{"id":38403,"date":"2016-04-20T05:00:10","date_gmt":"2016-04-20T12:00:10","guid":{"rendered":"http:\/\/www.rentcafe.com\/blog\/?p=38403"},"modified":"2016-04-20T05:35:01","modified_gmt":"2016-04-20T12:35:01","slug":"indianapolis-metro-area-saw-an-increase-of-3542-new-rental-units-in-2015","status":"publish","type":"post","link":"https:\/\/www.rentcafe.com\/blog\/rental-market\/indianapolis-metro-area-saw-an-increase-of-3542-new-rental-units-in-2015\/","title":{"rendered":"Indy Market Revs Up in 2015\u20143,500 New Units to Choose From in Indianapolis"},"content":{"rendered":"

The Indianapolis rental market has changed gears in 2015 and thousands of new apartments<\/a> came online. Although the metro\u2019s 2014 performance\u2014when 2,159 units were delivered in 14 properties \u2014 was nothing to be ashamed of, the area saw even more development in 2015. A whopping 19 apartment buildings\u00a0with 50+ units reached completion last year, adding up to 3,542 units to Indy’s rental inventory<\/strong>.<\/p>\n

Variety-wise, it\u2019s safe to say that developers have done a good job as there seems to be a new build for every taste and budget. Virtually all segments were covered from affordable to luxury, but higher-end properties account for most of the new inventory. Alongside the desirable downtown properties, quite a lot of high-profile suburban communities hit the market, such as The Hamilton in Fishers <\/a>or The Bridgewater in Carmel<\/a>. The Zionsville, Avon and Westfield <\/a>suburbs also saw grand openings of properties with well above 200 units.<\/p>\n

We wanted to offer you a peek, so we reached for our handy Yardi Matrix<\/a> database and compiled a list of the largest projects in terms of number of units. Here are the top 10 developments encompassing no less than 2,565 apartments:<\/strong><\/p>\n

#10. Southern Dunes<\/b>: 224 rental units
\n<\/span><\/h2>\n

\"Southern<\/p>\n

\"Southern<\/p>\n

Completed: 12\/18\/2015
\n<\/strong><\/h3>\n
\n

Address<\/strong>: 7247 Vista Circle, Indianapolis, IN 46217<\/a>
\nRental types<\/strong>: 112 one-bedroom apartments, 92 two-bedroom apartments, 20 three-bed apartments
\nProperty size<\/strong>: 220,888 sq.ft., 11 three-story buildings (first floor includes parking)
\nShort description<\/strong>: 368 parking spaces. 24-hour fitness center. Car care center. Clubroom. Pool with sundeck. Business center and Cyber Cafe. Outdoor fireplace with grill area. Pet-friendly community.
\nPhoto credits: Southern Dunes Apartments Facebook Page<\/a>
\n<\/em><\/p>\n<\/div>\n

#9. The Hamilton<\/b>: 233 rental units
\n<\/span><\/h2>\n

\"The<\/p>\n

\"The<\/p>\n

Completed: 1\/22\/2015
\n<\/strong><\/h3>\n
\n

Address<\/strong>: 11289\u00a0 Hamilton Crest Blvd East, Fishers<\/a>, IN 46037<\/a>
\nRental types<\/strong>: 77 one-bedroom apartments, 126 two-bedroom apartments, 30 three-bed apartments
\nProperty size<\/strong>: 232,678 sq.ft., 35 two- and three-story buildings
\nShort description<\/strong>: 530 parking spaces. Half-court indoor basketball gymnasium. Pool. Fitness center. Pool table. Business lounge. 26 floor-plans. Controlled access. Vaulted ceilings. Fireplaces in select units.
\nPhoto credits: The Hamilton Facebook Page<\/a>
\n<\/em><\/p>\n<\/div>\n

#8. The Bridgewater<\/b>: 240 rental units
\n<\/span><\/h2>\n

\"The<\/p>\n

\"The<\/p>\n

Completed: 6\/02\/2015
\n<\/strong><\/h3>\n
\n

Address<\/strong>: 14916 Riverdale Drive South, Carmel<\/a>, IN 46033<\/a>
\nRental types<\/strong>: 84 one-bedroom apartments, 136 two-bedroom apartments, 20 three-bed apartments
\nProperty size<\/strong>:\u00a0241,946 sq.ft., 16 two- and three-story buildings (first floor includes parking)
\nShort description<\/strong>: 450 parking spaces. Waterscape. Clubhouse. Swimming pool and spa. Fitness center. Private veranda or terrace with storage. Quartz kitchen and bathroom countertops. Extra large windows. Kitchen islands. Garden soaking tubs.
\nPhoto credits: The Bridgewater Apartments Facebook Page<\/a>
\n<\/em><\/p>\n<\/div>\n

#7. The Depot at Nickel Plate<\/b>: 242 rental units
\n<\/span><\/h2>\n

\"The<\/p>\n

\"The<\/p>\n

Completed: 6\/02\/2015
\n<\/strong><\/h3>\n
\n

Address<\/strong>: 8594 East 116th Street, Fishers<\/a>, IN 46038<\/a>
\nRental types<\/strong>: 127 one-bedroom apartments, 113 two-bedroom apartments, 2 three-bed townhouses
\nProperty size<\/strong>:\u00a0238,742 sq.ft., four-story building (first floor includes 17,000 sq.ft. of retail)
\nShort description<\/strong>: 430 parking spaces. Controlled access. Fitness center. Business center. Clubhouse. Swimming pool. Media room.
\nPhoto credits: The Depot at Nickel Plate Facebook Page<\/a>
\n<\/em><\/p>\n<\/div>\n

#6. Casey Acres<\/b>: 252 rental units<\/span><\/h2>\n

\"Casey<\/p>\n

\"Casey<\/p>\n

Completed: 9\/11\/2015<\/strong><\/h3>\n
\n

Address<\/strong>: 1270 Sabrina Way, Westfield<\/a>, IN 46074<\/a>
\nRental types<\/strong>: 76 one-bed apartments, 104 two-bedroom apartments, 48 three-bed apartments, 24 four-bed apartments
\nProperty size<\/strong>:\u00a0251,092 sq.ft., 25 two- and three-story buildings
\nShort description<\/strong>: Affordable, only 25 units are market rate. 506 parking spaces. Waterscape. Clubhouse. Playground. Fitness room. Laundry facilities. Business center. Game room. Pool. Large closets. Dishwashers, refrigerators, full size washer\/dryer connections. Patios\/balconies.
\nPhoto credits: Casey Acres Website<\/a>
\n<\/em><\/p>\n<\/div>\n

#5. The Residences on Ronald Reagan<\/b>: 252 rental units<\/span>
\n<\/b><\/h2>\n

\"The<\/p>\n

\"The<\/p>\n

Completed: 11\/17\/2015<\/strong><\/h3>\n
\n

Address<\/strong>: 631 Ronald Reagan Pkwy, Avon, IN 46123<\/a>
\nRental types<\/strong>: 88 one-bedroom apartments, 108 two-bedroom apartments,\u00a0 56 three-bed apartments
\nProperty size<\/strong>:\u00a0285,708 sq.ft., 15 two- and three-story buildings
\nShort description<\/strong>: 455 parking places. Brick buildings. Patio or deck with each unit. Open-design kitchens. Walk-in closets. 6,900 sq.ft. community center. Swimming pool. Business center. Picnic areas. Pool deck with shade providing pergola. Courtyard kitchen. Children’s playroom. Fitness center.
\nPhoto credits: The Residences on Ronald Reagan Website<\/a>
\n<\/em><\/p>\n<\/div>\n

#4. Arborwood at Mann Road<\/b>: 260 rental units<\/span><\/h2>\n

\u00a0\"Arborwood<\/h2>\n

\"Arborwood<\/h2>\n

Completed: 9\/18\/2015<\/strong><\/h3>\n
\n

Address<\/strong>: 6702 Trunk Way, Indianapolis, IN 46221<\/a>
\nRental types<\/strong>: 84 one-bedroom apartments, 80 two-bedroom apartments, 76 three-bed apartments, 20 four-bed apartments
\nProperty size<\/strong>:\u00a0299,140 sq.ft., 15 one- and two-story buildings
\nShort description<\/strong>: 560 parking spaces. Fitness and business centers. Clubhouse. Swimming pool. Laundry facilities. Washer\/dryer and microwave ovens in all units.
\nPhoto credits: Arborwood at Mann Road Facebook Page<\/a>
\n<\/em><\/p>\n<\/div>\n

#3. Circa<\/b>: 260 rental units <\/strong>
\n<\/span><\/h2>\n

\"Circa<\/p>\n

\"Circa<\/p>\n

Completed: 5\/07\/2015<\/strong><\/h3>\n
\n

Address<\/strong>: 617 North College Avenue, Indianapolis, IN 46204<\/a>
\nRental types<\/strong>: 30 studios, 5 loft studios, 159 one-bedroom apartments, 58 two-bedroom apartments, 8 three-bed apartments
\nProperty size<\/strong>:\u00a0201,305 sq.ft., 5 four- and five-story buildings (first floor includes parking)
\nShort description<\/strong>: 236 parking spaces. Saltwater pool and sundeck. Private garage parking. Outdoor lounge, grill, and fire pit. Controlled access. Bike rental. Cross-training studio. City views. Private balconies. Total electric. Furnished units available. Choice of urban of natural-style homes.
\nPhoto credits: Circa Apartments Facebook Page<\/a>
\n<\/em><\/p>\n<\/div>\n

#2. The Villas by Watermark<\/b>: 266 rental units
\n<\/span><\/h2>\n

\"The<\/p>\n

\"The<\/p>\n

Completed: 6\/03\/2015
\n<\/strong><\/h3>\n
\n

Address<\/strong>: 7145 Anderson Drive, Zionsville, IN 46077<\/a>
\nRental types<\/strong>: 110 one-bed apartments, 110 two-bed apartments, 46 three-bed apartments
\nProperty size<\/strong>: 291,438 sq.ft., 23 two-story buildings
\nShort description<\/strong>: 482 parking spaces. Pet-friendly complex with pet park. 24-hr. fitness center. Clubhouse. Conference room. Game room with pool table. Swimming pool with hot tub and cabanas. Granite countertops. All electric apartments. Garden soaking tubs.
\nPhoto credits: The Villas by Watermark Facebook Page<\/a>
\n<\/em><\/p>\n<\/div>\n

#1. Axis<\/b>: 336 rental units
\n<\/span><\/h2>\n

\"Axis<\/p>\n

\"Axis<\/p>\n

Completed: 4\/21\/2015
\n<\/strong><\/h3>\n
\n

Address<\/strong>:\u00a0401 North Senate Avenue, Indianapolis, IN 46204<\/a>
\nRental types<\/strong>: 36 one-bed\/alcove apartments, 199 one-bed apartments, 100 two-bed apartments, 1 three-bed apartment
\nProperty size<\/strong>:\u00a0300,955 sq.ft., four-, five, and six-story building (first floor includes 45,231 sq.ft. of retail)
\nShort description<\/strong>: 435 parking spaces. Business center. Concierge services. Tall ceilings and oversized windows. contemporary touches. Views of Downtown. Outdoor gardens. Access to storage. Pool. Fitness room. Washer\/dryer and microwave ovens in all units.
\nPhoto credits: Axis Apartments Website<\/a>
\n<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Indianapolis rental market has changed gears in 2015 and thousands of new apartments came online. Although the metro\u2019s 2014 performance\u2014when 2,159 units were delivered in 14 properties \u2014 was nothing to be ashamed of, the area saw even more development in 2015. A whopping 19 apartment buildings\u00a0with 50+ units reached completion last year, adding…<\/p>\n","protected":false},"author":35,"featured_media":38445,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3659],"tags":[],"class_list":["post-38403","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rental-market","gallery-content-unit"],"yoast_head":"\nIndianapolis Rental Market Adds 3,500+ Units in 2015<\/title>\n<meta name=\"description\" content=\"The Indianapolis rental market has changed gears in 2015 and thousands of new apartments came online. Here are the top 10 developments delivered last year.\" \/>\n<meta name=\"robots\" content=\"index, nofollow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/indianapolis-metro-area-saw-an-increase-of-3542-new-rental-units-in-2015\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Indy Market Revs Up in 2015\u20143,500 New Units to Choose From in Indianapolis\" \/>\n<meta property=\"og:description\" content=\"The Indianapolis rental market has changed gears in 2015 and thousands of new apartments came online. 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