TWG, a real estate development company specializing in commercial, market rate, affordable and senior housing developments, is developing Rise on Meridian, a $58 million multifamily housing complex on the southside of Indianapolis.
Located at 915 S. Meridian, the 269-unit, six-story building will feature a mix of studio, one- and two-bedroom apartments. The building equates to more than 300,000 gross square feet and features 3,500 square feet of retail space.
Residents can enjoy a pool and indoor aqua lounge open to the courtyard, dog park, second floor balcony overlooking Meridian Street, indoor bicycle storage, community lounge, a co-working space in addition to garage and surface parking.
The new apartment development is located near the historic Old Southside area along the South Meridian Street Corridor, within a federal Opportunity Zone and the Near South Gateway Economic Development Area. Construction on the project is expected to begin this month, and the first units will become available in Winter 2023.
The units will vary from 562-954 square feet and cost between $1,200-$2,100 a month. Through a partnership with the City of Indianapolis and Tax Increment Financing bonds, 5 percent of the units will be reserved for individuals with income less than or equal to 30 percent of the area’s median income.