CONSTRUCTION PIPELINE

Indianapolis 3Q 2024

0

UNITS UNDER CONSTRUCTION

0

IN PRE-LEASE /
LEASE UP PHASE

0

UNITS PLANNED

0

PROSPECTIVE UNITS

0

2024 MONTHLY AVG. PRE-LEASE ABSORPTION

0

T24 MONTHLY AVG. PRE-LEASE ABSORPTION

pipeline trends

Share of Inventory Under Construction or in Lease-Up

Pre-Lease Absorption Rate by Month

Multifamily Starts

Construction Pipeline

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 8/15/2024, 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
Retreat @ the Switchyard1730 South Walnut StreetBloomingtonIN4740166Under Construction8/31/24
Rise on Meridian915 South Meridian StreetIndianapolisIN46225269Under Construction8/31/24
Flats at Stones Crossing1490 Saint Clare WayGreenwoodIN46143292In Pre-Lease/Lease Up Phase9/30/2411/1/22
Links at Franklin, The1902 Sawgrass DriveFranklinIN46131140In Pre-Lease/Lease Up Phase9/30/2412/1/22
Federal Hill196 Westfield RoadNoblesvilleIN46060222In Pre-Lease/Lease Up Phase9/30/246/1/23
ARLO5945 Arlo DriveIndianapolisIN46237288In Pre-Lease/Lease Up Phase9/30/246/23/23
Madison at Greenwood, The523 South Madison AvenueGreenwoodIN46142329In Pre-Lease/Lease Up Phase9/30/247/6/23
THIRD4500 East 3rd StreetBloomingtonIN47401175In Pre-Lease/Lease Up Phase9/30/2410/1/23
Lakeside Apartments of Carmel Phase II12484 Breaklines StreetCarmelIN46032110In Pre-Lease/Lease Up Phase9/30/2412/1/23
Edge, The1835 Edge BlvdIndianapolisIN46240376In Pre-Lease/Lease Up Phase9/30/241/1/24
State at Fishers10510 Kings Way RoadFishersIN46037261In Pre-Lease/Lease Up Phase9/30/241/1/24
GrandView18183 Wheeler RoadWestfieldIN46074158In Pre-Lease/Lease Up Phase9/30/245/1/24
East Bank490 Maple AvenueNoblesvilleIN46060219In Pre-Lease/Lease Up Phase9/30/245/4/24
Arlington Farms6580 East County Line RoadGreenwoodIN46143408In Pre-Lease/Lease Up Phase9/30/245/15/24
Signature Carmel, The13111 Old Meridian StreetCarmelIN46032303In Pre-Lease/Lease Up Phase10/31/243/1/24
Grounds, The2136 Central AvenueIndianapolisIN46202236In Pre-Lease/Lease Up Phase10/31/246/1/24
E, The5821 Elevated WayWhitestownIN46075408In Pre-Lease/Lease Up Phase12/31/245/22/23
Wheelhouse Apartments on the Monon835 Virginia Rose AvenueWestfieldIN46074214In Pre-Lease/Lease Up Phase12/31/2410/3/23
Redwood Greenfield2982 Red Spruce DriveGreenfieldIN46140132In Pre-Lease/Lease Up Phase12/31/241/30/24
Domino at Monon 303132 Dr. Andrew J. Brown AvenueIndianapolisIN46205230In Pre-Lease/Lease Up Phase1/31/251/12/24
Versa6220 Guilford AvenueIndianapolisIN46220232In Pre-Lease/Lease Up Phase1/31/253/15/24
Steadman, The11325 Spring Mill RoadCarmelIN46032263In Pre-Lease/Lease Up Phase2/28/251/3/24
Tempo at Grand Park18237 John Dippel BlvdWestfieldIN46074240In Pre-Lease/Lease Up Phase2/28/255/1/24
Hobbs Station2537 Smith RoadPlainfieldIN46168293Under Construction2/28/25
Maverick370 Homestead AvenueGreenwoodIN46143226In Pre-Lease/Lease Up Phase4/30/257/1/24
Meridian Homes at Sycamore Drive6654 Willow WayMcCordsvilleIN46055153In Pre-Lease/Lease Up Phase5/31/255/2/24
Sylo11550 Pittman Farms DriveZionsvilleIN46077400Under Construction5/31/25
Vista, The14744 Malachi RoadNoblesvilleIN46062146Under Construction6/30/25
Hub Bloomington2038 North Walnut StreetBloomingtonIN47404170Under Construction6/30/25
Greenview Phase II5790 Sunrise WayWhitestownIN46075188Under Construction6/30/25
Stella, The1827 North Meridian StreetIndianapolisIN46202166Under Construction6/30/25
Trulo Homes at Bridle Creek3918 Blue Roan BlvdWhitestownIN46075202Under Construction6/30/25
Union SquareWest Main Street & North Union StreetWestfieldIN46074196Under Construction6/30/25
Icon on Main1017 West Main StreetCarmelIN46032266Under Construction8/31/25
Vanguard, The1350 Waterway BlvdIndianapolisIN46202285Under Construction9/30/25
River Place Flats5705 Apex DriveFishersIN46250381In Pre-Lease/Lease Up Phase12/31/257/1/24
Westgate on Third4755 West State Road 48BloomingtonIN47404330Under Construction3/31/26
17th Street & Arlington RoadNEC West 17th Street & West Arlington RoadBloomingtonIN47404213Under Construction4/30/26
Square, The3500 Lafayette RoadIndianapolisIN46222100Prospective
Easton Grey5918 Rockville RoadAvonIN46123100Prospective
Center Grove Park3111 North State Road 135GreenwoodIN46143575Prospective
East 56th StreetEast 56th Street & North County Road 900 EastBrownsburgIN46112420Prospective
Maddox, The6905 South 525 EastWhitestownIN46075400Prospective
South Green Street3080 South Green StreetBrownsburgIN46112198Prospective
Alexander at the Crossing2730 East 86th StreetIndianapolisIN46240275Prospective
Cityscape AvonSEC East County Road 100 South & Ronald Reagan PkwyAvonIN46123304Prospective
Gateway Flats205 Paris DriveFranklinIN46131163Prospective
Bridgeport Arts Village8018 West Washington StreetIndianapolisIN46231257Prospective
Stutz II217 West 10th StreetIndianapolisIN46204275Prospective
Wheelhouse Apartments on the Monon Phase II835 Virginia Rose AvenueWestfieldIN46074148Prospective
Lauth390 South Main StreetZionsvilleIN4607750Prospective
Palladium3601 US Highway 31 SouthFranklinIN46131312Prospective
Ingram, The1411 Roosevelt AvenueIndianapolisIN46201185Prospective
Ewing Street3737 East Washington StreetIndianapolisIN4620163Prospective
Gramercy Redevelopment945 Mohawk Hills DriveCarmelIN46032771Prospective
Polk Subdivision1129 East 16th StreetIndianapolisIN46202276Prospective
Flats @ Heartland, The8396 Gunnoah Way EastBrownsburgIN46112238Prospective
Parkside at Finch Creek Area DNEC 156th Street & Boden RoadNoblesvilleIN46060495Prospective
Monon 221011 East 22nd StreetIndianapolisIN46202111Prospective
East 425 South & South 700 EastEast 425 South & South 700 EastWhitestownIN46075283Prospective
501 Indiana Avenue501 Indiana AvenueIndianapolisIN46202262Prospective
Meadowbrook3895 North State Road 135BargersvilleIN46106404Prospective
Edgewood & Emerson4822 East Edgewood AvenueIndianapolisIN46204332Prospective
Village, TheNorth McKinley Avenue & West University AvenueMuncieIN47303100Prospective
Monon Living: Court Redevelopment6102 Carvel AvenueIndianapolisIN46220187Prospective
Gray Eagle Golf Club12500 Brooks School RoadFishersIN46037149Prospective
Noblesville Milling Redevelopment551 South 6th StreetNoblesvilleIN46060238Prospective
Lebanon Senior2802 North State Road 39LebanonIN4605259Prospective
Meridian North9449 North Meridian StreetIndianapolisIN46260600Prospective
Commerce GroveState Route 135 & East Two Cent RoadBargersvilleIN46131450Prospective
Morningside at McCordsville6277 West 600 NorthMcCordsvilleIN46055100Prospective
Elmwood Wynne FarmsNorth Green Street & North Northfield DriveBrownsburgIN4611250Prospective
LINK921 Virginia AvenueIndianapolisIN46203204Prospective
Bel CantoEast 169th Street & Westfield BlvdWestfieldIN46074300Prospective
Towns and Flats at Hyde Park Phase IIEast 141st Street & Brooks School RoadNoblesvilleIN46060100Prospective
Eleven Park402 Kentucky AvenueIndianapolisIN46225600Prospective
242 Market Street242 East Market StreetIndianapolisIN4620460Prospective
Village Place TownhomesNorth County Road 900 East & Prairie TrailAvonIN46123110Prospective
Hall Place1720 North Illinois StreetIndianapolisIN46202273Prospective
McFarland Blvd7525 McFarland BlvdIndianapolisIN46237172Prospective
McFarland Boulevard Senior7525 McFarland BlvdIndianapolisIN46237135Prospective
Georgia & PennsylvaniaEast Georgia Street & South Pennsylvania StreetIndianapolisIN46204254Prospective
Clearwater4016 East 82nd StreetIndianapolisIN46250299Prospective
East 111th Street185 East 111th StreetIndianapolisIN46280500Prospective
PeabodyEast 450 South & 575 EastWhitestownIN46075604Prospective
Oriole Estates7235 Oriole WayAvonIN46123376Prospective
Trails of Westfield, The801 East 175th StreetWestfieldIN46074223Prospective
351 West351 West 10th StreetIndianapolisIN46202285Prospective
Woods of Britton Phase II, The13791 Old Oak DriveFishersIN46038130Prospective
M222204 North Meridian StreetIndianapolisIN46208127Prospective
Hubbard Gardens Renovation4004 Meadows DriveIndianapolisIN46205328Prospective
Habitat For HumanityWest Duvall Road & West Koontz RoadBloomingtonIN47403260Prospective
EverGreenFisherburg Avenue & Pendleton AvenueNoblesville TownshipIN46060100Prospective
Clay Terrace Redevelopment14390 Clay Terrace BlvdCarmelIN46032290Prospective
Hanna International Lofts38th Street & Lafayette RoadIndianapolisIN4625480Prospective
Flats on Main2760 East Main StreetPlainfieldIN4616860Prospective
Redwood Greenwood Phase II5934 Redwood WayGreenwoodIN4614375Prospective
Grounds Phase II, The2136 Central AvenueIndianapolisIN4620284Prospective
Knollwood Farms3614 US Highway 31 SouthFranklinIN46131100Prospective
Union House108 East McCarty StreetIndianapolisIN46225160Prospective
Franklin Road4005 North Franklin RoadIndianapolisIN46226200Prospective
Hillside Drive300 West Hillside DriveBloomingtonIN47403123Prospective
Tremont Town CenterBridgeport Road & Rockville RoadIndianapolisIN46234478Prospective
New PalestineSouth 600 West & US Highway 52New PalestineIN46163282Planned
District SouthMaple Street & South StreetFishersIN4603882Planned
500 South Mulberry Street500 South Mulberry StreetMuncieIN4730559Planned
Adler, TheSEC South 700 East & Grove PassZionsvilleIN46077179Planned
Greenwood Luxury948 Greenwood Springs DriveGreenwoodIN46143202Planned
222 Alabama Street222 Alabama StreetIndianapolisIN46204190Planned
ParkfieldWest 600 North & North Short RoadMcCordsvilleIN46055166Planned
Wild Air TrailsMarysville Road & West Oak StreetZionsvilleIN46077280Planned
Westwind Apartments at West WynneSouth Green Street & Northfield DriveBrownsburgIN46112168Planned
Union at Fishers District, TheSEC IKEA Way & USA PkwyFishersIN46038250Planned
220 Meridian Phase II220 North Meridian StreetIndianapolisIN46204100Planned
Jacob, The2110 East Southport RoadIndianapolisIN4622793Planned
CityViewEast 116th Street & Lantern RoadFishersIN46038184Planned
Eastway Court Phase II42 Manor DriveGreenfieldIN46140192Planned
Highland ParkLindberg Road & Shepherd RoadAndersonIN46012111Planned
Townes at Grand Park VillageWest 186th Street & Kinsey AvenueWestfieldIN4607477Planned
Mt. Comfort CorridorSWC West 600 North & Mt. Comfort RoadMcCordsvilleIN46055256Planned
Village at Hyde ParkEast 141st Street & Marilyn RoadNoblesvilleIN46060256Planned
Lee BoulevardLee Blvd & Progress PkwyShelbyvilleIN46176120Planned
Edge at West Carmel, The11335 North Michigan RoadCarmelIN46077252Planned
Hobbs Station Phase II2537 Smith RoadPlainfieldIN46168357Planned
AT&T Site Redevelopment210 3rd Avenue SWCarmelIN46032244Planned
Towns and Flats at Hyde ParkEast 141st Street & Brooks School RoadNoblesvilleIN46060258Planned
Elements - Broad Ripple Residences On The Water6729 Westfield BlvdIndianapolisIN46220168Planned
Concourse, The511 3rd Avenue SWCarmelIN4603299Planned
AccoladeEast 300 North & Progress PkwyGreenfieldIN46140240Planned
Gold Building151 East Ohio StreetIndianapolisIN46204354Planned
Midland PointeSEC Hazel Dell Pkwy & State Road 32NoblesvilleIN46062256Planned
Old Meridian12865 Old Meridian StreetCarmelIN46032256Planned
Monon Square NorthNWC City Center Drive & South Rangeline RoadCarmelIN46032371Planned
District at Hyde Park, TheEast 141st Street & Brooks School RoadNoblesvilleIN46060300Planned
Bakery Living1331 East Washington StreetIndianapolisIN46202200Planned
Benjamin, The9310 East 56th StreetLawrenceIN46216220Planned
Gateway at Hyde Park, TheBrooks School Road & Campus PkwyNoblesvilleIN46060236Planned
Ashton Place7511 New Augusta RoadIndianapolisIN46268174Planned
Millennium, The17250 Westfield BlvdWestfieldIN46074500Planned

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

Thomas

Thomas Skevington

Senior Advisor

thomas.skevington@mmgrea.com

Kyle

Kyle Winston

Senior Advisor

kyle.winston@mmgrea.com

Jake Sullivan_2023

Jake Sullivan

Associate Advisor

jake.sullivan@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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