Mortgage banking company Merchants Capital recently secured a 66-month loan for Preserve at Blue Road, a workforce multifamily development under construction in Greenfield, Indiana. The deal was closed in partnership with the property developer, Muesing Management Company, Inc.
Coming to the east side of the Indianapolis metropolitan statistical area, Preserve at Blue Road will equip the city with new Class-A market-rate workforce housing to support the community’s ever-growing workforce. The project will be one of the largest in Greenfield in recent years, with a total of 348 units.
Preserve at Blue Road is projected to include 19 two- and three-story buildings on 28 acres of land, with one-, two- and three-bedroom options available for residents. Sizes of the 348 units range from 541 square feet to 1,400 square feet. Each unit includes multiple layouts at varying rent levels to support the needs of residents.
Outdoor amenities include a swimming pool, outdoor kitchen, fitness center, dog park, walking trails, covered parking and a clubhouse. In-unit, apartments will be equipped with kitchen appliances, washers and dryers.