CONSTRUCTION PIPELINE

Indianapolis Q1 2025

0

UNITS UNDER CONSTRUCTION

0

IN PRE-LEASE /
LEASE UP PHASE

0

UNITS PLANNED

0

PROSPECTIVE UNITS

Construction Pipeline

Pre-Lease Absorption Rate by Month

Forecasted Delivery Dates

Pipeline Status Breakdown by City

Pipeline Data Map

Disclaimer: The property data depicted in our maps 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 2/15/2025, 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 NameProperty AddressCityStateZip CodeUnit CountProperty StatusForecasted Completion DateStart Of Rent Up
Grounds, The2136 Central AvenueIndianapolisIN46202236In Pre-Lease/Lease Up Phase6/30/246/1/24
Meridian Homes at Sycamore Drive6654 Willow WayMcCordsvilleIN46055153In Pre-Lease/Lease Up Phase7/31/246/1/24
Maverick370 Homestead AvenueGreenwoodIN46143226In Pre-Lease/Lease Up Phase7/31/247/1/24
Trulo Homes at Bridle Creek3918 Blue Roan BlvdWhitestownIN46075202In Pre-Lease/Lease Up Phase7/31/247/1/24
Arlington Farms2755 Red Bloom DriveGreenwoodIN46143408In Pre-Lease/Lease Up Phase8/31/247/1/24
River Place Flats5705 Apex DriveFishersIN46250381In Pre-Lease/Lease Up Phase9/30/247/1/24
James at Chatham Hills, The20021 Chad Hittle DriveWestfieldIN46074250In Pre-Lease/Lease Up Phase9/30/249/1/24
Hobbs Station2870 Pearson PkwyPlainfieldIN46168293In Pre-Lease/Lease Up Phase12/31/2411/1/24
Versa6220 Guilford AvenueIndianapolisIN46220232In Pre-Lease/Lease Up Phase3/31/252/1/25
East Bank490 Maple AvenueNoblesvilleIN46060219In Pre-Lease/Lease Up Phase3/31/252/1/25
Nook Nine9433 Avant AvenueIndianapolisIN46240319Under Construction4/30/25
VER at Proscenium Phase II1225 Veterans WayCarmelIN4603250Under Construction4/30/25
Sylo11550 Pittman Farms DriveZionsvilleIN46077400Under Construction5/31/25
Union SquareWest Main Street & North Union StreetWestfieldIN46074196Under Construction6/30/25
Grove, The5825 Sunset WayWhitestownIN46075188Under Construction6/30/25
Stella, The1827 North Meridian StreetIndianapolisIN46202166Under Construction6/30/25
Vista, The14744 Malachi RoadNoblesvilleIN46062146Under Construction6/30/25
Churchwoods320 Chapel DrLafayetteIN47909127Under Construction7/1/25
Icon on Main1017 West Main StreetCarmelIN46032266Under Construction8/31/25
District SouthMaple Street & South StreetFishersIN4603884Under Construction8/31/25
Vanguard, The1350 Waterway BlvdIndianapolisIN46202285Under Construction9/30/25
Jacob, The2110 East Southport RoadIndianapolisIN4622793Under Construction10/31/25
Eastway Court Phase II42 Manor DriveGreenfieldIN46140192Under Construction3/31/26
AT&T Redevelopment210 3rd Avenue SWCarmelIN46032244Under Construction3/31/26
Highland ParkLindberg Road & Shepherd RoadAndersonIN46012111Under Construction4/30/26
Flats at Heartland Crossing8396 Gunnoah Way EastBrownsburgIN46112228Under Construction4/30/26
John Purdue BlockNorth 2nd Street & South StreetLafayetteIN47901157Under Construction7/1/26
Edge at West Carmel, The11335 North Michigan RoadCarmelIN46077252Under Construction7/31/26
Towns and Flats at Hyde ParkEast 141st Street & Brooks School RoadNoblesvilleIN46060258Under Construction8/31/26
BroadAcre5871 BroadAcre DriveMcCordsvilleIN46055256Under Construction10/31/26
Benjamin, The9310 East 56th StreetLawrenceIN46216220Under Construction10/31/26
East 425 South & South 700 EastEast 425 South & South 700 EastWhitestownIN46075284Under Construction10/31/26
Millennium, The17250 Westfield BlvdWestfieldIN46074500Planned
Ashton Place7511 New Augusta RoadIndianapolisIN46268174Planned
Townes at Grand Park VillageWest 186th Street & Kinsey AvenueWestfieldIN4607477Planned
Village at Hyde ParkEast 141st Street & Marilyn RoadNoblesvilleIN46060256Planned
Hobbs Station Phase II2870 Pearson PkwyPlainfieldIN46168357Planned
Elements - Broad Ripple Residences On The Water6729 Westfield BlvdIndianapolisIN46220168Planned
Midland Pointe5890 Midland Pointe BlvdNoblesvilleIN46062256Planned
Gold Building151 East Ohio StreetIndianapolisIN46204354Planned
Monon Square NorthNWC City Center Drive & South Rangeline RoadCarmelIN46032371Planned
PeabodyEast 450 South & 575 EastWhitestownIN4607587Planned
Gateway at Hyde Park, TheBrooks School Road & Campus PkwyNoblesvilleIN46060236Planned
District at Hyde Park, TheEast 141st Street & Brooks School RoadNoblesvilleIN46060300Planned
Adler, TheSEC South 700 East & Grove PassZionsvilleIN46077179Planned
Wild Air TrailsMarysville Road & West Oak StreetZionsvilleIN46077290Planned
CityViewEast 116th Street & Lantern RoadFishersIN46038184Planned
222 Alabama Street222 Alabama StreetIndianapolisIN46204186Planned
220 Meridian Phase II220 North Meridian StreetIndianapolisIN46204100Planned
Parkside at Finch Creek Area DNEC 156th Street & Boden RoadNoblesvilleIN46060495Planned
Union at Fishers District, TheSEC IKEA Way & USA PkwyFishersIN46038250Planned
500 South Mulberry Street500 South Mulberry StreetMuncieIN4730559Planned
501 Indiana Avenue501 Indiana AvenueIndianapolisIN46202263Planned
Easton Grey5918 Rockville RoadAvonIN46123100Planned
New PalestineSouth 600 West & US Highway 52New PalestineIN46163282Planned
Trails of Westfield, The801 East 175th StreetWestfieldIN46074223Prospective
Square, The3500 Lafayette RoadIndianapolisIN46222100Prospective
Hanna International Lofts38th Street & Lafayette RoadIndianapolisIN4625480Prospective
Flats on Main2760 East Main StreetPlainfieldIN4616860Prospective
EverGreenFisherburg Avenue & Pendleton AvenueNoblesville TownshipIN46060100Prospective
M222204 North Meridian StreetIndianapolisIN46208127Prospective
Clay Terrace Redevelopment14390 Clay Terrace BlvdCarmelIN46032290Prospective
Hubbard Gardens Renovation4004 Meadows DriveIndianapolisIN46205328Prospective
Union House108 East McCarty StreetIndianapolisIN46225160Prospective
Tremont Town CenterBridgeport Road & Rockville RoadIndianapolisIN46234478Prospective
Grounds Phase II, The2136 Central AvenueIndianapolisIN4620284Prospective
Franklin Road4005 North Franklin RoadIndianapolisIN46226200Prospective
Knollwood Farms3614 US Highway 31 SouthFranklinIN46131100Prospective
Redwood Greenwood Phase II5934 Redwood WayGreenwoodIN4614375Prospective
Gray Eagle Golf Club12500 Brooks School RoadFishersIN46037149Prospective
Monon Living: Court Redevelopment6102 Carvel AvenueIndianapolisIN46220187Prospective
Noblesville Milling Redevelopment551 South 6th StreetNoblesvilleIN46060238Prospective
Morningside at McCordsville6277 West 600 NorthMcCordsvilleIN46055100Prospective
Commerce GroveState Route 135 & East Two Cent RoadBargersvilleIN46131100Prospective
Meridian North9449 North Meridian StreetIndianapolisIN46260600Prospective
Lebanon Senior2802 North State Road 39LebanonIN4605259Prospective
Lee BoulevardLee Blvd & Progress PkwyShelbyvilleIN46176120Prospective
Elmwood Wynne FarmsNorth Green Street & North Northfield DriveBrownsburgIN4611250Prospective
LINK921 Virginia AvenueIndianapolisIN46203204Prospective
Bel CantoEast 169th Street & Westfield BlvdWestfieldIN46074300Prospective
AccoladeEast 300 North & Progress PkwyGreenfieldIN46140240Prospective
Concourse, The511 3rd Avenue SWCarmelIN4603299Prospective
Hall Place1720 North Illinois StreetIndianapolisIN46202273Prospective
McFarland Blvd7525 McFarland BlvdIndianapolisIN46237172Prospective
Wulsin Building Redevelopment222 East Ohio StreetIndianapolisIN4620457Prospective
242 Market Street242 East Market StreetIndianapolisIN4620460Prospective
Towns and Flats at Hyde Park Phase IIEast 141st Street & Brooks School RoadNoblesvilleIN46060100Prospective
Eleven Park402 Kentucky AvenueIndianapolisIN46225600Prospective
Oriole Estates7235 Oriole WayAvonIN46123376Prospective
East 111th Street185 East 111th StreetIndianapolisIN46280500Prospective
Bakery Living1331 East Washington StreetIndianapolisIN46202200Prospective
Clearwater4016 East 82nd StreetIndianapolisIN46250299Prospective
Greenwood Luxury948 Greenwood Springs DriveGreenwoodIN46143202Prospective
Gateway Flats205 Paris DriveFranklinIN46131163Prospective
Alexander at the Crossing2730 East 86th StreetIndianapolisIN46240275Prospective
Bridgeport Arts Village8018 West Washington StreetIndianapolisIN46231257Prospective
East 56th StreetEast 56th Street & North County Road 900 EastBrownsburgIN46112420Prospective
Cityscape AvonSEC East County Road 100 South & Ronald Reagan PkwyAvonIN46123304Prospective
South Green Street3080 South Green StreetBrownsburgIN46112198Prospective
Stutz II217 West 10th StreetIndianapolisIN46204275Prospective
Ewing Street3737 East Washington StreetIndianapolisIN4620163Prospective
Westwind Apartments at West WynneSouth Green Street & Northfield DriveBrownsburgIN46112168Prospective
Maddox, The6905 South 525 EastWhitestownIN46075400Prospective
ParkfieldWest 600 North & North Short RoadMcCordsvilleIN46055166Prospective
Edgewood & Emerson4822 East Edgewood AvenueIndianapolisIN46204332Prospective
Wheelhouse Apartments on the Monon Phase II835 Virginia Rose AvenueWestfieldIN46074148Prospective
Ingram, The1411 Roosevelt AvenueIndianapolisIN46201185Prospective
Lauth390 South Main StreetZionsvilleIN4607750Prospective
Palladium3601 US Highway 31 SouthFranklinIN46131312Prospective
Village, TheNorth McKinley Avenue & West University AvenueMuncieIN47303100Prospective
Monon 221011 East 22nd StreetIndianapolisIN46202111Prospective
Center Grove Park3111 North State Road 135GreenwoodIN46143575Prospective
Meadowbrook3895 North State Road 135BargersvilleIN46106412Prospective
Polk1129 East 16th StreetIndianapolisIN46202276Prospective
Gramercy Redevelopment945 Mohawk Hills DriveCarmelIN46032771Prospective
VER at Proscenium Phase III1225 Veterans WayCarmelIN46032151Prospective
Westfield YardGray Road & Westfield RoadNoblesvilleIN4606275Prospective
Morse VillageEast 206th Street & Hague DriveNoblesvilleIN46062650Prospective
Ambrose on MainWest 176th Street & Spring Mill RoadWestfieldIN4607487Prospective
130 East Washington Street130 East Washington StreetIndianapolisIN46204180Prospective
Padgett CommonsEast 550 South & Perry Worth RoadWhitestownIN46075120Prospective
LEO at CarmelCommunity Drive & Equality BlvdCarmelIN46033350Prospective
Meridian Trails201 West 106th StreetIndianapolisIN46290169Prospective
Park and PoplarPark Street & Westfield BlvdWestfieldIN46074247Prospective
Serenity CommonsHeartland Blvd & Raceway DriveCambyIN46113168Prospective
Centennial of Brownsburg2900 North County Road 900 EastBrownsburgIN46112179Prospective
Solstice7001 South Indianapolis RoadWhitestownIN46075288Prospective
Nook Nine Phase II9433 Avant AvenueIndianapolisIN46240100Prospective
Interurban, The220 East Front StreetDelphiIN4692368In Pre-Lease/Lease Up Phase5/1/24
Imagination Lofts703 North 4th StreetLafayetteIN4790156Planned
Concord Crossing Phase II2520 Lila WayLafayetteIN47909800Planned
Redwood Lafayette Phase II3000 Tantara WayLafayetteIN4790957Prospective
Anvil 26North 27th Street & South StreetLafayetteIN4790467Prospective
Uplands at Park East, TheKettle Circle & Park East BlvdLafayetteIN47905312Prospective
Standard at West Lafayette, The210 West Wood StretWest LafayetteIN47906253Prospective
Research VillageNorth 100 West & Yeager RoadWest LafayetteIN47906446Prospective
Hometown CottagesCase Drive & East Wabash StreetFrankfortIN4604158Prospective

METHODOLOGY

Kevin Burns

Kevin Burns

Senior Advisor

kevin.burns@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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