Two hundred senior housing apartments could be coming to the far east side

Indianapolis, Indiana – This cottage-style structure in Reserve at White River, a senior living community along Lafayette Road, will resemble the Sunspring Apartments on East 38th Street.

A thirty-year tax abatement is being sought by an Indianapolis-based real estate developer in order to construct an affordable senior housing development on the far east side.

Kittle Property Group is seeking to purchase a 54-acre vacant property located south of East 38th Street, between North German Church and County Line roads. The group now owns, maintains, and manages 145 properties across 18 states.

Sunspring Apartments, a $52 million project, would have 208 cottage-style apartments for seniors 55 and above. One-bedroom apartments could be rented for $800 to $1,125 per month, while two-bedroom flats could be rented for $950 to $1,400 per month.

According to Caroline Kimmel, development director for Kittle Property Group, the rent costs were set by the Indiana Housing and Community Development Corp., which distributes tax-exempt bonds and rental housing tax credits for affordable housing projects. This week, she made an appearance before the Metropolitan and Economic Development Committee of the City-County Council to discuss the idea and respond to inquiries from elected leaders.

According to Kimmel, the residences would resemble those at the Reserve at White River, an assisted living complex next to Riverside Park on the west side.

It is anticipated that construction would start in June and end in June 2026, while leases will probably become available in the summer of 2025.

The developer would provide the city 2% of the property’s annual rental income less utility costs in exchange for not having to pay property taxes on the project, which Kimmel estimated would come to about $47,340 in the first year. Until the 30-year payment instead of taxes arrangement ended, the payments would rise by 3% year.

Kimmel characterized the location as a “more private community” with trees encircling the construction on three sides.

In addition to access to the proposed Grassy Branch Trail and a new sidewalk along 38th Street, amenities would include a fitness facility, game room, and communal space. Along with these new tools, the developer intends to collaborate with Community Action of Greater Indianapolis to offer seniors financial literacy training, assistance with auto maintenance, utility payments, and bus passes.
According to Kimmel, there would be a part-time bus driver on site in addition to a property manager and deputy property manager to handle leasing.

Nobody from the general public voiced support or opposition to the initiative.

After receiving approval from the committee, the agreement was forwarded to the City County Council for a final vote. The following meeting of the council is set for April 1.

According to a 2022 report from the Central Indiana Senior Fund, housing prices affect more than half of older adult renters in Central Indiana, which is defined as devoting more than 30% of their income to housing. Furthermore, persons 50 years of age and beyond make up one-third of the homeless population in Marion County.

The project, according to Far East Side City-County Councilor La Keisha Jackson, meets the need for affordable housing for senior citizens in her area.

“If you look at the data, by the year 2030, the senior population will be one of the largest populations that will be unhoused,” Jackson told committee members this week. “They’ll also be supporting… family members, grandchildren and children, and (they) will need our support.”