site Redevelopment210 3rd Avenue SWCarmelIN46032244Planned
24 - CarmelClay Terrace Redevelopment14390 Clay Terrace BlvdCarmelIN46032290Prospective
24 - CarmelEast 111th Street185 East 111th StreetIndianapolisIN46280500Prospective
24 - CarmelEdge at West Carmel, The11335 North Michigan RoadCarmelIN46077252Planned
24 - CarmelGramercy Redevelopment945 Mohawk Hills DriveCarmelIN46032771Prospective
24 - CarmelIcon on Main1017 West Main StreetCarmelIN46032266Under Construction
24 - CarmelMonon Square NorthCity Center Drive & South Rangeline RoadCarmelIN46032371Prospective
24 - CarmelOld MeridianFairfax Manor Drive & Old Meridian StreetCarmelIN46032263Prospective
25 - FishersCityViewEast 116th Street & Lantern RoadFishersIN46038184Planned
25 - FishersDistrict at Hyde Park, TheEast 141st Street & Brooks School RoadNoblesvilleIN46060300Planned
25 - FishersDistrict SouthMaple Street & South StreetFishersIN4603882Planned
25 - FishersGateway at Hyde Park, TheBrooks School Road & Campus PkwyNoblesvilleIN46060236Prospective
25 - FishersGray Eagle Golf Club12500 Brooks School RoadFishersIN46037149Prospective
25 - FishersHyde ParkBoden Road & Campus PkwyNoblesvilleIN4606050Prospective
25 - FishersHyde Park Towns and FlatsEast 141st Street & Brooks School RoadNoblesvilleIN46060258Planned
25 - FishersHyde Park Towns and Flats Phase IIEast 141st Street & Brooks School RoadNoblesvilleIN46060100Prospective
25 - FishersRiver Place5705 Apex DriveFishersIN46038381Under Construction
25 - FishersUnion, TheEast 116th Street & State Highway 69FishersIN46038250Planned
25 - FishersWoods of Britton Phase II, The13791 Old Oak DriveFishersIN46038130Prospective
26 - Westfield - NoblesvilleBel CantoEast 169th Street & Westfield BlvdWestfieldIN46074300Prospective
26 - Westfield - NoblesvilleEverGreenFisherburg Avenue & Pendleton AvenueNoblesville TownshipIN46060100Prospective
26 - Westfield - NoblesvilleMidland PointeSEC Hazel Dell Pkwy & State Road 32NoblesvilleIN46062256Planned
26 - Westfield - NoblesvilleMillennium, The17250 Westfield BlvdWestfieldIN46074500Planned
26 - Westfield - NoblesvilleNoblesville Milling Redevelopment551 South 6th StreetNoblesvilleIN46060238Prospective
26 - Westfield - NoblesvilleParkside at Finch Creek Area DNEC 156th Street & Boden RoadNoblesvilleIN46060495Prospective
26 - Westfield - NoblesvilleTownes at Grand Park VillageWest 186th Street & Kinsey AvenueWestfieldIN4607477Prospective
26 - Westfield - NoblesvilleTrails of Westfield, The801 East 175th StreetWestfieldIN46074223Prospective
26 - Westfield - NoblesvilleUnion SquareWest Main Street & North Union StreetWestfieldIN46074196Planned
26 - Westfield - NoblesvilleVista, The14744 Malachi RoadNoblesvilleIN46062146Planned
26 - Westfield - NoblesvilleWheelhouse Apartments on the Monon Phase II835 Virginia Rose AvenueWestfieldIN46074148Prospective
27 - AndersonHighland ParkLindberg Road & Shepherd RoadAndersonIN46012111Prospective
28 - Muncie500 South Mulberry Street500 South Mulberry StreetMuncieIN4730559Planned
28 - MuncieVillage, TheMcKinley Avenue & University AvenueMuncieIN47303100Prospective
29 - Bloomington - north17th Street & Arlington RoadNEC West 17th Street & West Arlington RoadBloomingtonIN47404213Planned
30 - Bloomington - westHabitat For HumanityWest Duvall Road & West Koontz RoadBloomingtonIN47403260Prospective
30 - Bloomington - westHillside Drive300 West Hillside DriveBloomingtonIN47403123Prospective
30 - Bloomington - westWestgate on Third4755 West State Road 48BloomingtonIN47404330Planned
1 - Indianapolis - Downtown222 Alabama Street222 Alabama StreetIndianapolisIN46204190Planned
1 - Indianapolis - DowntownGold Building151 East Ohio StreetIndianapolisIN46204340Planned
1 - Indianapolis - DowntownRise on Meridian915 South Meridian StreetIndianapolisIN46225269Under Construction
2 - Indianapolis - CenterBakery Living1331 East Washington StreetIndianapolisIN46202200Planned
2 - Indianapolis - CenterHall Place1720 North Illinois StreetIndianapolisIN46202273Prospective
2 - Indianapolis - CenterMonon 221011 East 22nd StreetIndianapolisIN46202111Prospective
2 - Indianapolis - CenterStella, The1827 North Meridian StreetIndianapolisIN46202166Under Construction
2 - Indianapolis - CenterVanguard, The1350 Waterway BlvdIndianapolisIN46202285Under Construction
11 - Indianapolis - Washington eastMonon Living: Court Redevelopment6102 Carvel AvenueIndianapolisIN46220187Prospective
24 - CarmelConcourse, The511 3rd Avenue SWCarmelIN4603299Planned
29 - Bloomington - northHub Bloomington2038 North Walnut StreetBloomingtonIN47404170Under Construction

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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

Nate-Ulepich

Nate Ulepich

Director of Revenue Operations and National Team Coordinator

nate.ulepich@mmgrea.com

Brett

Brett Meinzer

Managing Director

brett.meinzer@mmgrea.com

David-Huey

David Huey

Senior Director

david.huey@mmgrea.com

Kendall Adams

Kendall Adams

Senior Advisor

kendall.adams@mmgrea.com

Headshot Corporate Business Portrait for MMG at Fontaine Hotel in Kansas City by Kevin Ashley Photography I Kansas City and Overland Park Headshot Photographer. Headshots, Portraits, Weddings and Commercial Photography.

Ryan Carter

Associate Advisor

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Brett Sanchez-1

Brett Sanchez

Associate Advisor

brett.sanchez@mmgrea.com

Thomas

Thomas Skevington

Senior Advisor

thomas.skevington@mmgrea.com

Kyle

Kyle Winston

Senior Advisor

kyle.winston@mmgrea.com

Chris Wilson_2023

Chris Wilson

Associate Advisor

chris.wilson@mmgrea.com

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AS FEATURED IN

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.

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